1152
bOth sIDeS aRe ThE SaME!!1!
(lemmy.world)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 10 May 2024
1152 points (93.6% liked)
Political Memes
5579 readers
858 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 2 years ago
MODERATORS
Raise the minimum wage to $25/hr, tie it to inflation... Use the $67billion a year spent on section 8 housing to build people houses which they end up owning, instead of shoveling all that money into slumlords' pockets. Flood the housing market with supply to keep the prices down, even as people are able to afford more.
I fully believe this would cause runaway inflation as wages only went up and up as the majority of americans have more money and thus prices can be raised. This cycle would constantly repeat as raised prices cause a raise in wage until the american dollar is worthless and we're all making millions or billions of dollars a year which adjusted to inflation... is like today's $15/hr. Interest rates for loans would skyrocket to an unfathomable percentage as double digit inflation remains y/y.
The billionaires would quickly turn into trillionaires and quadrillionaires as their investments rise in price proportional to inflation.
https://fortune.com/2023/05/30/inflation-worker-pay-not-a-major-cause-fed-study/
https://archive.riksbank.se/Upload/WorkingPapers/WP_159.pdf (PDF Warning)
https://www.upjohn.org/research-highlights/does-increasing-minimum-wage-lead-higher-prices
https://www.reddit.com/r/explainlikeimfive/comments/10rjsvn/eli5_how_does_raising_wages_worsen_inflation/
Please don't believe BS.
Inflation is happening anyway... Prices keep going up and up regardless of whether pay increases enough for people to afford them
So basically the idea is to just make everyone make the same amount of money unless they are very rich, in which case they are going to have their total compensation pegged to 300x+++ of minimum (or some other absurd number.)
It's all bullshit man. Crazy minimum wage hikes are never going to become law in the united states.