its all staggered tho. its like a dollar per year until you hit 15, it doesnt go into effect tomorrow
Stimulus & Bailout Watch Thread
- Thread starter wire28
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Exactly
The distinction between inflation and productivity is an important one. If the minimum wage rises in step with inflation, we are effectively ensuring that it will allow minimum wage earners to buy the same amount of goods and services through time, protecting them against higher prices. However, if it rises with productivity that means that as workers are able to produce more goods and services per hour, on average, minimum wage earners will be able to buy more goods and services through time.
While the national minimum wage did rise roughly in step with productivity growth from its inception in 1938 until 1968, in the more than five decades since then, it has not even kept pace with inflation. However, if the minimum wage did rise in step with productivity growth since 1968 it would be over $24 an hour today, as shown in the Figure below.
Lower pay for those at the top increases the real pay for those at the bottom and middle. A $15 an hour wage goes much further when all drugs are selling as low costs generics, the financial sector is not sucking 2 percent of GDP ($230 billion a year) out of the economy, and doctors get paid the same as their West European counterparts.
If the productivity of less-skilled workers has not kept pace with average productivity, this was by design. It was not the fault of these workers; it was the fault of those who designed policies that had the effect of devaluing their skills.
This raises a final point: we can’t imagine that we can just raise the minimum wage to $24 an hour without serious disruptions to the economy, many of which would have bad effects (i.e., unemployment) for those at the bottom. While there is certainly room to raise the minimum wage, and many states have done so with no measureable impact on employment, there clearly is a limit to how far and how fast we can go.
It is quite reasonable to have a target where the minimum wage returns to where it would be, if it had tracked productivity growth over the last 50 years. But we will have to reverse many of the institutional changes that have been put in place over this period to get there. This is where the sort of policies described in Rigged (it’s free) come in, but that is a much longer story.
What the Minimum Wage Would Be If It Kept Pace With Productivity - CounterPunch.org
Voice of Reason
Veteran
So your feelings would be hurt because you only make a little more than people working at McDonald's?
DJ Paul's Arm
Veteran
It's just some haterade shyt because those people complaining had to go to school and study for 4 years to get that job that pays a little more than Calvin getting a gig at Wackarnolds with a GED.
People getting a BA next year while minimum wage might go up are like
Killah Ray
Carolina hail to thee....
Bruh I've got a BS in nursing and I'll be finished with my FNP degree in about 2 years so it wouldn't be close to my pay, but the fact that my salary would've been somewhat close beforehand yeah I have a problem with it.
Hell my wife is a teacher so it'd probably just benefit her to just say fukk it and do something else once minimum wage hits that point considering she works for one of the poorest school districts in the state.
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$15 an hour not helping anyone, I was making that back In 2017, and that was not shyt as a single male. I think small businesses will shut down, but large corporations can handle this. What you need to be asking yourself is who you would preferably help small companies Or Wall Street?
Killah Ray
Carolina hail to thee....
I admittedly haven't even read how they plan to implement it, so I'd have to see the particulars before I can truly speak on it.
I thought you was balling. What happened?So, how do the unemployed crawl out of their debt, unless they’re going to continue extending unemployment until they’re whole. If that’s the plan, cool.
Say that, then.
Market correction. It is what it is$15 an hour not helping anyone, I was making that back In 2017, and that was not shyt as a single male. I think small businesses will shut down, but large corporations can handle this. What you need to be asking yourself is who you would preferably help small companies Or Wall Street?
Most black owned businesses are small businesses. You still feel the same way?
Bernie talks about his priority for two reconciliation bills
Champion
#RxLife #UCF #FAMU
To be fair, this isn't going to be the last stimulus.
There's also many people in this thread that have said the drip-feed approach has led to them having issues and missing payments.
Saysumthinfunnymike
VOTE!!!
I think they are doing it this way because the hopes is that the vaccine ramp up will allow people to get back to work. Then as people are back to work they can target specific areas that are still in need of assistance.
Maybe it's the way dudes are phrasing it on here or because of people of I know but it's coming off like some just don't want to get back to work at all and I can't ride with that.
If we were right wingers we wouldn't even be discussing what people need.
$15 an hour not helping anyone, I was making that back In 2017, and that was not shyt as a single male. I think small businesses will shut down, but large corporations can handle this. What you need to be asking yourself is who you would preferably help small companies Or Wall Street?
It’s looking more like this is what at least part of it was about. I haven’t started reading up on The Great Reset yet but from the little I’ve heard about it this sounds in line.