Does minimum wage increase the cost of living/inflation?
Anyone have good data backing this up?
Whenever I look things up, all I find is garbage articles of talking points with 0 data, and I'm starting to get very frustrated. Anyone know a good place where I can find information? I feel like I have to sift through tons of garbage for any scraps of credible info.
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illinois passed a law to gradually hit 15 in a couple years
its already so fucked so i dont expect growth
In what universe would the cost of goods not go up when the amount of money available to consumers goes up.
If the cost of labor goes up the cost of the product goes up, its common sense.
Cost of goods have basically doubled since I was a kid whereas wages have been stagnant af. I don’t understand why you hate your fellow man so much.
it serve nothing to up minimum wage it will devalue the money even further
it's buying power that peoples need the $ as to be worth something again
you'll not need 15$ an hour if you can all you need with less
we got to turn back inflation
nationalize the centrals banks and revert everything that as been done since backing form the gold standards
>Does minimum wage increase the cost of living/inflation?
No it's always the opposite. Pressure to increase minimum wage comes as a result of price inflation and higher cost of living. If you think min wage plebs are calling the shots in this world you have to be retarded.
If wages rise, consumption rises with it, and prices increase due to the increase in demand. Even if the cost of producing goods remains the same, an increase in price is mandatory to account for the increase in demand
only with ultra limited market
this is not applicable to everything or almost anything
Go back to a gold standard and prices will go down.
Both the right and the left talk about min wage but never talk about why prices are rising in the first place. And it's because the Jews control the money supply
Minimum wage is SCAM
isnt a minimum the definition of limiting the market
Increases to minimum wage stimulates the economy. Wages aren't the only cost to business, so inflation is minimal compared to the stimulus to the economy.
>Endogenous growth theory
Minimum wage increases are a way for Jews to cleverly steal value from everyone’s bank account through the inflation that follows shortly after.
Npc’s are too stupid to understand anything all they hear are politicians telling then that it’s a good thing and it’ll make their lives easier. The only true way of ensuring a higher living standard is to take back our economy from usurist jews and kick out all subhuman leeches. The retard npc never wants to accept this truth and believes that jews are good people because nazi’s are bad and that minorities are good because celebrities and the T.V says so, and also because nazi’s are bad and anything that is against nazi’s Is good even cutting your dick off and becoming a tranny.
>Does minimum wage increase the cost of living/inflation?
No, but it does increase unemployment. There is a mountain of economic studies that support this.
especially for the young and inexperienced. it also reduces full time employment.
>credible info
>pol
wow that was a lot of words man u should relax
Yup. The people ostensibly that it is intended to help.
Correlation doesn’t always equal causation. Just because prices have gone up and wages didn’t doesn’t necessarily mean that the mom and pap business store is holding more money for themselves. There could be other economic factors at play that are leeching their wealth and is the reason they have set prices higher then they were able to in the past. If wages go up they’ll even have to set prices higher then they already are.
Only way to fix the economy is to get rid of Jews, and get rid of worthless subhuman leeches. Germany did it in the 1930s and made the most incredibly recover the likes of this world has ever seen.
This is the cold hard truth. It’s the only way we become free and ensure a great living for our people. Problem is most people are so zog brained they will never accept this truth.
> In theory but not in reality.
Poor people spend their money growing the economy.
Yes it does, vastly
A car wash I used to go to down the street for a full wash, hand dry and vacuum used to be $16. Now it's $36.99 in the span of 5 years.
A McDonald's value meal and a coffee is now $12.
When I went out of state I got the same meal for $7.
Kind of hard to spend money if you lose your job, though.
youtube.com
Good video to watch if you have 45 minutes to kill.
Which doesn't happen because of the stimulus to the economy.
Yes. Watching the fools who forced a pay increase in Socal struggle more. Gas prices steadily rising, housing shooting through the roof, all services increasing in price. Many door to door petitioners tried to get the wife and I to sign on, but we told them we make more and are a business owner and a corporate salaried employee. Tried to explain it to them but they were so confident in their beliefs sighting unrealistic crap they read off the internet.
My.vote is we just increase the min wage so we see what happens. And when everything falls apart then we rebuild.
Siting *
>Which doesn't happen because of the stimulus to the economy.
Reality doesn't agree with your assertion. Actual economists are pretty split on whether government mandated minimum wages do more harm than good. As mentioned, there are plenty of studies to show the negative impacts on unemployment of min wage.
>unemployment isn't real brah
okay retard
the problem is idiots never learn from their mistakes
Minimum wage increases are reactionary in all likelihood. I've never heard of any correlation myself between minwage and prices rising in a showable and tangeble way. But there are sweetspots to the value of things though that balance the cost of making and value produced, even currency. Different places have different values on things given the needs. You must dispel the common idea that something has a base defined and known value. From whay ive seen, the cost of wages is only a small part in what is driving prices up for large corps and the valuepf goods they make must still be affordable. Big businesses fight hardest just to keep up with inflation.
General consensus afaik is just the base issue with fiat currency and its natural flow towards devaluing itself due to limitless supply being invented and borrowed. Massive numbers being made. If there is too much of something with any resource it becomes less valuable, even gold but less likely due to difficulty obtaining and its real uses. New studies show we have roughly 1/10th the buying power we used to on gold standard. Living off a dollar a day doesnt sound so bad now.
>economist's opinions
>studies
Lol u fik
You might want to listen to them. Min wage laws are one of those economic policies where there is a large difference in opinion between laypeople and those who actually know what they're talking about. Just because 90% of the public supports them doesn't necessarily mean they're a good idea.
Price controls don't suddenly become good economics just because they help the most useless people in the economy.
Nope, business owner here.
Laid off half my office staff due to raising minwage and benefit requirements in socal. Business slowing down due to utility and gas prices. Many places hiring, but minwage, part-time. Nobody taking them. Can’t live on minwage because rent is skyrocketing. Supply prices rising. Everyone working harder than ever trying to keep business afloat.
What happens when Min Wage increases is that cost of labor increases. This can mean the price of things goes up, this is not very likely though. What would most likely happen instead is that more will be expected of those who are working and thus less people will be hired. Restaurants that had 4 waiters to cover 80 tables will now only have 2 for those same 80. Services will decrease in quality and will take longer as there will be less people to do said services. Basically, when the cost of labor goes up the number of jobs available go down and those who have jobs will start to lose them faster.
Do you need data?
I'm a supermarket owner. Most cost of goods in New York City have risen 100% in the past 5 years. Especially on perishables.
You can't expect the cost of goods to remain the same when labor costs go up. And then you can't expect prices for consumers to stay flat when our labor costs have doubled.
Not 1 single employee gets overtime anymore. In fact no one gets over 36 hours. And salaried employees are basically working 72 hour weeks for salary.
In my field of business nearly everyone is trying to sell and get out especially in places where min wage has not hit $15/hr yet.
In real life minimum wage grows the economy. It conflicts with libertarian bullshit, as does much of reality.
They don’t get it. Auto Repair shop owner. They have no idea how it works and spout theory.
This leaf knows what's up. Pushing to bump up the min wage when the purchasing power of the dollar has gone to shit thanks to fiat currency and the (((central banks))) will only lead to more and more inflation down the line.
When the dollar itself is already worthless, having fifteen instead of seven amounts to fuck all.
>minimum wage causing fuel price increases.
Stud larper.
Nope.
Why? Soft money and non realistic cost point calculations. Statistics are only part of the story. An economy may strengthen and technically grow, but how it grows and who benefits is what matters.
>It conflicts with libertarian bullshit
You mean macroeconomics?
Tell you what, why don't you provide some proof that minimum wage "grows the economy."
How about the great depression. When a minimum wage was created to deal with the problem.
If minimum wage doubles , then it's reasonable to think all staple good (milk, eggs, rice, gas, oil, etc) are going to double + more for tax. Because most staple goods are priced for the lowest earners so they can survive.
Basically when min wage was 7.50/hr you can buy milk for $2/gal when min wage is $15/hr milk will be $5/gal. The lowest earners nominal income doubles. But so do cost of goods.
The biggest losers are the middle class, even as the lowest earners wage doubles (100% increase) and cost of goods double, the higher earner is only getting 1-5% increase per year. Roughly 3% on average.
So everything gets more expensive and now middle class is poorer and have less disposable income. Just wait and see how quickly people will start to flee the states where min wage is $15/hr.
Meanwhile the government eggheads think this is the smartest thing they've ever done and the idiot public love them.
Yes it does. I work with cars all day. Gas stations in socal push prices based on numerous factors, one of those factors is how much money the customer can afford to pay. Plus how much more an employee has to be paid. You cut your staff by 1/3, and bump the price. Minwage paid for, then bump the price when people hear any news about oil prices rising, natural disaster, summer, and a whole host of things.
Either way you put it, those people are bought and paid for by the globalists. They shill free trade, they shill illegal immigration, they shill bailouts while screaming 'MORAL HAZARD!' is anyone gives money to a non-Jew to help them out.
Fuck the lying, piece of shit economists. They're just as bad as the other social scientists.
We should focus on raising the value of the dollar and lowering the cost of goods. Inflation is fucking retarded.
I see so many auto shops going out of business or trying to sell too in Queens and Brooklyn. It's really frightening how many different types of business are trying to cash out right now.
Honestly I don't even know how many places survive without the owner working to save payroll.
just have a communist system instead of a socialist one and then boom everyone has a place to live and everyone is happy
Will the breadlines have French bread?
>muh markets
>muh economic freedom
dumb bourgeoisie fuck should go fuck himself. free homes for all is a way better economic system than dumb markets
The difference between communism and socialism is basically nothing. The only difference is that communism is run by a dictator and socialism is people voting their freedoms away. Socialism turns to communism real fast.
>$9.00 for a 4 piece chicken strip meal
>Does $15 minimum wage increase the cost of goods?
nope you're a bloody fuckin idiot. socialism is workers owning the means of production without working for the common good. communism is workers owning the means of production and working for the common good.
One thing that would help. Would be to stop being a net importer ($500 b) a year. The way you can translate that to laymen would be. We are buying more than we are selling so we're losing our wealth as a nation.
>wages are businesses only cost
socialism can be considered capitalism and capitalism can be considered socialism
Well are things cheaper now?
(((*depending on position, availability and experience))) means that they have no intention of paying that wage, they just want to lure suckers in.
"The goal of Socialism is Communism" -Lenin
I think I'll trust the guy who actually ran both a Socialist and then a Communist government about what Socialism and Communism is before I trust you.
Multinational / national corps fare better. Since the most labor intensive parts can be done in cheaper labor areas... that's why wouldn't care if some states raise min wage. It does not hurt them as much.
Agreed but people feel entitled to cheap crap from 3rd world nations. Heaven forbid they pay more for their cell phones at the benefit of their nation.
well right now we're living in a world where everything is getting more and more inflated and our dollar is stagnant and the only people who can afford basic shit anymore are rich folks. So what the fuck choice do we have nigger, besides going full on american revolution which I doubt anyone here has the balls to do
Dudes, read books.
Read “Human Action” by Ludwig Von Mises.
Minimum wage is a scam.
That's according to Marxist-Leninist theory. People who call themselves Communists are working for Communism. People who call themselves Socialism are just working for Socialism.
A minimum wage would see your salary double
. people spend more and the economy grows
>Nazi Germany
> Socialist country
> Working for the global good
> USSR
> communist af
> Run by jews, killed millions of whites, fags gyppos etc.
Being this retarded
Really though? Like if you have $5 you might buy 3 spicy chicken sandwiches and be full, and then if you have $30 suddenly you're going to buy 10 spicy chicken sandwiches for no reason? Is your car suddenly going to accept more gas? Is your one pair of clothes you've been wearing since highschool really going to turn into a full wardrobe?
The only thing this point really proves is that you would rather suffer for the illusion of a good economy, when in reality the economy is total shit either way
Yeah, that is what happens with Marxist Ideologies. When people who reduce everything to mere power conflicts and literally nothing else go at it than obviously the only thing they care about is their given powers.
But that "it'll be more expensive because it's made here" especially on consumer electronics is ridiculous considering the margin they charge on those things.
minimum wage prices young, inexperienced, and unskilled laborers out of the job market and it forces employers to hire less people to do more work which ends up with subpar service and product, which pushes businesses to ask for cheaper but more competent replacements: robots or immigrants. Fuck minimum wage.
>Nazi Germany
>Corporatist country
>Lets Capitalists exploit workers labor
>Profit over working for the common good
>USSR
>Communist
>Run by whites, Capitalists caused famine and killed 7 million in Ukraine.
dumb cunt.
Prices are increasing due to increasing labor cost. Not increase in demand. Most business owners I would think would prefer volume sales over lower volume higher prices.
Yea because if they weren't forced too, the kind benevolent businesses would totally treat everyone fairly. Have you ever worked one job before nigger?
Time to do independent research!
Look up an old Sears catalogue from the early 1900s. Look at the price of a house. Now look up the price of a similar sized home.
Now compare those prices and dates with one of those nifty charts about the purchasing power of a dollar. Viola. Inflation bad.
Yo if we just took Jeff Bezos and sacrificed that one man and divided his money up amongst everyone we could all probably live pretty decently. I'm not saying it's morally right but hey who gives a fuck in these times
>any data
You literally don’t need any atm. Basic economics, if a business if forced to double the wages of All of their workers what happens? The owner must raise all prices. To accommodate a 100% increase in wage expenses. Then there’s the rent moguls. The earnings of those above minimum wage are now either carried up for expenses and also laborers wanting more than “minimum wage.” Again to pay for workers and utilities the management must raise prices.
we just need to abolish markets and profit but that would be kinda boring i guess so socialism is kinda better
Amongst everyone in the USA? That would be a whopping $475 for every man woman and a child.
a mixed economy would be nice
we dont care about the money we just get the 18 million homes in america and fit all the homeless in there and boom homelessness is solved
The two-house-hold-wage requirement to keep a house in the suburbs wasn't a thing until employers realised they could enforce it by lowering wages and upping prices.
