Narrow down the conversation to these participants:
@9FD6Z322yrs2Y
I think this may be true, but if an 18 year old is living on their own, they may need more money to be able to live off of, like $15 an hour instead of $12.
@9FDFW6N2yrs2Y
Yeah, so find a job that is paying more. There are well-paying jobs available; they just may be not as convenient or flexible, but they're there.
While I see where you're coming from, it's not always as simple as just finding a better-paying job. For example, someone may be working two jobs already just to make ends meet, and they simply don't have the time or energy to find and adjust to a new job - especially if it's less flexible. Plus, in many areas, higher paying jobs require qualifications that some people might not have and can't afford to get. What would be your solution to this problem?
While it's true that a young adult living on their own may need more income, raising the minimum wage might not be the best solution. Consider a small business struggling to turn a profit. If they're required to pay their employees $15 an hour, they may not be able to afford to hire as many workers, leading to job loss. Or, they might have to raise their prices to cover the increased labor cost, which would affect all of their customers. What do you think about this scenario? Could there be a better way to help young adults afford living expenses without potentially harming small businesses or consumers?
@9FDHRT82yrs2Y
I understand that more money out (wage increase) would require more money back in (price increase) but in states where the cost of living is astronomically high (example NY), its ridiculous that a $15 minimum wage cant afford someone to live any other way than paycheck to paycheck unless youre upstate in the middle of nowhere. I think the solution to this would start out with standardized pricing for housing around the country. Greedy landlords and people trying to make a bunch of “passive income” is screwing the market and forcing people with similar properties to jump the price,… Read more
@9FCJR7N2yrs2Y
Have a government brand of goods/services that have a set max price so there is an affordable form of most goods
While the idea of a government brand with maximum price caps sounds appealing, history has shown us it can lead to potential complications. For instance, the Soviet Union had a centrally planned economy where the government controlled prices. This resulted in chronic shortages of goods, poor quality, and a lack of innovation due to the absence of competition. How would we ensure quality and innovation in a system with government-set prices?
@9FG8SLP2yrs2Y
The prices would always raise anyway so for those who are stuck at minimum wage and the prices increase they are screwed due to the fact that the money they make won't be enough to survive.
@9FGCHDJ2yrs2Y
the reason prices are increasing is that not enough money is circulating in the commonwealth due to billionaires/millionaires hoarding and not spending their money. minimum wage is the smallest cause of this.
Most price increases in recent years are not going towards employees or operating costs but increasing corporate compensation going from 10 percent to 70 percent over the course of 30 years, if anything prices should be lowered.
@9FG483L2yrs2Y
I think this may be true, but if an 18 year old is living on their own, they may need more money to be able to live off of, like $15 an hour instead of $12
@B7HRP3C6 days6D
raising minimum also raises inflation because companies see we have more money to spend so they raise prices so there is no point in raising the minimum wage
@9GLJ3B22yrs2Y
If the minimun wage increases, then businesses will start to increase their prices because they're paying people more. This will result it minimun wage not being livable just like before, but with everything being more expensive
@vandaman2yrs2Y
History has shown that no matter how high the minimum wage goes the next year taxes will be increased and in turn the value of each dollar will be decreased.
@9H5FJNS2yrs2Y
It may cause prices to rise, but it will give us more money to work with. If we create regulations, we can prevent prices rising.
@9G2JYLW2yrs2Y
If the living wage is increased, goods have less value, so It increases to maintain the supply and demand.
@9F9PC3L2yrs2Y
i think minum wage is not bad becuase some people have the choice to make a little money and alot money
When a price of somwthing important like gas or food raises minimum wage raises. aftere that companys who think people hae more money.
@9GMSSG32yrs2Y
Companies want to make money. If you make it so that a company needs to give out more money to everyone, a few things can and/or will happen. One is that they automate the process, which means that people who want that kind of job just won't be able to get it anymore and hurts those looking for entry-level jobs for experience, and also ties in with another thing of them just getting rid of more workers. If you pay 100 people 10$ an hour and the minimum wage is increased to 15$ an hour, you're not just going to pay 100 people 15$ an hour, you're going to get rid of people until… Read more
@9G83Y232yrs2Y
If everybody began making more money, the people that were self employed or owned businesses wouldn’t make as much money, so they would raise prices.
@9G4HMF62yrs2Y
Which is why this would only cause the prices to increase in a never ending cycle because people would be paying for stuff they originally thought they could afford but now they can't which will end up in them being in debt.
@B7JKLM75 days5D
when everyone in the low and low middle have more money companies just charge more for their products and it doesn't really change anything except by making prices go higher makes life harder for people in the middle
@B78PW4Z2wks2W
Because there is an increase in minimum wage, business profit gaps would decrease, leading them to increase product prices to accomodate their losses.
@B4K9HHT6mos6MO
Yes. If you raise minimum wage, everyone has more money, so companies can charge more, so minimum wage is increased...
@B2BNG2Q9mos9MO
In 2018, the CA minimum wage was $11.00 with the inflation rate being 3%. In 2024, the minimum wage in CA increased to $15.50 and inflation was 6.2%.
@9ZB9CHPLibertarian11mos11MO
Again, increasing minimum wages without doing research is ultimately going to hurt everybody financially.
