• Sludgeyy@lemmy.world
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    9 months ago

    Yes and no

    Should be a fair wage, but it’s not always a fair wage. In reality minimum wage will always lag behind inflation if you keep raising it to chase it.

    Say minimum wage is $10

    I work a job

    Now, what is the company going to pay me?

    $10

    Fair wage is $12 for the job, but the business is only required to pay me $10.

    In perfect economic conditions, I could go find another company that’s willing to pay me $12, but we all know someone struggling at the bottom can’t just simply switch jobs.

    So the people that want to increase minimum wage want it to go to $12. To make it fair.

    I’d say let them get $10, then tax the company and make sure the person gets $12, maybe even $14 if they need it.