California Dem call for $50 minimum wage
thenationaldesk.com
thenationaldesk.com
I personally do not feel that it is reasonable to assume that minimum wage should support more than the basic needs of an individual.
If we raise the minimum to $104k a year, then what do we pay first responders and teachers?
Who is going to purchase the $50 mcdonalds big mac's and grande lattes?
Basically labor becomes vested in being part of high value activities. You will order your big mac from a touch screen and pick it up from the window when called. The burger meal will still cost $20, but not $50.
You also need the generous unemployment policy with (actual) retraining options. There's a common refrain "who has time to learn how to code?". The person who's union will provide 70% of their salary while pursuing a free education does. But that's done by agreement with the union, if the person would be better off training as a plumber, that will probably happen instead. Basically you need to remove the incentive for clinging onto unproductive jobs for the sake of jobs.
It's not a utopia though, don't get me started about the Danish job center which is basically state funded harassment.
For what is worth, looks like a big Mac meal is 99kr, ~$15
$22 is slightly more than what a McDonald’s worker earns here in Seattle, if we are comparing Aarhus (I’ve never visited any other cities in Denmark). And probably no vacation.
FWIW, I grew up in Australia, live in the Bay Area, and lived 4 years in Denmark. I have friends on both sides in that income bracket.
Sure, but the average person isn’t planning to make $22/hour for their entire life. This is also why we have a lot of Danes here in the Seattle area (working in tech making lots of money), they have the highest CS graduate degree rate per capita so it makes sense.
"Price what the market can bear" is the cornerstone of real estate. And let's not forget about price as a function of supply and demand.
That is, wages will increase, and housing will gladly follow. $50 p/hr will get sucked up in no time - unless supply is increased significantly. $50 p/hr will increase what the market can bear; it's also increase demand (e.g., couple who couldn't afford to seperate will now do so).
And so on.
Time and again we see such manipulation go wrong (e.g., student loans and the cost of higher edu), and yet we keep dreaming that never time it'll be different. The naivete is embarrassing.
People are stupid and I'm convinced these people want to destroy the country. When you raise wages, things like automation will happen much faster and people will have to do more work and there will be a ton of layoffs
Minimum wage still has this function today, a policy for smug elite to smash down the least fortunate while doing double speak to pretend like they are doing the poor a favor.
>mow lawns for a summer
>brand new Mustang
Can she do math?