More money in the pockets of entry-level workers sounds great, but Rachel Greszler of the conservative Heritage Foundation argues that such workers, and the economy writ large, are hurt more than helped by increases in the minimum wage.
@Bongo_Stryker@wintermute_oregon Well this is interesting…that net productivity you cited is far below the rate of inflation over the same time period, which is 256.49%.
@Bongo_Stryker@wintermute_oregon I also calculated the numbers, the companies are actually slightly disproportionately disadvantaged. Productivity over that time period for companies was 24.9% of the rate of inflation, while hourly pay rose by 28.3% of that productivity. Not even a massive difference TBH. It doesn’t seem as unfair as it sounds at first glance.
@breadsmasher Nope, so I guess I have you beat in that category 😜
You insinuated that my numbers contradicted something analysts had said, so I was thinking you had a source for what those analysts were saying, which would prove me wrong. I guess not!
@Bongo_Stryker @wintermute_oregon Well this is interesting…that net productivity you cited is far below the rate of inflation over the same time period, which is 256.49%.
https://www.calculator.net/inflation-calculator.html?cstartingamount1=100&cinmonth1=13&cinyear1=1979&coutmonth1=13&coutyear1=2020&calctype=1&x=Calculate#uscpi
You’d think this would hurt companies, but naturally it hurts the people at the bottom most.
@Bongo_Stryker @wintermute_oregon I also calculated the numbers, the companies are actually slightly disproportionately disadvantaged. Productivity over that time period for companies was 24.9% of the rate of inflation, while hourly pay rose by 28.3% of that productivity. Not even a massive difference TBH. It doesn’t seem as unfair as it sounds at first glance.
Ah yes. The classic “i ran the numbers far better than any financial analyst”
@breadsmasher Send me your financial analyst numbers that contradict this, and I will accept them.
Did I ever claim to be one? Did I post any numbers at all?
@breadsmasher Nope, so I guess I have you beat in that category 😜
You insinuated that my numbers contradicted something analysts had said, so I was thinking you had a source for what those analysts were saying, which would prove me wrong. I guess not!