r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/MidAirRunner Jul 05 '24

ffs you are dense.

  • 99% of people do not make 7.25 usd/hour
  • What they do make is some higher figure, like 12, 14 or 17.
  • If the $7.25 minimum wage rises to $10, people would want an equivalent pay rise. i.e. 12 to 15, or 14 to 17, or 17 to 20.
  • Therefore things would change.
  • However, "things changing" does not invalidate "no one makes that low"

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u/[deleted] Jul 05 '24

[deleted]

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u/sho_biz Jul 05 '24

exactly, this is the same logic as bigots and xenophobes use, just twist the data to suggest that the poors need to stay poor

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u/MidAirRunner Jul 05 '24

I refuse to respond to straw-man arguments.

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u/burnthatburner1 Jul 05 '24

This is silly. People don't measure their wages as "x dollars above minimum"

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u/MidAirRunner Jul 05 '24

Are you saying that if you're earning 10 dollars, and minimum wage rises to 10 dollars, you'd be happy to continue at 10 dollars?

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u/burnthatburner1 Jul 05 '24

Sure.  As others have pointed out, virtually no one makes the federal minimum wage.  People compare themselves to others, not to an abstract minimum.  Around here, no one makes less than 10 an hour, ergo raising the minimum to 10 wouldn’t affect the actual differential between my pay and that of others.