Comment on Bill to raise minimum wage to $25 an hour will be introduced in Senate
homes@piefed.world 1 week agoWhen the minimum wage has increased in the past, prices have not disproportionately increased. There have been small, short-term increases on some luxury goods, but that’s about it.
The idea that increasing the minimum wage will cause sudden price increases is a myth.
unitedwithme@lemmy.today 1 week ago
No you’re not listening. Small increases are fine and less disruptive. You’re talking about 19 States and 1 territory going from $7.25/hr to $25/hr.
If you look at 2007 – 2009, we had jumps of $.70 each year. Let’s be real, we had 12 years of Democrats in office during that time and 7 years of Republican, so neither are really “fighting” for us. Why do we still have a federal minimum wage of $7.25? Let’s look at inflation since 2009 (hint: 53.9%). Check the calculator, too. Sure, several states do in fact utilize a higher stat level minimum wage, but according to the NCSL, 20 states still rely on the federal minimum. If you keep the $.70 rate going, we could be at $19.15/hour, and let’s just say at a minimum we raised it $.50/year on average which puts us at $15.75. So, averaging out to $17.45. Really, I’d aim for $17.50/hr. It’s easier, more consistent, and honestly, probably still a little low. But also, why now and why so much of an increase?! Isn’t that the slightest but suspicious???
Remember after Covid, inflation was getting out of hand and the whole “nobody wants to work” bullshit?? Well, wages increased in a lot of places to lure employees, but it hurt small businesses really bad because their margins are smaller so prices raised more to compensate. The 3% convenience fee also became popular in card transactions to avoid eating those costs too. So, in a society where using plastic has become king for the middle and lower classes, we’re punished with higher prices unless we switch back to cash? Prices will ABSOLUTELY soar. Businesses, especially smaller ones will ABSOLUTELY close due to being unable to stay profitable. This IS NOT good.
homes@piefed.world 1 week ago
When I said that it’s a myth unsupported by fact, throwing out a bunch of superfluous other facts that don’t support the myth isn’t going to confuse me because I’m not stupid. And unless you can directly link inflation over the years, you’ve discussed to wage increases, which you can’t then all you’re doing is perpetuating a myth that has no factual support.
And for the fools who refused to listen to facts, and are still afraid of some sort of systemic shock, the wage increase can be spread across two or three years, it doesn’t have to happen overnight.
But I repeat: it’s a myth, unsupported by fact.… Unless, after that diatribe of yours, you were hiding the fact for some sort of epic, forthcoming reply…
unitedwithme@lemmy.today 1 week ago
OK, so you’re hell bent on just accepting a new minimum wage, regardless of how it gets there, because you just see the dollar signs going higher, not thinking about the reasoning behind why now all the sudden some rich politician wants to raise the wage 3.5x the current rate for so us normal folk… Got it.
Instead of asking the real questions or using critical thinking, just because there’s “no direct proof” means it’s OK. Well, I’m sure that’s what everyone’s (who’s very wealthy) counting on. Nobody doing the math or working out the numbers.
How come you didn’t talk to any of my points? Seems ironic timing at the very least a new wealth tax is discussed for the ultra wealthy getting taxed on net worth, AND NOW all the sudden they want to raise wages?!?! Seems like a distraction and you’re falling for it.
unitedwithme@lemmy.today 1 week ago
OK I did a little digging to get the bill info and name to look into it, not much available right now do take with a grain of salt.
LLM breakdown:
I’ve looked into H.R. 8555, the Living Wage For All Act. Based on what’s publicly available, here’s my breakdown of the key provisions and areas worth examining carefully:
Core Provisions
Main Goals:
Corporate Threshold Definition: A company qualifies as a “large, highly-profitable corporation” subject to accelerated implementation if it has:
Smaller businesses below either threshold get extended transition time.
Areas That Could Benefit Wealthy Interests or Have Uneven Impacts
Based on business group critiques and policy analysis, here are several provisions that warrant scrutiny:
1. “Large Corporation” Loophole Risk
The dual threshold (revenue + profitability) could incentivize corporate restructuring:
2. Small Business Protection Creates Competitive Advantages
Businesses exempt from accelerated schedules could theoretically gain short-term advantage—but this cuts both ways. Critics note this might push work toward subcontracting arrangements where oversight weakens, potentially exploiting gig workers who don’t fit traditional employment categories well.
3. Regional Cost Variations Not Accounted For
The nationwide formula doesn’t adjust for geographic differences in living costs. A $25 minimum makes very different economic sense in rural Mississippi versus San Francisco. If passed through uniformly:
4. Price Pass-Through Consequences
Research cited by critics suggests companies will likely pass increased labor costs to consumers through price hikes. Higher prices disproportionately hurt lower-income households who spend larger portions of income on basics, creating a regressive effect even as nominal wages rise.
5. Automation Acceleration
Several economic analyses warn that forcing rapid wage increases could incentivize faster automation investment. Capital-intensive solutions benefit those with access to capital (typically wealthier investors/owners) while reducing opportunities for low-skilled workers.
What Appears Transparent vs. Less Clear
Bottom Line
This isn’t obviously pro-wealthy in its surface language—the bill explicitly targets large profitable corporations. However, the structural design contains features that sophisticated actors could exploit:
For a truly definitive answer about hidden provisions favoring wealthy interests, you’d want the actual Section-by-Section Congressional Budget Office scoring, which should detail distributional impacts by income quintile. That analysis would reveal more precisely how benefits and burdens distribute across the population.
homes@piefed.world 1 week ago
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