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Shouldn't minimum wage just increase proportionately to inflation? (lemmy.ml)

submitted 1 year ago by Anticorp@lemmy.ml to c/general@lemmy.world

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Most jobs will give you a performance review and a raise every year to account for inflation and any increased duties you've taken on. We increase minimum wage by massive amounts after far too many years which causes all sorts of economic concerns, business complaints, and just a bunch of arguments everywhere. Shouldn't they just increase minimum wage 3.5% or whatever, every single year?

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[–] pickleprattle@midwest.social 4 points 1 year ago

I put to you that minimum wage should be the minimum amount people need to live and that companies that can't cope with that overhead should go out of business or adjust their business plan accordingly because otherwise they are causing harm to their employees.

I do understand that will indeed increase unemployment for a time, but there are many major corporations with record profits whose bottom tier employees are already subsidized by the government because they can't afford to live.

I think we do need a better support structure to help people who are unemployed for any reason. I get that this all puts stress on companies, but in 2023 companies need to face more pressure to care for the people who make their profit possible, IMO.

Minimum wage needs to be tied to inflation because otherwise it is divorced of meaning and no longer keeps our fellow citizens alive.