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This is a place where I post interesting things that I find and cant categorize into one of the main subs I follow. Enjoy a front seat as i descend into madness

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Democrats want to make the minimum wage $17 an hour and give nearly 28 million workers a raise (www.businessinsider.com)

submitted 1 year ago by [email protected] to c/[email protected]

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cross-posted from: https://infosec.pub/post/916523

Sen. Bernie Sanders is once again calling for a higher federal minimum wage. The current rate has been $7.25 since 2009.

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[–] [email protected] 5 points 1 year ago (2 children)

Something I don't understand is why is a specific number tied to the minimum wage. Is there not a legitimate mathematical way to calculate "minimum wage" depending on where you live and your local economy?

[–] [email protected] 5 points 1 year ago

It's not hard, governments index shit all the time. In Australia my university debt is indexed to the inflation rate.

Okay, but why not set the minimum wage to a thriving wage - and then index it with inflation year on year.

[–] KapiteinPoffertje 3 points 1 year ago (1 children)

In Europe it is almost always tied to the inflation number and automatically updated every year.

[–] [email protected] 2 points 1 year ago

It varies wildly between countries in Europe. There are initiatives to have some sort of common baseline though.