Should the government raise the federal minimum wage?
No, this will only cause prices to increase in a never ending cycle
I understand that more money out (wage increase) would require more money back in (price increase) but in states where the cost of living is astronomically high (example NY), its ridiculous that a $15 minimum wage cant afford someone to live any other way than paycheck to paycheck unless youre upstate in the middle of nowhere. I think the solution to this would start out with standardized pricing for housing around the country. Greedy landlords and people trying to make a bunch of “passive income” is screwing the market and forcing people with similar properties to jump the price, and then THAT cycle is the one that never ends. Greed, whether its corporate or personal has been the enemy since the dawn of time. I understand high income areas and low income areas sure, but there has to be some loophole somewhere that can offer a remedy. Taxing the 1% and big corporations more can also probably help, if someone or some company makes $500M a year, and they get taxed 40% instead of 30%, that’s $200M that can be redistributed. An extra $100 into the pocket of almost every person in NYC perhaps. Also, I’m not saying that people shouldn’t be working for their money and that they should just get it for free, but if not going into the peoples pockets then it should go back into the economy and be able to lower the cost of groceries or basic necessities.
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