Do you believe in tipping or raising minimum wage?

[Joannesrats PronounsHe/Him]

Just now, ... said:

A (higher) minimum wage drives inflation even higher. This will have a cyclical effect.

Studies don't back up this claim, though. The average rate of inflation during years with wage increases versus without wage increases are the same. 

[blankpaper Pronounsshe/her]

Just now, ... said:

It’s Econ 101. Demand and supply.

This is so simplistic and kind of inhumane. People working a full time job should be able to support themselves on that. Period. 

[Joannesrats PronounsHe/Him]

Just now, ... said:

It’s Econ 101. Demand and supply.

The demand and supply have remained the same before and after a wage change. In fact, the demand would actually INCREASE due to more spending money in people's pockets. 

[Joannesrats PronounsHe/Him]

Just now, Twitter said:

But it will spark inflation. Imagine they raise minimum wage and watch basic items like a gallon of milk be $15. 

To everyone here who support raising minimum wage. I’ll meet halfway with boosting it to $10 but anything higher will cause a mess. Yes, I do believe everyone should be able to afford to live and purchase basic things being on minimum wage.

Basic items have doubled in price since the last wage increase. There is no correlation between the two and history has proven that. 

Additionally, people in most parts of the country cannot afford to live and get basic things on a $10 min wage STILL which is where the $15/hour figure came from. That's what is needed. 

[HeavyMetalLover]

Just now, ... said:

A (higher) minimum wage drives inflation even higher. This will have a cyclical effect.

When the federal minimum wage hasn't been raised in over 11 years, this is a difficult argument to grasp. So many people are struggling and unable to break even, because their state is so far from having to pay a living wage.

8 minutes ago, Twitter said:

Exactly. And with higher unemployment just like now with COVID. It will be harder for those to get unemployment and etc. 

I really don't understand this "inflation" argument. We're in one of the worst recessions in US history, and we have almost one thousand billionaires in the US, who barely pay taxes and have only gotten richer since the start of the pandemic. But you want to poo-poo raising the minimum wage? Something that will immediately help countless Americans in one of the most difficult periods in history. Make it make sense.

[BenG]

1 minute ago, Joannesrats said:

The demand and supply have remained the same before and after a wage change. In fact, the demand would actually INCREASE due to more spending money in people's pockets. 

And this drives inflation. You can’t argue that minimum wage increases and doesn’t increase inflation at the same time.

[Joannesrats PronounsHe/Him]

Just now, ... said:

And this drives inflation. You can’t argue that minimum wage increases and doesn’t increase inflation at the same time.

How does that drive inflation? The extra money in their pockets will be spent stimulating the economy. Where's the mechanics of that? 

[BenG]

Just now, Joannesrats said:

How does that drive inflation? The extra money in their pockets will be spent stimulating the economy. Where's the mechanics of that? 

You increase demand for goods and services, pushing prices up.

[HeavyMetalLover]

Just now, Twitter said:

But there are studies to show raising minimum wage is one of the primary sources, unless my time studying economics in college was a lie. 

Honestly, if the rich spends more. The ones working don’t abuse the system. There would be programs and everything available for those making minimum wage who deserve it. And to be quite honest, boosting minimum wage to $15 isn’t surviving either. I been there during high school and struggled.

It depends on how quickly it is raised and by how much. When inflation is already insane, a $15.00 raise over time would not cause the economy to collapse.

So we should just keep it at $10 or $12 dollars? I'm confused.

Just now, ... said:

You increase demand for goods and services, pushing prices up.

This argument is null since raising minimum wage would be a step in the direction towards meeting the growing inflation of goods/services that has snowballed over the past few decades. The disparity is real.

[blankpaper Pronounsshe/her]

1 minute ago, Twitter said:

unless my time studying economics in college was a lie

This 

from a fellow business major, forget 90% of the outdated oversimplified sh*t they teach haha 

[BenG]

The main issue is that we want people to be able to live. Minimum wage is just a tool to artificially boost disposable income. There are still other ways to lower the cost of living, as well as increasing the disposable income. 

[Joannesrats PronounsHe/Him]

Just now, ... said:

The main issue is that we want people to be able to live. Minimum wage is just a tool to artificially boost disposable income. There are still other ways to lower the cost of living, as well as increasing the disposable income. 

And both need to happen, but lowering the cost of living isn't realistic in a time frame that will help anyone. Also, minimum wage is not a tool to artificially boost income? It's a tool to make sure that someone's income is enough to live off of. And it was. For decades. 

[BenG]

Just now, Joannesrats said:

And both need to happen, but lowering the cost of living isn't realistic in a time frame that will help anyone. Also, minimum wage is not a tool to artificially boost income? It's a tool to make sure that someone's income is enough to live off of. And it was. For decades. 

It is a tool to artificially boost income so that it is enough to live off. There are other means to arrive at the same effect.

[HeavyMetalLover]

1 minute ago, Twitter said:

100% don’t support the rich benefitting during the pandemic. Also, don’t like seeing people struggle. But at the same time half of those people requesting to raise minimum wage wants to use that as an opportunity to abuse the system. Not really helping the ones that actually need help.

The inflation part comes in because due to our f-cked up politics. They will find a way to increase something without y’all noticing. Something will become more expensive and everyone else will follow that trend.

But that's what has been happening in like every market for decades, while minimum wage has changed very little. That's what I'm saying. Raising the minimum wage would meet the already inflated cost of living.

[BenG]

Inflation is not always a bad thing btw. It is required. 

[BenG]

Let me throw out an interesting question. If you support minimum wage, do you also support maximum wage?

[BenG]

Just now, Twitter said:

I- 

I think it’s interesting because both disrupt the market equilibrium.

[BenG]

6 minutes ago, ... said:

Let me throw out an interesting question. If you support minimum wage, do you also support maximum wage?

@HeavyMetalLover why the flop react

[MANiCURE1295 Pronounshe/him]

You’ll never ever convince me the minimum wage should still be $7.50. 

If you still support a 7.50 minimum wage in the middle of a pandemic you’re heartless. No if’s and buts. We can argue about what it should be raised to, but if any one ACTUALLY supports that low of a minimum wage, you have some real thinking to do. I have no idea how I would even begin to live off that amount. Much less aspire to have a family.

Don’t let the government fool you, the cost of living has been increasing for decades and the minimum wage hasn’t budged. It’s disgusting how the government has so many people comfortable trapped in their mental prison scared of what will happen if minimum wage increases lol

Edited January 22, 2021 by MANiCURE1295

[HeavyMetalLover]

1 minute ago, ... said:

@HeavyMetalLover why the flop react