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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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[–] phoneymouse@lemmy.world 35 points 1 year ago* (last edited 1 year ago)

Yeah, but then how would capitalists exploit you?

See, if it doesn’t increase with inflation then there is a good chance they can delay giving you an adequate raise for a long time. And, when they do give you a raise, you’ll probably just need to accept less than if you had been receiving them all along.

I hope you’ll consider the capitalist here. He does need to create endless revenue growth, even if that means squeezing his employees until they can’t afford to live.