Raising the minimum wage.... Is that good for workers?
submitted 4 months ago by In-the-clouds from (midi.moe)
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[–]Armedpleb 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 4 months ago (1 child)
It will just lead more inflation. More specifically wage-price spiral inflation where raising minimum wage will cause rent, bills, goods & services and other expenses to increase in price.
https://www.wallstreetmojo.com/wage-price-spiral/
Increasing minimum wage is not the way to get more money. It will only create the illusion of earning more money, which will be pointless when everything goes up in price. If they want more money, get a better job!
[–]In-the-clouds[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 4 months ago (0 children)
From the link.... When people receive a pay raise:
either they will save it or spend it.
And of course most people today no longer consider saving, but continually go deeper into debt.
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[–]Armedpleb 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (1 child)
[–]In-the-clouds[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (0 children)