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Min wage would be $44 / hour if it had grown at same rate as Wall Street bonuses

businessinsider.in

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Re: Min wage would be $44 / hour if it had grown at same rate as Wall Street bonuses

#31

Post by setpatchaddress »

xupybd wrote: post #14

NZ just raised our min wage to $20 an hour. I work at least 50 hours a week. A teenager at MacDonalds now earns a good fraction of my income if they work the same hours. Despite my 4 year degree, near decade of experience and the responsibility's that I hold.

This sort of thinking is corrosive to society at large. It’s not a zero-sum game.

But, if you must, take heart in the fact that the teenager will never make more than $minimum in that job, where presumably your income will continue to rise commensurate with experience.

Re: Min wage would be $44 / hour if it had grown at same rate as Wall Street bonuses

#32

Post by vmception »

pathseeker wrote: post #6

So? It would be even higher if it grew at the same rate as a typical Google SWE's comp did from 2010 to 2020. Some industries are doing really well.

Marketable skills, what a concept.

I’m being flippant, but there really could be constructive share ownership amongst the general population.

Re: Min wage would be $44 / hour if it had grown at same rate as Wall Street bonuses

#33

Post by Rebelgecko »

lixtra wrote: post #26
Rebelgecko wrote: post #17

If minimum wage had grown at the same rate as the US federal debt it would be $408/hour

I think debt should be at least normalized by number of citizens. But still...

That makes sense, although sadly it brings the scaled minimum wage down to only around $140/hour

Re: Min wage would be $44 / hour if it had grown at same rate as Wall Street bonuses

#34

Post by nostrebored »

FranzFerdiNaN wrote: post #22
BoysenberryPi wrote: post #12

So what? I am fully in support of increasing minimum wage but I've been seeing articles like this for weeks and it is frankly garbage ragebait that I hesitate to call journalism.

Why should Wall Street bonuses grow this much and minimum wage not?

Minimum wage increase fuel underemployment and under the table work and wall street bonuses don't?

Re: Min wage would be $44 / hour if it had grown at same rate as Wall Street bonuses

#36

Post by nostrebored »

cercatrova wrote: post #24
xupybd wrote: post #14

NZ just raised our min wage to $20 an hour. I work at least 50 hours a week. A teenager at MacDonalds now earns a good fraction of my income if they work the same hours. Despite my 4 year degree, near decade of experience and the responsibility's that I hold.

You are arguing the wrong point, it is you who should be paid more rather than the teenager who should be paid less.

The value of wages are a function of average and minimum compensation.

Re: Min wage would be $44 / hour if it had grown at same rate as Wall Street bonuses

#39

Post by adreamingsoul »

SerLava wrote: post #35
Rebelgecko wrote: post #17

If minimum wage had grown at the same rate as the US federal debt it would be $408/hour

Remember when they said 10 trillion in debt would cause a massive crisis?

Who said that?

Re: Min wage would be $44 / hour if it had grown at same rate as Wall Street bonuses

#40

Post by ReptileMan »

FranzFerdiNaN wrote: post #22
BoysenberryPi wrote: post #12

So what? I am fully in support of increasing minimum wage but I've been seeing articles like this for weeks and it is frankly garbage ragebait that I hesitate to call journalism.

Why should Wall Street bonuses grow this much and minimum wage not?

The self checkouts counters are nice answer. If computers get cheaper than people, people will be replaced.

There is serious push in eliminating low skilled labor in a lot of places.

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