*sigh* Is it Explain Why Grossly Oversimplified Info-graphic is Grossly Oversimplified Time again? Ah well, here it goes. Ahem:
Once again, the social media social justice brigade has tackled a symptom instead of the disease. Repeat after me: It’s not as simple as raising minimum wage.
The disease is inflation and the lowered value of the dollar. 20 dollars could easily feed a large family 50 years ago, now it’ll barely get you a few groceries for one person. Finding sustainable sources rather than spending what we don’t have is the only way to tackle inflation, which will make any money you earn go farther without the unwanted side effect of making it harder for small businesses (the real heart of american industry) to hire people because of increased wage requirements. One possible idea (and I’m sure it has some issues I haven’t thought through, this is just off the top of my head) is to adjust minimum wage based on what a company earns. That way the laws wouldn’t hurt small businesses that want to be able to hire people but can’t afford it, while still requiring larger earners to give their employees fair wages.
Money has to come from somewhere.
We cannot just wave a magic wand and give people more money without consequences. Most businesses are going to cope with paying their employees more by raising their prices. Cost of living goes up, people will want to be paid more, and the cycle continues. Now certainly Wal-Mart can afford to pay its employees more than Frankie Joe’s pizza Palace or Mama Jane’s bakery, but Jane and Joe won’t be able to keep up with increasing minimum wage without raising their prices significantly and probably losing business to the Wal-Mart.
PS: There always has been and always will be “income inequality”. Comparing the job of a CEO of a corporation to flipping burgers like they’re essentially the same and should be paid the same way is ridiculous. I don’t care how butthurt this makes you: Some jobs are worth more than others. We will always pay doctors more than we pay taxi drivers. Scientists and astronauts will always make more than the guy who buffs your car. Get over it.
LOL obviously income inequality has always existed, the gripe leftists have is that, for the last 30 years wages tied to inflation have stagnated and in some cases fallen for the bottom 80%. Your main argument is that inflation has robbed the purchasing power of Americans and that raising the minimum wage is useless. Well, if you took 1968s minimum wage ($1.60) and put in 2014 dollars the minimum wage would be $10.95. The problem is not inflation, it is that employers are not tying their wages to it. Income inequality would be solved if employers continued to raise wages as money inflated. If the minimum wage were tied to productivity, American workers are far more productive now than in 1980, it would be about $21. I’m fine if a car buffer is payed far less than an astronaut, but shouldn’t he be payed enough to sustain himself seeing that he is renting himself out to another person for 40 hours a week for basic amenities? If workers were allowed to unionize (which I will assume you oppose) the Car Buffers of America could democratically assemble to address their greivences against their employers and ask for better pay and/or benefits because their employers haven’t adjusted their wages to inflation. But of course, workers should never have the right to do that because only the free market can correctly choose how much a workers labor is worth.
Yes, because unions have worked so well in the past and because of them we no longer have issues with inflation and poor wages. Inflation is happening because the value of the dollar is going down and because people keep demanding higher wages. Saying we should just increase pay whenever inflation occurs is kind of like… Well this explains it best: