Based on how many Americans are liking this post it has broken containment.
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There are definitely legitimate criticisms to be made about the way the living wage is calculated. That can, and should be, address too. It's not either or. What is not working is an arbitrary number that doesn't reflect real costs, let alone a life of dignity, at all.
What I am saying is unless you tie it to ever increasing costs it will just always continue to fall behind. Remember that two minutes they were almost the same? I mean you could say it must be the living wage + a set percent or something. But it has to be tied somehow so that it doesn't lag.
Capitalism requires an exploitable, desperate underclass, the value of whose labor can be stolen for the benefit of the owning class. The threat of joining this underclass is what keeps the middle class hustling, rather than organizing with our comrades and rising up.
Every year the GAO computes the actual per hour working figure for American workers (it’s +$25/hr) based on the GDP numbers. Adjust it to match and every year, workers get a raise! Then set a max wage at x10 for CEOs. That way if they want a raise, they have to give one to everyone.
Common sense would dictate, wouldn't it? I've been dragging the party that names itself after the working class for not having done this for a long time now. It's one of the things I will never forgive them for.
For perspective: in Sweden we don't have a minimum wage standard at all. Our economic model for wages is that it's settled between the worker unions and the business owners. It works out well since most workers are in a union.
I will suggest that your raising minimum wage approach might not do what you want after a short time. Please consider inflation. Please consider substitution of automation in entry level positions. Not a perfect book but it might get you closer to your desired outcome: https://www.cato.org/sites/cato.org/files/sponsor-ebook-page/inclusive-economy.pdf
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By which I mean, OF COURSE.
But it starts with individuals joining a union.
https://www.cato.org/sites/cato.org/files/sponsor-ebook-page/inclusive-economy.pdf
And MP salaries should be set at women’s median wage.
And it should be means tested.