Joe Biden has promised to raise minimum wage as soon as he is in office. (If he can)
Why does he care so much about this?
It's artificial pricing for labor...will absolutely cause inflation and many jobs and businesses will go overseas because of it as labor is much cheaper there.
And where Joe (as does any Democrat) refuses to admit this is the goal...it very much is the goal. He is sending jobs overseas or at least over the border.
Also it gives labor unions another boost in the arm as they usually have contracts for labor that are based on the minimum wage.
The average family household in America runs off of two salaries making @ $45,000 US. for a total income of about $90K. But in certain areas there exists very low skill jobs like furniture manufacturing or assembly line type jobs...
Usually these low skill jobs are also environmentally unfriendly. (Leather tanning)
These jobs evaporate when minimum wage gets raised. Because if a widget costs $80 each to make in America it only will cost $11 each with overseas manufacture.
Of course these widgets will sell for the exact same price as always...And somebody else's front yard gets all the sludge from making it.
But also...the "somebody else" gets a job building it.
Much of the world $9,000-$12,000 US is a year's salary...they don't purchase as many commodities (consistent price around the world) as Americans on a consumer level. Because wages are so much lower. And where $9-12K won't buy luxury food and lifestyle...75% of the world lives on rice and beans of some sort...and is happy to have the job.
When there aren't any jobs the gangs rule the streets. Having to pay a bunch of thugs for the "privilege" to pick through garbage for anything of value to sell...
Now here in America the service jobs suffer the most. Automated Ordering and online ordering for fast food or retail goods help cut costs immensely.
If Amazon could get a robot to deliver your purchases...it would.
Concerts roadies and hotel cleaning staff suffer...so does the quality of service because higher forced pay doesn't equate to better service. A high paid moron is still a moron.
But the higher wages makes shipping go up, foreign policy becomes much easier too.
Why does he care so much about this?
It's artificial pricing for labor...will absolutely cause inflation and many jobs and businesses will go overseas because of it as labor is much cheaper there.
And where Joe (as does any Democrat) refuses to admit this is the goal...it very much is the goal. He is sending jobs overseas or at least over the border.
Also it gives labor unions another boost in the arm as they usually have contracts for labor that are based on the minimum wage.
The average family household in America runs off of two salaries making @ $45,000 US. for a total income of about $90K. But in certain areas there exists very low skill jobs like furniture manufacturing or assembly line type jobs...
Usually these low skill jobs are also environmentally unfriendly. (Leather tanning)
These jobs evaporate when minimum wage gets raised. Because if a widget costs $80 each to make in America it only will cost $11 each with overseas manufacture.
Of course these widgets will sell for the exact same price as always...And somebody else's front yard gets all the sludge from making it.
But also...the "somebody else" gets a job building it.
Much of the world $9,000-$12,000 US is a year's salary...they don't purchase as many commodities (consistent price around the world) as Americans on a consumer level. Because wages are so much lower. And where $9-12K won't buy luxury food and lifestyle...75% of the world lives on rice and beans of some sort...and is happy to have the job.
When there aren't any jobs the gangs rule the streets. Having to pay a bunch of thugs for the "privilege" to pick through garbage for anything of value to sell...
Now here in America the service jobs suffer the most. Automated Ordering and online ordering for fast food or retail goods help cut costs immensely.
If Amazon could get a robot to deliver your purchases...it would.
Concerts roadies and hotel cleaning staff suffer...so does the quality of service because higher forced pay doesn't equate to better service. A high paid moron is still a moron.
But the higher wages makes shipping go up, foreign policy becomes much easier too.