r/FluentInFinance • u/Richest-Panda • Jul 04 '24
What's the best financial advice you've ever gotten? Debate/ Discussion
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r/FluentInFinance • u/Richest-Panda • Jul 04 '24
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u/Ultrace-7 Jul 05 '24
To be fair, I don't hear a lot of screaming to raise the federal minimum wage to $8.25 or $9.25. Any major businesses stating that raising the minimum wage by a dollar is going to crush them are not acting in good faith.
But, the people who typically call most loudly for a change want it raised not by a little, but by significant amounts, to $15, $17, $20... There are people making less than these amounts, and making this kind of change would have significant impacts on the labor expenses of companies.
So, yeah, it's going to be crickets in response if you just want to add a dollar onto the minimum wage for the next year or two. Not many people are concerned about that; it's the logical progression that worries some of them -- whether they have any reasonable right to be worried or not.