House passes bill to hike the federal minimum wage to $15 per hour
1–10 of 44 posts
Re: House passes bill to hike the federal minimum wage to $15 per hour
#2So how much of today's dollar is $15 going to be worth in 2025?
I mean, I think it's great, but it should have been sooner and/or more.
Re: House passes bill to hike the federal minimum wage to $15 per hour
#3Effectively banning/exporting any jobs that aren’t productive enough to be worth paying as much. Price fixing always creates shortages and is an inefficient way of allocating resources. Less people will be hired, businesses will go under. Stupid idea and should be a constitutional violation, you should have the right to work for whatever wage you want.
Re: House passes bill to hike the federal minimum wage to $15 per hour
#4So how much of today's dollar is $15 going to be worth in 2025? I mean, I think it's great, but it should have been sooner and/or more.
Assuming 3% inflation per year, it'll be $15/1.03^6 (6 years), or about $12.56 in today's dollars.
Re: House passes bill to hike the federal minimum wage to $15 per hour
#5Effectively banning/exporting any jobs that aren’t productive enough to be worth paying as much. Price fixing always creates shortages and is an inefficient way of allocating resources. Less people will be hired, businesses will go under. Stupid idea and should be a constitutional violation, you should have the right to work for whatever wage you want.
Right, plus there are plenty of Americans who want to work for say $13/hr if the job is a rewarding one. The current federal minimum wage of $7.25 is arguably low enough to raise somewhat because why not, but $15/hr is clearly high relative to the current supply/demand equilibrium.
Re: House passes bill to hike the federal minimum wage to $15 per hour
#6Counterpoint those making $10 an hour are on Medicaid and employers are freeloaders. Help if Medicaid had a 5% wage garnishment and all could be on it; just those making $$$ would scoff and take lower cost private insurance.
Re: House passes bill to hike the federal minimum wage to $15 per hour
#7I'm starting to miss the days when people are buying votes with their own money instead of other people's money. /s
I hope Congress also doubles all pour savings as well, because the purchasing power of those is about to be diminished.
Re: House passes bill to hike the federal minimum wage to $15 per hour
#8Counterpoint those making $10 an hour are on Medicaid and employers are freeloaders. Help if Medicaid had a 5% wage garnishment and all could be on it; just those making $$$ would scoff and take lower cost private insurance.
IMHO this would be in alignment with SCOTUS ruling that the US Affordable Care Act mandate is a tax.
Re: House passes bill to hike the federal minimum wage to $15 per hour
#9I'm starting to miss the days when people are buying votes with their own money instead of other people's money. /s I hope Congress also doubles all pour savings as well, because the purchasing power of those is about to be diminished.
The purchasing power angle makes no sense. Purchasing power will only be diminished if you increase the total money supply. Minimum wage won’t do that.
Re: House passes bill to hike the federal minimum wage to $15 per hour
#10It's important to note that there is a ~0% chance that this will pass the Senate or that the current President would sign it.
This is best discussed as politics and not policy.