This happened sometime in the 50s.
So yes, raising the minimum wage will simply increase prices, as the American capitalism is not well enough regulated to prevent it from happening.
You do realize only like 2.3% of the workforce earns minimum wage, right? The argument that businesses wouldn't pay workers well when most already pay workers more than they're required to kind of falls flat on its face.
The vast majority of those earning min wage are also teenagers. Adults with experience unsurprisingly can tend to command higher wages.
You know what also happened around the 50s? Women entering the workforce in large numbers.
That guy is a fucking retard. Do your self a favor and stop watching him.
Exactly. Employers learned that each household now had two working units, and lowered their wages accordingly.
It's almost as if those speculating in ways of taking your money understands such mechanics.
You make it sound like some conspiracy, though.
It's just market forces. When the size of the labor force essentially doubles, the wages those workers will be able to command is much lower. Basic supply and demand.
duh
Not really. It's simply the product of capitalism.
With proper regulation, it would be simple to enforce a living wage high enough to sustain a household through only one working unit - and with several kids of said household, like in the early 50s and before that.
But that's socialism, apparently, and not at all in the spirit of unbridled capitalism.
Yes. I used to make “youth wage” which was even lower than minimum wage for the first year or so.
But the training wage as it was called, lead to so many jobs that soon enough no one would even look for a job that didn’t pay way above minimum.
All minimum wage does is keep retards from having jobs of any kind and kids from starting in the job market.
There is a wage that some people wouldn’t work for, while others would.
The existence of a minimum wage actually harms other workers, and their wages can stagnate, as the employer sacrifices what could be higher wages for them for the less capable employees who are legally required to be paid min wage.
Minimum wage harms the working person really badly and it should be abolished
I’m 31. I’ve been in my current job for 10 years and before that I had three or four other jobs.
More like 18 million homes and half of them burned down from general incompetence from homeless people and the remainingbf who benefitted die of drug overdose
minimum wage increase just assblasts the greedy fucks who refuse to pay a living wage.
they scream bloody murder and use it as an excuse to raise prices, because they will take any excuse at all, because no matter how much profit they make, or money they have/get, its never enough.
NEVER.
ENOUGH.
inflation is caused solely by raising prices.
raising prices is a personal decision at all times, so you will never see "information" on what causes inflation.
it is greed that spreads like wildfire that causes widespread inflation.
our bills kept going up for no reason, food prices keep going up, now we can't afford anything.
just greed causes inflation, nothing else.
back when you could make a living, prices were always being raised very slowly, now it is very fast, double-digit inflation every year for decades.
without greed, there is little pressure to raise prices.
if they can pay less, they will. they don't care about reality or reason. they are mad with greed
germany "recovered" because they stopped paying reparations for WW1.
they didn't like paying for their 'fun'
if they hadn't started WW1, they would never have lost all that money from losing and so many dying.
>market forces
lol
no such thing exists outside your imagination.
they are a meme of bullshitters.
GREED is your "market force"
there is nothing real in arbitrary subjective values, pricing, trading, buying, selling, or anything you could point to in your "market".
when you buy shares it does nothing for the company, they already got their money at the IPO. the price remains imaginary at all times.
>basic supply and demand
rich greedy retards demand more money and supply as little as possible.
they gladly conspire to make more, you shill.
UK has a minimum wage and low inflation and an extensive welfare state.
For decades welfare payments were better than the low wages available to many at bottom of jobs ladder.
A sensible minimum wage structured above welfare payments ensures that working is economically better than not working. It seems obvious but for decades the system was rewarding non workers more than lowest workers.
Now the benefit cap stops Kebabs breeding like rats and getting rewarded for number of kids. Money for 2kids only.
So the natural order of effort and reward are tiered correctly with Lazy parasites no longer getting more than the working poor.
The largest multinational corporations that dodge tax is US, Europe & UK are the real villains of the economy. They siphon money out of our flow of income and hide it abroad in tax havens for their billionaire owners.
Apple, Facebook, Amazon, Google pay less taxes as a % if earnings than tiny start up companies.
HE BEATS ME!
THEY DON'T EVEN PAY ME MINIMUM WAGE!
I DO THE LAUNDRY AND THEY DON'T WANT TO PAY ME MINIMUM WAGE!