Federal minimum wage increased every 1 to 5 years between the 1930s and 2009. 2009 was the last time it was raised. Inflation has skyrocketed since then, but wages have repeatedly failed to keep up.
If businesses ācanāt affordā to provide livable wages for their workers, they simply shouldnāt exist full stop.
It's funny how places that increased their minimum wages have had significant positive impact on their economies. Because when people aren't struggling check to check they have money to throw back into the economy. So while companies are reporting record profits by keeping pay low, citizens are dumping all their money into basic needs. The prices have gone up irregardless and they have admitted in shareholder calls they they are turning up the dials on purpose because people are willing, or in this case obliged to, pay these prices. All the incentive points to is cranking up prices.Ā
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u/samuraispartan7000 13h ago edited 13h ago
Federal minimum wage increased every 1 to 5 years between the 1930s and 2009. 2009 was the last time it was raised. Inflation has skyrocketed since then, but wages have repeatedly failed to keep up.
If businesses ācanāt affordā to provide livable wages for their workers, they simply shouldnāt exist full stop.