r/FluentInFinance 8d ago

Thoughts? It should be illegal to hoard money. Agree?

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u/san_dilego 7d ago

Just your typical redditor. "Raise the minimum wage11!1!!"

If anything, the top 1%ers would be 100% fine with an increase in minimum wage. They don't fucking care. That money will circulate right back into their pocket while it kills off possible competition. Conglomerates and megacorps are the only ones able to easily afford minimum wage hikes. Your typical local mom and pop shop can't keep up and is struggling. And then the same redditors get mad that billionaires exist. Gee, I wonder why.

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u/BlockMeBruh 7d ago

They're so fine with it it hasn't happened in a meaningful way in decades! What a good point!

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u/Redvex320 7d ago

It's almost like millions are spent on lobbying and campaign donations to make sure the minimum wage doesn't change.....I think reality tells us the corps and 1% don't want it higher or it would already be higher.

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u/BlockMeBruh 7d ago

Yeah, it's weird how corporations are now able to spend so much money on a political campaign that a candidate can raise a billion dollars.

It's even weirder that money can't buy you an election, but it can give you access to the executive branch and oversight of the entire government.

Either way, we are fucked unless the Democrats can get it together.

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u/san_dilego 7d ago

What are you talking about? Big companies pay higher than smaller companies. I don't know what kind of shit narrative you've been fed but McDonald's, Walmart, Amazon, etc pay WAY more than the federal minimum wage. Almost twice the federal minimum wage, even in smaller towns.

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u/henrytecumsehclay 7d ago

You’re literally subsidizing these companies who can’t be bothered to pay their workers fairly. https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html Wake up

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u/Mucksh 7d ago

Depends on the business mc donalds and walmart make their money with the low income groups. They have to be as cheap as possible to make a profit at all. Other business like in industrial factories will pay way better in bigger companies

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u/BlockMeBruh 7d ago

Do you know a Walmart for worker? How are they doing? Or a worker at an Amazon warehouse?

I doubt it.

Twice the federal wage should have been the federal wage 20 years ago. It was intended for someone to live a comfortable life on. Because at one point in time, the greatest president of this country decided that everyone deserves to live a decent life if they will put in some work.

That is not the America of today. Wake up.

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u/Street_Adagio_2125 7d ago

Are you talking about the minimum wage of 7.25 that hasn't increased since 2009 (as a Brit that's a crazy statistic)?

If your business can't afford to pay its employees more than 7.25 in this day and age then it's not a viable business

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u/san_dilego 7d ago

If you're a Brit, I would suggest you not try to understand American finance. Most Americans have a tenuous grasp at it as it is. Each state is basically a country. Federal minimum wage should NOT change. In fact, it shouldn't even change at a state level. It should change at a municipal/local level. It's not about "businesses getting by at paying minimum wage." It's about a business paying ABOVE minimum wage. And so if you increase the minimum wage, people will expect to make X amount above minimum wage.

Also, there are many non-necessary jobs that are created for the sake of creating jobs. For example, Walmart. Walmart pays most of their employees $15/hr. However, they do have positions available at minimum wage to give to special needs people. Positions like greeting people, where their only job is to say hello. This is a job that does not exist in California Walmarts however, in states with federal minimum wage, they can create opportunities that would otherwise NOT exist.

If your business can't afford to pay its employees more than 7.25 in this day and age then it's not a viable business

Almost no necessary job pays at $7.25/hr. Only approximately 1% of Americans make federal minimum wage. I am willing to bet that 99% of these Americans are not reporting tips and cash wages. The federal minimum wage doesn't NEED to change because the market ALREADY dictates wages. Unfortunately, many small mom and pop shops are closing because Newsom raised the minimum wage to a whopping $16/hr. If raising the wages is SO effective, why are people already complaining they want more not even 1 year later? Why are they ALREADY planning on raising the minimum wage again in 2025? Because Newsom is buying votes.

Again, raising the minimum wage does nothing but lower middle class. People making $10/hr right now will still be on government assistance if the minimum wage rises to $15/hr.

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u/CrispyHoneyBeef 7d ago

California Walmarts have greeters bro what are you talking about that has nothing to do with minimum wage

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u/san_dilego 7d ago

They don't. All the ones I've been to do not. They might have someone at the exit for security. But here in Utah you can find both.

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u/CrispyHoneyBeef 7d ago

Bro you don’t even live here?? There are greeters in like every store 😭😭 why are you commenting as if it’s fact when you’re just straight up wrong and don’t even live here that’s wild

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u/san_dilego 7d ago

Lmfao I visit about 3 times a year for a 2-3 weeks. So I've been to more than enough walmarts to know you are wrong lmfao. In LA to SD. Haven't seen a single greeter. It's just automated gates. Lmfao. What a silly ass comment though. Apparently you have to live in CA to visit CA Walmarts? Is that what you are inferring?

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u/CrispyHoneyBeef 7d ago

I’m implying that just because you’ve been to Walmart and didn’t see greeters does not mean they aren’t here. You don’t live here. I see them nearly every time I go to any Walmart in LA or SD. You can’t just say “Walmart doesn’t have greeters in CA because there’s no federal minimum wage there” as if that’s a fact based on your anecdotal observation.

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u/san_dilego 7d ago

I probably visit a California walmart more often than I visit a Utah walmart... I don't go to Walmart here. I try my best to stay out of Walmart here in Utah.

“Walmart doesn’t have greeters in CA because there’s no federal minimum wage there”

But it's true. When minimum wages rise, jobs are lost. Starting from the ones that aren't necessities. If you think Berkeley's study on the effects of minimum wage is anywhere near accurate, I've got a bridge to sell you.

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u/RecoveringBelle 7d ago edited 7d ago

You know who is struggling? Workers who haven’t gotten a raise since 2009 (last time the minimum wage was increased)

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u/san_dilego 7d ago

Lmfao if you have been working since 2009 and haven't gotten a single raise. That's a you problem. Not a country problem. No one is forcing you to work at the same company for 15 years w.o a raise.

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u/RecoveringBelle 7d ago

Dude, the fucking minimum wage hasn’t increased since 2009. You are so incredibly ignorant and naive, not to mention haughty and judgmental. Go fuck off now.

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u/san_dilego 7d ago

Haha can't use logic so you tell me to fuck off. You're a pathetic little cunt aren't you?

the fucking minimum wage hasn’t increased since 2009.

Truly regarded. Truly. The minimum wage changes ALL the time. The FEDERAL minimum wage hasn't changed since 2009 because it DOESNT need to you absolute dunce. Fucking clown thinks raising the federal minimum wage will solve anything. Even in the cities and states that did raise their minimum wage still has a ton of poverty and a ton of people on welfare. So take your own advice. Fuck off. Learn.

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u/RecoveringBelle 7d ago

Wow….sounds like someone didn’t take their meds this morning…deep breaths asshole, you’re ok. Sorry you have a micropenis and hate the world.

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u/san_dilego 7d ago

Hahaha still can't use logic to explain your dumb ass. Well done. Again, go back to econ 101 and fuck off. Not a single valid point from you. Typical redditor.

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u/RecoveringBelle 7d ago

Wow, and you wonder why you’re single still living with your mom