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Author Topic: Realistically, do you think the minimum wage in America will ever go up?  (Read 1882 times)

PrincessKLS

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So right now there's a big fight to make the federal minimum wage $15, but technically if we were going by inflation rates this whole time, the minimum wage today would be about $25 or more per hour. I'm kind of nervous if someone like Donald Trump gets into office, we won't see a spike in the minimum wage at all.:(
PrincessKLS

MadZealot

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Re: Realistically, do you think the minimum wage in America will ever go up...
« Reply #1 on: November 11, 2015, 10:44:28 pm »
Quote from: PrincessKLS;182209
So right now there's a big fight to make the federal minimum wage $15, but technically if we were going by inflation rates this whole time, the minimum wage today would be about $25 or more per hour. I'm kind of nervous if someone like Donald Trump gets into office, we won't see a spike in the minimum wage at all.:(

 
Yeah, min wage oughtta be higher, but if we bump it up, what does that do to inflation?  How long until $25 goes only as far as $8 today?  I don't have a workable solution, Trump sure as hell doesn't, but I'm not completely sure Sanders has the answer.
Spider Man 3 never happened. And Epstein didn't kill himself.

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Re: Realistically, do you think the minimum wage in America will ever go up...
« Reply #2 on: November 12, 2015, 08:01:02 am »
Quote from: MadZealot;182210
Yeah, min wage oughtta be higher, but if we bump it up, what does that do to inflation?

Probably not much, if it is done slowly (over many years), the thing to to is to get minimum wage up to where were buying power was in the 1960s and then have the minimum wage rise automatically with inflation. This would give the "business leaders" a reason to be more concerned about the effects of their decisions on prices as jacking them up would have an (obvious even in the short term)  effect on one of most company's biggest expenses: wages and benefits. It might even be best to adjust the minimum wage on a quarterly basis since needed to keep one's stock price ever-rising seems to make many large businesses unable to think much beyond 3 to 6 months ahead. (Which causes even more problems in the economy, but that's another issue.)
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Re: Realistically, do you think the minimum wage in America will ever go up...
« Reply #3 on: November 12, 2015, 09:25:55 am »
Quote from: MadZealot;182210
Yeah, min wage oughtta be higher, but if we bump it up, what does that do to inflation?

 
Letting it stagnate doesn't seem to have helped inflation all that much.
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PrincessKLS

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Re: Realistically, do you think the minimum wage in America will ever go up...
« Reply #4 on: November 12, 2015, 12:17:46 pm »
Quote from: RandallS;182216
Probably not much, if it is done slowly (over many years), the thing to to is to get minimum wage up to where were buying power was in the 1960s and then have the minimum wage rise automatically with inflation. This would give the "business leaders" a reason to be more concerned about the effects of their decisions on prices as jacking them up would have an (obvious even in the short term)  effect on one of most company's biggest expenses: wages and benefits. It might even be best to adjust the minimum wage on a quarterly basis since needed to keep one's stock price ever-rising seems to make many large businesses unable to think much beyond 3 to 6 months ahead. (Which causes even more problems in the economy, but that's another issue.)

 

Well technically if we had done that in the first place and stopped the flow in the 60s, than minimum wage would be around $25 something an hour.
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sailor

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Re: Realistically, do you think the minimum wage in America will ever go up...
« Reply #5 on: November 12, 2015, 02:08:21 pm »
Quote from: PrincessKLS;182222
Well technically if we had done that in the first place and stopped the flow in the 60s, than minimum wage would be around $25 something an hour.

 
And at those wages, we'd have many fewer small book stores or comic stores; and fast foo restaurants would be eliminating even more jobs via automation.

Sefiru

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Re: Realistically, do you think the minimum wage in America will ever go up...
« Reply #6 on: November 12, 2015, 06:36:36 pm »
Quote from: sailor;182224
And at those wages, we'd have many fewer small book stores or comic stores; and fast foo restaurants would be eliminating even more jobs via automation.

 
On the other hand, with those wages, people would be able to buy more books, comics and fast food. Employees are also consumers, after all.

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