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?
It depends on the goal. Are you trying to ensure a sustainable working class that can afford to support themselves and earn the wages of decent living? Or are you trying to create an exploitable poverty class that can be sapped for profit by oligarchs without admitting it?
https://highlanderjuan.com/wp-content/uploads/2019/05/William-Cooper-Behold-a-Pale-Horse.pdf
I believe the first two chapters of that book may answer that question.
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.
They already lie about inflation to make it look like the economy isn’t in dire straits. Indexing minimum wage to inflation would make them lie even more.
Cost of living adjustments need to become a regular and expected demand from workers. Because yes, if they conveniently fail to give you a raise that at least meets inflation every year, they are effectively cutting your pay in a way that the legal system has absolutely no problems with.
Edit: Not just minimum wage, ALL wage. Inflation adjustments are the bare minimum for the company to be maintaining your value. Performance raises etc. need to happen in addition to that.
Got to think about those poor business if they have to pay a nickel more for labor they would be broke
Joking aside, minuim wage is a hot issue. One side fully believes that minuim wage is in fact a bad thing and shouldn’t exist. So for them putting a bill out that auto raises it would be counter productive to their interests business being able to hire with supply demand
If a business cannot function while paying a decent wage it should not exist.
Businesses with unrealistic business plans fail everyday, it is a basic function of capitalism.
It is not a society’s responsibility to prop up business ventures that waste capital by continuing to pursue uneconomically viable enterprises.
And further more, if a business pays it’s employees such a low rate that they need government assistance and the company is so important that they need to be subsidized like that, the company should be owned by the government.
