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Gotta send Ukraine more money first

Gotta send Ukraine more money first | Liveable minimum wage raise of $37/hr to keep up with inflation; U.S. CONGRESS; NAH, WE GOOD; Living paycheck-to-paycheck minimum wage raise of $15/hr 
(Unless you still live with your parents); YES!
BUT NOT UNTIL 2025 | image tagged in memes,drake hotline bling | made w/ Imgflip meme maker
137 views 2 upvotes Made by GD7374 2 years ago in politics
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3 Comments
1 up, 2y,
1 reply
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You do realize that if wages are artificially raised then the consumer price of goods and services will rise (aka INFLATION) so at some point, probably sooner rather than later, you'll only be able to buy the same amount of stuff with that $37 than you did with that $15 (aka PURCHASING POWER)?

A better plan would be to get yourself out of working minimum wage jobs instead of waiting for some politician to give you something that you haven't earned.
0 ups, 2y
Minimum wage did not keep up with cost of living, and now everything went up again in the last year, and wages still haven't increased. This is also to account for purchasing power that has been lost over the last 60 years. The purchasing power of one single dollar in the 1970s was equivalent to spending about $8 today in 2023, so while the minimum wage of about $12 is roughly equal to the ~$1.60 minimum wage of the early 1970s adjusted for inflation, you could get more out of that $1.60 than you can from a $15-$20 /hour job today. That's where the $33-$37 number comes from. Of course the price of goods and services will go up again, just like they did recently, except all these companies keep reporting record profits, so it's all a bunch of b-u-l-l s-h-i-t !

Of course, no one should settle for minimum wage job. However, minimum wage was designed to create a minimum standard of living to protect the health and well-being of employees. $15 / hour won't cover your rent, food and other living expenses in most states.
0 ups, 2y
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    Liveable minimum wage raise of $37/hr to keep up with inflation; U.S. CONGRESS; NAH, WE GOOD; Living paycheck-to-paycheck minimum wage raise of $15/hr (Unless you still live with your parents); YES! BUT NOT UNTIL 2025