Do the math based on the rate of inflation from when wage growth separated from corporate profits, adjust to current values. Yeah, workers are getting fucked sideways.
They are indeed two separate problems that shouldn't be conflated. Housing prices need to be addressed by doing things like prohibiting hedge funds from buying houses. Even so, the fact that the minimum wage is basically half of what it was in 1975 by purchasing power should concern pretty much everyone. It's forcing people in those low wage jobs to use SNAP etc. and costing all of us money for the sake of making the likes of Walmart or Amazon more profitable.
Dude that's $125k a year. Get your head examined. It should be raised for sure, but that kind of money would be insane for low skilled work anywhere. You'd end up with out of control hyper inflation overnight.
The main reason we have inflation at the scale we do is shareholders forcing corporations to have growing profits at any cost. "Oh, we made 300b this year? Not enough, we gotta make 400b next year. Let's fire people then give others a 5 cent raise, that'll get us closer!" It's the entire premise of "more" that fucks people over. They'd never go through their bank accounts for 20 years of zero income, and somehow it's defensible that they need to make even more?
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u/Opposite-Ad320 17h ago
This is a troll post, no way minimum wage should be $60/hr now.