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Election 2024: Kamala Harris on NBC vows to double federal minimum wage to $15
(www.telegraph.co.uk)
this post was submitted on 23 Oct 2024
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Good!
Now also link it to yearly inflation annually in December!
The number needs to be set to a good value, but this is the most frustrating aspect of this whole song and dance, because there shouldn't even be a question about whether it should track inflation. Just setting another flat value so we can watch it atrophy away is maddening. The whole concept is directly related to the cost of goods, and the people needing this wage are the most impacted by price changes. And since it's supposed to be a floor, you know minimum wage employers aren't going to voluntarily raise wages to track inflation. They'd be paying even less if they were allowed.
Even if the businesses-first majority of politicians try to low-ball the target, there's no legitimate argument for not making it auto-update. Businesses just like to reap the extra exploitation between updates.