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Shouldn't minimum wage just increase proportionately to inflation? (lemmy.ml)

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

24 comments fedilink hide all child comments

Most jobs will give you a performance review and a raise every year to account for inflation and any increased duties you've taken on. We increase minimum wage by massive amounts after far too many years which causes all sorts of economic concerns, business complaints, and just a bunch of arguments everywhere. Shouldn't they just increase minimum wage 3.5% or whatever, every single year?

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[–] [email protected] 20 points 1 year ago (1 children)

Got to think about those poor business if they have to pay a nickel more for labor they would be broke

Joking aside, minuim wage is a hot issue. One side fully believes that minuim wage is in fact a bad thing and shouldn't exist. So for them putting a bill out that auto raises it would be counter productive to ~~their interests~~ business being able to hire with supply demand

[–] [email protected] 24 points 1 year ago* (last edited 1 year ago) (1 children)

If a business cannot function while paying a decent wage it should not exist.

Businesses with unrealistic business plans fail everyday, it is a basic function of capitalism.

It is not a society's responsibility to prop up business ventures that waste capital by continuing to pursue uneconomically viable enterprises.

[–] [email protected] 21 points 1 year ago (1 children)

And further more, if a business pays it's employees such a low rate that they need government assistance and the company is so important that they need to be subsidized like that, the company should be owned by the government.

[–] [email protected] 9 points 1 year ago

Somewhere, a Walton just sneezed.