Prices going up.

[RDY4WAR]

It all depends what state you were in. In 1985, Federal minimum wage was $3.35. Texas just goes by the Federal minimum wage which is $7.25 now, lasted raised in 2009.

History of Federal Minimum Wage Rates Under the Fair Labor Standards Act, 1938 - 2009

www.dol.gov

Massachusetts has one of the highest minimum wage in the nation, right now about $13.50. Going to $15 in a couple years as it goes up another 75 cents in January and the year after will go to $15. Only Washington, at $13.69, California at $14 and Washington DC are higher at $15.

Minimum Wage - In Your State - MinimumWage.com

Facts about the Minimum Wage

minimumwage.com

Inflation hasn't been worse because some things have come down in price. I remember paying a few hundred dollars for a CV joint back in the 90s. Of course the cheap aftermarket ones are junk these days but you can get them sometimes for under $100. Same with alternators, rebuilt ones are in the $100-$200 range, same risk of getting junk but also in that same range for decades. Costco has been able to maintain their $1.50 hot dog and $5 rotisserie chicken for decades.

I've thought about this some lately. I've wondered what if we locked the federal minimum wage to the CPI-W? Give it a bump to $9/hr as that's about what it would be today gauging inflation since 2009. Say that was the case now. Say the inflation from 2021 to 2022 through the 3rd quarter is 2%. Then starting 01/01/2023, the minimum wage would automatically increase 2% from $9/hr to $9.18/hr.

This could end the ridiculous debates over raising the minimum wage every 5-10 years as it would be fixed to a standard, and potentially keep consumer-based businesses from price gouging and spiking inflation for fear of taking a hit to the payroll.

 

[PandaBear]

Massachusetts has one of the highest minimum wage in the nation, right now about $13.50. Going to $15 in a couple years as it goes up another 75 cents in January and the year after will go to $15. Only Washington, at $13.69, California at $14 and Washington DC are higher at $15.

Our local McD has a big banner with starting wage at $17.25 for months. As you can see nobody talks about national min wage here.

Also these days there are many ways to get around minimum wage: gig economy. You can probably drive around deliver pizza or grocery at your own hours with kids in the back seats (so you can work without paying childcare, something min wage workers cannot afford), and still go home without commutes. Without the flexibility you will not be able to afford hiring people for those work at anywhere near min wage.

 

[PandaBear]

I've thought about this some lately. I've wondered what if we locked the federal minimum wage to the CPI-W? Give it a bump to $9/hr as that's about what it would be today gauging inflation since 2009. Say that was the case now. Say the inflation from 2021 to 2022 through the 3rd quarter is 2%. Then starting 01/01/2023, the minimum wage would automatically increase 2% from $9/hr to $9.18/hr.

This could end the ridiculous debates over raising the minimum wage every 5-10 years as it would be fixed to a standard, and potentially keep consumer-based businesses from price gouging and spiking inflation for fear of taking a hit to the payroll.

You shouldn't lock Fed anything unless it is the lowest of all lowest, but to be honest the state should set something like this instead unless you see some states with abusive laws (i.e. $5 in 2021). The housing cost is all over the place unlike engine oil.

 

[jrvn]

if they raise minimum wage to $15, the companies will just reduce work hours(which will disqaulify most from company paid Healthcare) and make the employees work harder with less personnel to help to do the jobs, these people arent in business cause they dumb

 

[JeffKeryk]

if they raise minimum wage to $15, the companies will just reduce work hours(which will disqaulify most from company paid Healthcare) and make the employees work harder with less personnel to help to do the jobs, these people arent in business cause they dumb

Then workers will leave. Workers aren't dumb either.

 

[PandaBear]

if they raise minimum wage to $15, the companies will just reduce work hours(which will disqaulify most from company paid Healthcare) and make the employees work harder with less personnel to help to do the jobs, these people arent in business cause they dumb

Then workers will leave. Workers aren't dumb either.

Eventually things will balance out. You can increase min wage, increase automation, go out of business, people leaving for better jobs, going offshore production, moving into a customer self service business model, disposable economy instead of repair, etc etc.

