I'm going to head off to bed

Goodnight

Not yet. I'm actually watching the situation

It would help millions of people and long term it would create jobs with innovation. The problem I see is businesses having increased labor costs which will force them to cut hours, fire people, and raise prices

Short term matters as well in this scenario

Minimum wage was made to be a starting point. The longer you work the more you’ll end up earning so minimum wage is a starting point

This is only true in a situation where you raise the minimum wage by a large ammount in a short time. A hike up from 10 to fifteen for instance. A twelve cent increase in the hourly wage would lead to about a $250 raise in a single employee's annual salary

Interesting

Which is basically nothing

@VulpesVulpes
I’m definitely for your plan of tied minimum wage and inflation, but not now. Businesses are struggling due to Covid and it would worsen unemployment and close more small businesses. Give it another couple years and I’d be onboard

Oh certainly, this isn't the time to be applying any more restrictions onto small businesses

It’s true if businesses are already on their last legs due to, idk, a global pandemic

I think the best course of action is to lower the minimum wage so more people gets employed

Alright, in that case, I think we might agree more than we disagree

Even in a 'on your last legs situation' a couple hundred dollar increase in an annual salary is basically a rounding error

Bad plan

I mean, good intentions

Not by much

but bad plan

No, terrible. Too many people live off of that

Once you've raised a minimum wage, you shouldn't lower it.

It's sort of the problem with minimum wages

If I got a pay cut rn I'd be kinda hosed

True but minimum wages was made to be a starting point

Senor ... honestly I think you should leave economics to ... other people.

An extra $200 ish dollars per employee when businesses are already thousands in debt isn’t good.

😂

I’m just not good when it comes to minimum wage

Thats $200 over a whole year, in a 20k annual salary.

It's literally basically nothing

Like, at that point $200 isn't going to break the bank

If you can't afford an extra $200, ngl I don't think you can afford that employee

XD

You have to remember, Even small businesses can often, if not always are handling over 1 mil over a fiscal year

wow

this is ... not great

2020 inflation rate is only .62%

which ... is getting dangerously low

We should lower interest rates.

😃🔫

That’s per employee. My families business had around 15 employees before it shut due to COVID. That’s a good $3,000 less, which only adds to not making profits this year