Anonymous #1 12w

$30 by 2030 would nearly double the minimum wage in 5 years

0

Anonymous #1 12w

Well luckily everyone will be making more money so 🤷‍♂️

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Anonymous #1 12w

That’s fucking awesome

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Anonymous OP 12w

Hmmm nvm I guess we’ve done that before in other states when we jumped from 7.25 to 15 over 4-5 years. Maybe it’s doable then. I was concerned it was unprecedented

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Anonymous OP 12w

Everyone will be making more money but businesses will raise prices because they have to pay their workers more. It hasn’t led to much of a vicious cycle in the past, but I’m not sure what prevents a vicious cycle of price increases to cover wage increases, which would require further wage increases, which would require further price increases

1

Anonymous #2 12w

It’s gonna happen and there’s nothing you can do to stop the zomentum

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Anonymous #1 12w

Labor costs are only a percentage of prices

1

Anonymous OP 12w

Right, I know. But think about the argument against tariffs: they’re just going to be passed on to the consumer, right? So what happens with increased wages? Companies could even raise their prices beyond what increased wages would require and just use that as an excuse (they’ve already done this with inflation and tariffs)

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Anonymous #1 12w

Tariff on a product goes up by $15, price of product goes up $15 Price of the guy selling 100 products an hour goes up $15, price goes up $6. So the guy gets a net benefit of $9

3

Anonymous OP 12w

Oh shitttt that’s a good point, idk why I didn’t see it that way

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Anonymous #2 12w

How is that any different than what’s already happening?

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