A $15 Minimum Wage? Fat chance!
Once again, we continue to fight the battle over minimum wage.
Don’t they realize that the reason why costs have gone up on things is because the Fed continues to devalue the American Dollar by dumping more of their printed works of financial fiction into the market? What that does is require EVERYONE to take a pay cut. This is why we have those “adjusted for inflation” numbers – it’s because money isn’t worth what it once was.
If they indeed raise the minimum wage, then the cost of everything goes up to match inflation. Do you seriously want to pay $15 for a Big Mac?
The thing is, the value of goods and services are what someone will pay for them. But cost is not an evaluation of value because it’s contingent upon changing dynamics. Instead, how about we value things based on the amount of time to acquire them?
For example, let’s take your time. Every person, no matter age, gender, skin color, or ethnicity, gets 24 hours a day – 168 hours in a week. You want to buy a microwave oven for $80 and you make $10/hr (taxes notwithstanding). That’s a full day’s wages, spent for that microwave.
Folks, this is what economics is built on – simple unchanging ideas of the value of things.
Now, not to be overly mean, but many of these whiny people working min-wage jobs aren’t running around with college degrees (or have degrees in non employable fields). They lack drive to actually improve themselves – but rather, want that entitlement. They think they are actually WORTH more money than their being paid.
So, something I heard on Rush today – ask one of these nitwits how much is enough. $20/hr? $30/hr? $50/hr? Sooner or later, they will see that $50/hr is too much for flipping burgers at which point, you get them on their valuation.
Minimum wage jobs aren’t meant to build careers on. People that aspire to nothing more than to flip burgers don’t deserve the bigger salaries. No one out there is saying, “you deserve to be paid more!”. So why should I demand it?
Stay rabid, my friends…
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