Let’s face it. Raising the minimum wage does nothing except create more minimum wage workers, eliminates jobs as those roles are merged with other roles and increases the cost of living exponentially so that it’s even more difficult to survive on minimum wage.
The only reason it would increase cost of living it because executives can’t handle having slightly less profit and always need to be increasing it. I don’t get why they can’t be satisfied with a stable stream of income when they’re already filthy rich. It’s past greed at that point.
It’s not even that. Our currency’s value isn’t based on a constant value like precious metals or jewelry. It’s based on the perceived strength of the US economy. Something even as negligible as an increase in the minimum wage devalues the currency.
The best analogy I can make is that the corporate world is a ladder. Minimum wage is of course the first step on that ladder. The idea to get more financially secure is to climb the ladder until you feel that you make a comfortable living. Raising the minimum wage is like calling the first step Step 5, Step 7, Step 15, etc… It doesn’t change the fact that it’s still the first step on the ladder. What’s worse, every time they change the name of the step they knock the next step of the ladder out, making it more difficult for you to make it to the next step.
In a way you can effectively argue that the minimum wage is a tool of the rich to keep the majority of the people poor.
Publicly traded companies have a legal responsability to their shareholders to make financial decisions that result in more profit. Things like morals aren’t factored in.
I’m not sure why this is being downvoted. It fucking sucks for sure, but it’s true. It’s one of the biggest flaws in our current system.