Once Bidan gets his “agenda” passed, 45/Hr to everyone should equate to current minimum wage for everyone. (Not a math wizard, just saying it won’t feel like 45 an Hr)
It doesn't matter what they set the minimum wage at, it will never be a livable wage. The economy will adjust to it, making it the same as the current minimum wage.
The rise of the machines. Automation. Then the kids will be making $0 per hour. Oh, and anyone dreaming of "universal basic income" as a result would be wise to remember the $3,200 total dollars we were apparently supposed to live on for a year during covid measures.
$45/hr equates to about $92-93k/yr. Employers also have other costs on top of base pay that they (most) pay on behalf of the employee making that $45/hr. Employee's total cost of employment closer to $110-115k.
Wheelbarrows, they were the top selling consumer item of the Weimar Republic when you needed something like 10million deutsche marks to buy a loaf of bread.
Once Bidan gets his “agenda” passed, 45/Hr to everyone should equate to current minimum wage for everyone. (Not a math wizard, just saying it won’t feel like 45 an Hr)
It doesn't matter what they set the minimum wage at, it will never be a livable wage. The economy will adjust to it, making it the same as the current minimum wage.
Or employers will cut everyone’s hours down by half or hire illegals to work for pennies.
The rise of the machines. Automation. Then the kids will be making $0 per hour. Oh, and anyone dreaming of "universal basic income" as a result would be wise to remember the $3,200 total dollars we were apparently supposed to live on for a year during covid measures.
$45 will be the slave wage.
Good thing that isn't the wage tho, and just signals for #45 coming back. Even the current resident knows it 😁
I hadn't even thought of that. 45 and 17, two very odd numbers that continue to repeatedly appear in political and current affairs discussions.
That's bringing to mind the screen in the wall of the main character's (I can't remember his name) apartment in "1984".
$45/hr equates to about $92-93k/yr. Employers also have other costs on top of base pay that they (most) pay on behalf of the employee making that $45/hr. Employee's total cost of employment closer to $110-115k.
Investment tip:
Wheelbarrows, they were the top selling consumer item of the Weimar Republic when you needed something like 10million deutsche marks to buy a loaf of bread.
The idea is to massively devalue our currency. He wants to mint 1 TRILLION dollar coins to 'pay down our debt.'
The way this inflation is going that will be like 10 an hour...we are headed to Weimar republic level hyper inflation.
An easy estimate is 2000 hours per year. That is 40 hours with 2 weeks vacation
Businesses aren't stupid, people are. Prices will go up by a few percentage more than wages, every time.