Is Fox news unironically the best place to learn about your new favorite social dem?
this post was submitted on 25 Jun 2025
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BTW $30 isn't like a crazy high number for minimum wage. The current number is well below the poverty line for families everywhere in the United States, and New York has a very high cost of living. Minimum wage is explicitly intended to provide "the wages of decent living." $30 per hour might actually be too low for New York City. $61,500 a year is barely going to pay the rent in the shittiest neighborhoods. https://www.zillow.com/rental-manager/market-trends/new-york-ny/
my two cents (and if my upvotes are any indication my two cents is worthless) the real problem is that when you raise the minimum wage, you build an opportunity for companies to raise the prices on everything, and then we get into an inflation problem.
Example, my home state can raise minimum wage from 9 to 12 dollars an hour, but that 25% increase in pay would be all the excuse Walmart would need to jack up the prices to cover their loses;
Not saying we shouldn’t have a working/livable wage, but we gotta do something that forces companies to pay the workers more, and the owners/CEO less some how. Like an inverse tax calculation that benefits the company for paying lots of people more, instead of just the few at the time a premium.
I’m sure an economist can explain this better.
This would assume that these same businesses wouldn't raise prices regardless, which is what they have already been doing, without the wage increase.
A higher minimum wage is how you force companies to pay employees more. There's no real way to limit ceo pay that they won't find loopholes for, but you could try to tie the max to some upper percentage of employee median pay