Re: Wage increases
Posted: Fri May 15, 2015 7:59 pm
I think this was originally started by a county in CA that raised the minimum wage to $16 recently.
But, now general prices will all go up (inflation) so these workers will eventually be back to where they started in terms of subpar purchasing power. How long of a honeymoon will they have? They better use it wisely because they're gaining at the expense of all those living on a fixed income.
I've noticed that its uncommon to find a teenager working in the downscale fast food joints anymore. It's shocking how old the people are that work those jobs now (and they do a worse job, also). Being tech savvy and higher educated is the only way out of chronic poverty now.
And if these wage increases take widespread root, it will kill the overvalued stock market as above average corporate profit margins mean revert back to normal.
But, now general prices will all go up (inflation) so these workers will eventually be back to where they started in terms of subpar purchasing power. How long of a honeymoon will they have? They better use it wisely because they're gaining at the expense of all those living on a fixed income.
I've noticed that its uncommon to find a teenager working in the downscale fast food joints anymore. It's shocking how old the people are that work those jobs now (and they do a worse job, also). Being tech savvy and higher educated is the only way out of chronic poverty now.
And if these wage increases take widespread root, it will kill the overvalued stock market as above average corporate profit margins mean revert back to normal.