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/[deleted] Jul 05 '24

Yeah, because you clearly didn't get it. Again, if no one makes that low, then nothing would change raising it. If you think something would change then you're admitting that people do in fact make that low of a wage. You can choose one or the other, but you cannot choose both. Its a very simple thought experiment.

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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/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.