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It’s about to become illegal to work if your labor is worth $14 per hour to an employer.

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· Jan 14, 2021

Joe Biden will seek to increase the federal minimum wage to $15 an hour as part of his $1.9 trillion pandemic relief bill trib.al/TrXYokb

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otrading

@ollieinvests

Jan 14, 2021

Dumb take. Companies increase prices to meet inflation every year, if they don't they're stupid. Wages need to reflect changes in the macro economic environment, this can help accomplish that. Easy to say for someone not on minimum wage i guess.

Erik Voorhees

@ErikVoorhees

Jan 14, 2021

Why would an employer pay someone $15 per hour when the product of that person's labor is $14 per hour?

neokensou

@neokensou

Jan 14, 2021

Then the labor is no needed. You had a slave not a worker.

Erik Voorhees

@ErikVoorhees

Jan 14, 2021

When I was a teenager I worked for $5.54 an hour as a lifeguard. Didn't feel like slavery, but it did help me start building skills as a productive member of society.

neokensou

@neokensou

Jan 14, 2021

That’s a different issue. If a business plan is not profitable, why worker has to be forced to work below some salary. The problem is the company, not the workforce.

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and

Lots of companies have business models that don’t work at US min wage, which is why jobs are shipped off to China, India, etc. The higher the min wage, the more jobs go abroad, the more jobless, lost purpose, depression, drug use, health problems. Unemployment is very expensive.

9:27 AM · Jan 15, 2021Twitter for iPhone

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Or..... The other way around: a lot, especially, large businesses outsource to China, India, etc. for very cheap labour, and outcompete products from local labour on price, thus, making local labour non-viable