We should have a $25 minimum wage
It might be a popular opinion because I make more than this and have increased my earnings over the years from $2.90 per hour to what I earn today, BUT why does anyone think the MINIMUM wage should be this high? DO the same people expect to give me a similar wage increase to offset what will inevitably bring on higher costs and probable inflation?<p>I mean assuming minimum wage were $10 and we raise it to $25 arbitrarily, that&#x27;s a 150% increase. At the BOTTOM. Now everyone who wasn&#x27;t earning minimum wage has just had their earning power slashed. What about the employees that worked hard in school or through a series of jobs to get up to $25 per hour? Now they are making &quot;minimum&quot; wage at a potentially high-experience-necessary job? Does this mean that my and other people immediately and automatically deserve a 150% salary increase to keep the earning-power relative? So someone who was earning $100,000 now automatically deserves $250,000?<p>What about costs of goods and services? Do we automatically increase these by 150% too? Gas that is $4 now $10? Rents at $1000, now $2,500? How does that help the minimum wage earners? Sure they have a higher wage, but now costs  (ie inflation) has just skyrocketed keeping them and their buying power exactly where it was previously. And if EVERYONE&#x27;S wages weren&#x27;t increased those not on minimum wage (assuming their wages didn&#x27;t get the 150% bump) just lost out bigly.<p>I am ALL FOR fair wages for work. But resetting and arbitrarily raising the minimum wage doesn&#x27;t work for a sustainable long term solution. Instead, why not pressure companies to minimize profits thereby reducing costs so lower wage earners can afford the basics and hopefully some extra comforts.<p>Why not provide more financial education so lower income workers don&#x27;t get caught in credit card&#x2F;debt and paycheck loan traps that keep them poor. Let&#x27;s put more tax dollars to work in low income neighborhoods and areas.<p>I feel there are so many other ways to lift people out of poverty traps, but arbitrarily raising the minimum wage only looks good on a piece of paper&#x2F;paycheck. In the long run it just keeps people in the same position and hurts those higher up the ladder. And yes I know this last part sounds elitest, but that is not my intent. I am only saying that this hurts EVERYONE&#x27;S buying power in the long run.