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- cross-posted to:
- [email protected]
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“It’ll make costs go up! It’ll cause inflation! It’ll cause a wage price spiral!”
NEWS FLASH! minimum wage hasn’t risen for over a decade and yet prices have risen faster than they did when we did raise minimum wage. Almost like, cheap minimum wages allows for more capital consolidation, and that in turn makes it easier for cartels, oligopolies and monopolies to form to enforce larger margins on low elasticity goods.
The average person is willfully ignorant about inflation because they benefit more from networking with people who believe the bullshit.
Capitalism requires a second class of people who are easily exploited and disregarded by the wider majority of workers in its system usually through propaganda. Racism existed before it but it certainly does benefit from making those different lesser so they can be easier exploited and dehumanized when needed.
The a Federal Minimum Wage has been raised twice since 1997, the last time in 2009, for a total of $2.10. It currently stands at $7.25 an hour.
20 states are still at the Federal Minimum Wage, or LESS, with some at $5.15, and Oklahoma as low as $2.
Oklahoma isn’t $2. They don’t use finite dollar amounts in their minimum wage law; it’s tied to the federal minimum wage.
And Georgia only has the $5.15 for businesses with less than 6 people that don’t do interstate commerce.
There should be no circumstance that $5.15 should be legal.
There should be no circumstance where $7.25 should be legal, either.
Brayden, Kayden, Jayden, Hayden, and Blake
You need a Sean in there
In Spain they would all be called Cayetano.
Ah yes, The Roofy Boyz.
Hey, they all suffer from affluenza ok, it’s a totally legit thing that allows them the freedom to roofy! /s because of poes law
Poe’s Law: originating from the term "Poorly Constrained* (cf: Poe Ly) which is a technical term used in physics, engineering, and mathematics for a system where there are more variables than available data points, making a single definitive solution impossible. 😏
Yes, but also this https://en.wikipedia.org/wiki/Poe's_law?wprov=sfla1
Was using the real definition to generate my definition.
And my definition is also real
Both of these things are new to me
As I like to say, every day is a school day!
Which one is Preston?
Preston Popcollar is the one who took the photo.
deleted by creator
Don’t forget Ethan.
That’s jaedyn. His father will hear about this
I think that’s Ethan-Tyler Preston Connor in the back
Buncha numpties
remember when ‘romphims’ were the head-scratching “kids these days…” goofy shit of the day?
Got that first up against the wall when the revolution comes typa rizz
Share and Enjoy —> Go Stick Your Head in a Pig
I don’t care about the minimum. I care about the maximum earnings allowed annually.
That’s ok. The employees can show them what happens when they don’t pussy enough for them to live ✨
Why are they all playing with there junk?
Making sure it doesn’t fall out of their shorts.
We just need some duct tape, rope, and a windowless van, and we’re on Easy Street, fellas!
The confidence doesn’t match the argument at all 😭
Kinda related: At some point I realized inflation is actually kinda good when you have no assets and large debt, because it effectively shrinks your debt. The problem is, I only thought about it well after paying off my debts and gaining some assets, so now I feel like the guys in the pic if I talk about it.
… and just like that, you figured out what the FED is for, and that our world economy is based on debt, with inflation used to defraud the hordes of workers from adequate wages.
Once the inflationary economy crashes, banks buy up those previously inflated assets at rock-bottom prices, and the process begins anew.
I’ll show them, I’ll avoid those cyclical crashes by switching to Bitcoin!
Reason for The FED founding… let’s stop those bubbles!
Immediately after FED founding… POP oh no! Well, let’s keep it anyway. It makes JP Morgan so happy, look at him giggling!!
This math only maths if your income keeps pace with inflation. Otherwise you’re getting priced out of living. Even if in relative terms your debt is shrinking, that doesn’t make you better off on its own.
Yeah, that’s where the kinda comes in. From experience, when you’ve got that much debt you tend to lowkey want to watch the world burn, so you’ve got that going too.
only if the interest rate you pay on the debt is lower than inflation. let’s say, if inflation is 3% and your interest rate is 5%, you still make additional 2% real debt every year. if however inflation is 5% and your interest rate is only 3% then you win.
Australia has one of if not the highest minimum wage.
This economics YouTuber ranks it as one of the best economies, based on his own slightly subjective ranking that factors in both overall strength and egalitarianism.
