This is why CEOs shouldn't be paid anything more than $1M/yr

Community General Discussion
185

Prices increase anyway. Without a raise to min wage, even mcdonalds will soon be out of the reach of the masses.

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186

So much jealousy and envy in this thread. So much projecting going on.

187

They will increase but at a lesser rate, the result of the minimum wage change in Chicago was a loss of jobs available and a more sudden price increase.

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5 years ago the only place I saw with touchscreens was WaWa. Now everywhere has one.

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It’s actually funny you should mention that as McDonalds prices are a fantastic way of pointing out the disparity in minimum wages across the world. For example:

Price of a Big Mac in the US: $8.04
Price of a Big Mac in Australia: $6.45

Federal Minimum wage in the US: $7.25 ph
Federal Minimum wage in Australia: $20.33 ph

190

I see you’re resorting to memes after your google argument was destroyed :joy:

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Considering he puts forth the money to pay for my work vehicle, insurance, gas, equipment , pays for staff to dispatch me to jobs, pays for all the stock in my truck, pays for the stock I have to order to complete jobs he absolutely should get a return on that investment.

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how was it destroyed? you said i had no proof and you focused on pew which is non partisan and ignored that reuters, ipsos, forbes and business insider all support the same thing and thats just the first page. changing goal posts much?

also, memes are fun

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193

You know, if you’re going to lie, try to do so about something that can’t be disproved with a simple google search.

“Just as intended, the earnings are increasing, but we’re not finding any significant employment losses,” said study co-author Sylvia Allegretto, an economist and co-chair at the Center on Wage and Employment Dynamics at Berkeley.

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194

same thing happened in seattle. oh wait, nm, nothing changed

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195

Pew only polled 5109 people. That’s definitely a “majority” of Americans.

Pew isn’t non partisan. It’s definitely a left
Leaning think tank.

And used the same study :joy:

And used when people don’t have credible arguments.

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196

Continue to read through the article rather than coming out with accusations after the first paragraph.

BlockquoteThe University of Washington study — which was commissioned by the city of Seattle and looked at low-wage workers as a whole, not just food service workers — found that Seattle’s law increased wages by 3 percent overall, but decreased hours worked by 9 percent, resulting in smaller paychecks. The study estimated that, on the whole, the average low-wage worker in the city lost $125 a month because of the minimum wage hike.

“Raising the minimum wage is a ‘feel good’ policy that actually harms more low-income folks than it helps,” Robert Topel, an economics professor at the University of Chicago, said in an email when asked to comment earlier this summer on Chicago’s minimum wage increase. “There are better ways to help low-income individuals and households.”

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197

Is it just me or are the people supporting this in this thread only reading the headlines and not the full article?

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198

Exactly.

The whole argument of “Oh, if the minimum wage increases, then people will lose their jobs and prices will go up.” is complete bullcrap. It’s a line that has been used multiple times by boomers and other aged individuals who think the current status quo is perfectly fine just because they have what they need.

But a simple look at how inflation works, show’s that it’s not fine. Not at all, and that goes for everyone, not just the people struggling on minimum wage. If you earned $100,000 a year in America in 2000, to keep in line with current inflation costs, you’d need to be earning $163,000+ in 2021 to have the same quality of life.

Prices are going up regardless. The only thing that’s not changing are the wages of the workers.

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199

Jealous much?

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200

Never in the course of history has this ever worked.

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201

The number of economic masters in this thread is fascinating.

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202

Realistically, if you want a stronger economy and you want better conditions for workers, you start at the bottom. You increase the minimum wage to a liveable wage. Study after study have shown that people who live on low incomes will spend most of their money the moment they get it, and that money goes into small and large businesses, which helps them thrive, and for the owners of those businesses, that money works its way up to the top.

But if you go the other way, which most countries are doing right now, nothing changes. Giving tax breaks and wage increases to the people at the top doesn’t create a ‘trickle down’ that eventually benefits the people at the bottom. Instead all that money gets spent on stock and dividends, allowing the rich to get richer while the poor suffer on the scraps they already had.

203

you seriously dont get how polling works do you. not surprised. they dont NEED to poll literally everyone. every poll has a margin of error ofc but the margin of error depends inversely on the square root of the sample size. pollsters thus spend the money to get a reasonably large sample. so by surveying say just 4,000 people, you can get the margin of error down to 1.5 percent

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I understand how polling works.

End of the day you can’t say “majority of Americans support XYZ” because the only people polled were 5109.

The best argument you say say is that “of those polled support xyz” but that doesn’t speak for the majority of Americans.