It’s not even that. Our currency’s value isn’t based on a constant value like precious metals or jewelry. It’s based on the perceived strength of the US economy. Something even as negligible as an increase in the minimum wage devalues the currency.
The best analogy I can make is that the corporate world is a ladder. Minimum wage is of course the first step on that ladder. The idea to get more financially secure is to climb the ladder until you feel that you make a comfortable living. Raising the minimum wage is like calling the first step Step 5, Step 7, Step 15, etc… It doesn’t change the fact that it’s still the first step on the ladder. What’s worse, every time they change the name of the step they knock the next step of the ladder out, making it more difficult for you to make it to the next step.
In a way you can effectively argue that the minimum wage is a tool of the rich to keep the majority of the people poor.
It’s not even that. Our currency’s value isn’t based on a constant value like precious metals or jewelry. It’s based on the perceived strength of the US economy. Something even as negligible as an increase in the minimum wage devalues the currency.
The best analogy I can make is that the corporate world is a ladder. Minimum wage is of course the first step on that ladder. The idea to get more financially secure is to climb the ladder until you feel that you make a comfortable living. Raising the minimum wage is like calling the first step Step 5, Step 7, Step 15, etc… It doesn’t change the fact that it’s still the first step on the ladder. What’s worse, every time they change the name of the step they knock the next step of the ladder out, making it more difficult for you to make it to the next step.
In a way you can effectively argue that the minimum wage is a tool of the rich to keep the majority of the people poor.