@9LVNGK71yr1Y
Whenever the there is more money in a market, everything else becomes more expensive, businesses will have to increase their prices, housing prices will go up, etc.
@9LTWWT51yr1Y
because companies will charge more for their products, meaning the money is worth less.
this is true in California because of their new 20$ minimum wage, and a simple meal is now upwards of 40$ for one person.
I watched a video on a pizza place having to shut down due to having to pay their employees even more money, and the increase of rent on the place, thus he had no other choice but to shut down due to all these money problems.
@9LMYV3V1yr1Y
California just raised its minimum wage to around $30 which only made the states massive inflation issue even worse.
@9J6CP9K2yrs2Y
If we increase the minimum wage in South Carolina from 7.25 to 10 dollars that will make a pack of gum to increase just as much and almost even out.
@9HJM9NJ2yrs2Y
In some of the Scandinavian countries there is no minimum wage, other measures are preferred and seem to work.
@9HJDKH82yrs2Y
Imagine minimum wage goes up and McDonald’s Hass to do one of three things or a combination of all three 1 raise prices are too layoff employees or three spend more on technology, and have less workers. While those who remain will get paid more many others will be out of the job and will be in worse shape than before.
@9GST6J82yrs2Y
Yes as we increase the minimum wage it puts more money into spending on wages which in return would cause the people running the business to raise prices due to the increased cost in which would eventually increase prices everywhere causing the same issue to be brought up and inflation leading in a never ending cycle.
@9F8255C2yrs2Y
When businesses are forced tp pay their employees more, instead of getting less profits they just increase the prices of their goods or services to compensate, and then everyone else follows.
@9F73J22Republican2yrs2Y
Prices should stay the same or even lower but prices are so high anyway and if they continue to rise they should increase the minimum wage to cope with it.
I believe that minimum wage should be increased no matter what increases happen, minimum wage should fluctuate with the cost of living.
@B37VLM28mos8MO
Soon once everyone makes so much money, distributers will up the price to keep the profit levels highest, look what Biden made the minimum wage to $14 it made everything go up in price since everyone could buy more of it.
@9FLXLNL2yrs2Y
Just look at how hard it is for people to get by on minimum wage, housing is through the roof and prices from inflation keep rising making it harder and harder. Raising the wage raises prices made from losses. Every time the minimum wage gets raised so do products.
@9F9RH6LIndependent2yrs2Y
back in the 50's, people were buying more and more, then this caused people to demand more money so they could afford more, then the cycle continued until the US dollar was obsolete.
@9LQ5X671yr1Y
When minimum wages go up, prices go up because corporations have to make more money to be able to pay their workers more, or they will just fire employees, which would raise the unemployment rate.
@9F8KZWZ2yrs2Y
the higher the minimum wage is the more things will cost since each person will overall be making more money and the businesses will be spending more money.
If you raised the minimum wage, it affects causes raised prices for goods, which causes the need for a higher wage in the process, and thus we create a never ending cycle. But it also affects the small businesses by putting them out of business. So we essentially get the same amount of money (because when prices go up, the dollar value goes down), but less jobs and less small businesses.
@9JFQK57 2yrs2Y
If the minimun wage increases, then businesses will start to increase their prices because they're paying people more. This will result it minimun wage not being livable just like before, but with everything being more expensive
Minimum wage should stay the same, if you increase it, prices for everything else will increase due to the greater total income, also known as GDP.
@9H4FW4C 2yrs2Y
Whenever the there is more money in a market, everything else becomes more expensive, businesses will have to increase their prices, housing prices will go up, etc.
@9H468JH2yrs2Y
Alright so basically, when you increase minimum wage you pressure entrepreneurs to decide whether to fire one of their employees or increases prices of the service they perform.
@9GYR7WG2yrs2Y
The minimum wage for the fast food industry in California will be increasing in 2024 to 20 dollars from 15 dollars, and as we saw with prices when the minimum wage in California increased to 15 dollars, prices will increase.
@9GNVJWJ 2yrs2Y
My Dad owns a small business the last time minimum wage was raised he had to raise his own prices and fees to keep up with it. This cycle wont stop by raising minimum wage. The problem is that the standard of living is so high people cant support themselves so it would be better for everyone to agree to drop their prices by the same percentage than it will be cheaper.
@9F76XNY2yrs2Y
I disagree because if you raise the minimum wage, it will financially help people afford things regardless if the price goes up a little. If they are making enough to afford these new prices, then I see no issue. I believe they should increase the wage whenever the market increases in prices.
@9G9JS2W2yrs2Y
If you take the minimum wage twenty years ago and calculate how many hours worth of minimum wage money it would take to buy something, for instance a car of that current year, make, and model, you will find that the amount of hours it would take to get the money is essentially the same amount of hours it would currently take to get the money needed for a car of the same make and model in this current year, showing that despite an increase in minimum wage, your dollar doesn't stretch any further now than it did twenty years ago.
@button_down_royalty_ 3yrs3Y
It could, but it could temporarily be better, so...yeah.
@984LRMC3yrs3Y
In the long run, it would benefit our country rather than having a moment of more money to the people.
Loading the political themes of users that engaged with this discussion
Loading data...
Join in on more popular conversations.
