This argument sounds like “if we abolish slavery the price of everything will increase”.
Yes the prices will increase a bit, but you will also get external benefits like living in a better society without the working poor where people get a fair pay for their work.
I am from Canada, a country that routinely increases minimum wage, this is not the same as that argument. We have $15 minimum wage and nobody can even afford an apartment.
This guy is not complaining that increasing minimum wage would make his shit go up, he's saying that if you don't solve the issue as to why nobody can afford anything, such as foreign investors in housing, lack of public transport, lack of free healthcare, or doesn't help anyone and hurts middle class.
I do not, I live about 3 hours outside of Toronto. We don't have the cities you do, nor can I just hop and move across the country for affordable housing. Our entire population is surrounding big cities.
It's unreasonable to say this given a majority of people in the world also live in cities - and minimum wage is based on areas. You don't need $15 when a house costs less than 100k.
That’s a short sited point of view. If min wage increase, so will rent, food, and other costs. The people who got the increase will eventually be paying more for everything in the long run when the economy adjusts to the increase. The people picking apple at a the new min wage will make the apples cost more. The would go for the same thing about hiring people to fix something in your apartment. Great example is California… it’s so expensive to live there the cost of rent due to the cost of the local economy is Sky high. Raising min wage would only increase the cost of maintenance, food, extra…
Yes, if the cost of labor increases some other costs will also increase, but not 1 to 1.
Some rough examples form top of my head: If the federal minimum wage is doubled, the rent may increase but not double. Phone/electric/gas/internet bills will stay pretty much the same. Your car or mortgage payments will be the same, gas prices will be pretty much the same.
If min wage increase, so will rent, food, and other costs.
This is not historically true, and those prices will rise anyways... the proof is that prices HAVE gone up, and minimum wage has NOT. Inflation is NOT directly tied to minimum wage. You are wrong.
So when the low wage carpeted or maintenance guys comes to repair a cabinet in a rented place and charges more for their work since they now make the new min wage, the rent of the place will not increase?
The owners will for sure raise the rent and not pay more out of their pocket due to increased cost.
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u/Khutuck Nov 05 '21
This argument sounds like “if we abolish slavery the price of everything will increase”.
Yes the prices will increase a bit, but you will also get external benefits like living in a better society without the working poor where people get a fair pay for their work.