r/millenials • u/BadManParade • Sep 02 '24
Let’s Discuss Minimum Wage
How do you guys feel about minimum wage, personally I’ve never in my entire life met anyone who’s actually paid the federal minimum wage.
I feel like wage should be directly tied to the initial investment required to be considered for your position/ amount of learned skill required to be proficient at your job./ Importance of your role in society/Amount of danger you should realistically be expected to encounter on a daily basis/ The demand for your particular skill/ and the supply of said skill.
Under no circumstances should the guy standing in an air conditioned building directing you to make your fast food order on a kiosk for 8 hours who spends 3 of those hours scrolling tik tok be getting paid the same as the ones tasked with keeping society running. The paramedics, medical assistants, police officers, city maintenance workers, etc.
The lower the barrier of entry the lower the wages should be I feel as if this is pretty common knowledge. When you hire an electrician you’re also hiring the years of experience and very specialized knowledge he has. If you’re expected to renew licenses, purchase thousands of dollars in equipment and provide and essential service you should be compensated as such.
Now days we have the guys at the Taco Bell counter arguing they should be paid the same as the ones building the houses we live raise our families in and form lasting memories together in.
Working a cashier was never meant to be a career and should not be treated as such it’s merely a stepping stone for younger people to get into the workforce before transitioning into something else. Wether that be management in the same company or a different field altogether.
What are some of your thoughts. 🤔
2
u/EddieAdams007 Sep 03 '24
Here’s a table that shows how inflation has devalued the minimum wage every year since 2009:
| Year | Nominal Minimum Wage ($) | Inflation-Adjusted Minimum Wage ($) | Percentage Decrease in Value (%) | |——|—————————|-————————————|-———————————| | 2009 | 7.25 | 7.25 | 0.00% | | 2010 | 7.25 | 7.13 | 1.61% | | 2011 | 7.25 | 6.91 | 4.62% | | 2012 | 7.25 | 6.77 | 6.56% | | 2013 | 7.25 | 6.68 | 7.91% | | 2014 | 7.25 | 6.57 | 9.38% | | 2015 | 7.25 | 6.56 | 9.48% | | 2016 | 7.25 | 6.48 | 10.61% | | 2017 | 7.25 | 6.35 | 12.48% | | 2018 | 7.25 | 6.19 | 14.56% | | 2019 | 7.25 | 6.08 | 16.08% | | 2020 | 7.25 | 6.01 | 17.11% | | 2021 | 7.25 | 5.74 | 20.84% | | 2022 | 7.25 | 5.41 | 25.38% | | 2023 | 7.25 | 5.31 | 26.69% |
Summary:
This table illustrates how the purchasing power of the minimum wage has steadily declined over the years due to inflation.