ScienceRocks
Democrat all the way!
- Banned
- #121
A good part of the reason why you can't raise the minimum wage to 20 dollars a hour is you will cut more into the profit. When you cut into profit you have to raise the prices of "goods" that you're selling. So pretty soon the consumer is paying more, even through they have more money(more fiat paper) to spend, but at the end of the day it comes out near the same. The dollar is devalue more. Wonder why your grandpa said that he could buy bread for pennies, well theres part of your reason.
Goes from the worker getting paid for his service
Worker pays for what he needs from other businesses
If lets say today he gets 400 dollars per week for his profit(work)...He needs to spend 375 dollars for food, rent, car-gas, to insure the thing...25 dollars to do as he wishes.
Well raise the minimum wage
He now gets 550 dollars per week...But because of the product is more expensive from food right down the list...He has to put out 525 per month now. He doesn't improve his life...A million dollars is worth less now.
Goes from the worker getting paid for his service
Worker pays for what he needs from other businesses
If lets say today he gets 400 dollars per week for his profit(work)...He needs to spend 375 dollars for food, rent, car-gas, to insure the thing...25 dollars to do as he wishes.
Well raise the minimum wage
He now gets 550 dollars per week...But because of the product is more expensive from food right down the list...He has to put out 525 per month now. He doesn't improve his life...A million dollars is worth less now.
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