Let's be honest, some businesses are no longer relevant gradually because we moved on, some jobs are no longer relevant and gradually disappear. Let's remember the day back when supermarket replace mom and pop local grocer (because of economy of scale and self service reduce labor cost), we then have barcode replacing employee printing and putting on price stickers, now we have today self checkout replacing cashier scanning your stuff.

Imagine today we mandate min wage to go back to $3 / hr so we can have mom and pop compete with supermarket, or mandate employee putting on price stickers and bagging grocery for you to keep jobs around, or legalize slavery so our farm can be competitive with Brazil in the international market...... I don't think anyone in 2021 would think they are good ideas.

Last 20 years we see travel agents disappear, we will see more things being automated in the next 20 years, min wage or not.

 

[sk_pete]

Discount places have had both pretty cheap, Kroger & WM used to have eggs for 99 cebts/dozen, and I've been buying milk from Ruler Foods (Kroger subsidiary) for $1.29-1.99/gallon.

heh, 0,6€ L fresh milk. 2,2€ halfdozen eggs...
623 € minimal wage. slovakia

 

[Wolf359]

if they raise minimum wage to $15, the companies will just reduce work hours(which will disqaulify most from company paid Healthcare) and make the employees work harder with less personnel to help to do the jobs, these people arent in business cause they dumb

Or maybe they'll just increase prices to compensate for their higher costs.

Our state had a minimum wage of $8 an hour back in 2014, $9 in 2015, $10 in 2016, $11 in 2017, $12 in 2019, $12.75 in 2020 and now $13.50 and going to $15 in 2023. None of the massive disaster that people were claiming but you pretty much can't get lunch for $5 either.

 

[jrvn]

Then workers will leave. Workers aren't dumb either.

you could pay them $100 an hour and they still wouldnt work, most US men of 18-45 years old dont even know how to start a lawn mower or can do 10 push ups, no worries tho we got a new army of entry level workers coming in by the thousands illegally to fill those entry level positions

 

[Skippy722]

Then workers will leave. Workers aren't dumb either.

I believe we’re seeing this now… people are fed up with the “the customer is always right!” mentality and getting paid dirt to put up with ungrateful sometimes truly hateful people.

 

[samven]

I remember when you could get a Hershey bar for a nickel. A nickel!

I remember those days and a generic chocolate bar was 3 cents, but my allowance was 10 cents a week if I did all my choirs without being reminded.

 

[PandaBear]

heh, 0,6€ L fresh milk. 2,2€ halfdozen eggs...
623 € minimal wage. slovakia

If healthcare is good sounds like a good place to retire.

 

[PandaBear]

I believe we’re seeing this now… people are fed up with the “the customer is always right!” mentality and getting paid dirt to put up with ungrateful sometimes truly hateful people.

Louis Rossman from the video I posted previously (a small mac repair shop owner who were fighting for right to repair), said the same thing. Basically the people who got nobody coming back are the people who lay off their workers and now the workers are the one who got work elsewhere. They were not doing well prior to the layoff and they lost the job security, so now they might as well do something (new career, starting their own gig, etc) else instead of going back to their old jobs.

 

[PandaBear]

you could pay them $100 an hour and they still wouldnt work, most US men of 18-45 years old dont even know how to start a lawn mower or can do 10 push ups, no worries tho we got a new army of entry level workers coming in by the thousands illegally to fill those entry level positions

What I learn on the internet is, talk is cheap. Unless I see people getting 40 hrs a week doing yard work at $100 / hr for 50 weeks a year I call shen on this. Yeah people all telling me not to crush my car because it would easily sell $3500 in Midwest, when in reality I cannot even sell it for $1500 practically.

FYI you can hire software engineer for 200k a year and a professional construction worker.

 

[Hillbilly Deluxe]

You had no idea this was coming ??

Lemme give you some advice - it’s just starting. Wait 6 more months

 

[Dave Hess]

The rich 1% with their diamond encrusted Rolexes, Bugatti, McLaren, yacht , big mansion and Gulfstream jet don’t need to worry about rising prices.

 

[M56959]

Thanks to the folks who followed the rules.

Unfortunately not enough. Locked