Xnate13X wrote: » It's like asking to get a higher minimum wage. It helps no one in the long run
Xnate13X wrote: » No embers in ANY subscription please. Leave it with pre-order packages only. It just gives more of an excuse to raise prices over time. It's like asking to get a higher minimum wage. It helps no one in the long run, except the government for a short period of time as they collect more money and spend it in a market that will slowly adjust to the inflation. If you want cosmetics bad enough, pay extra. If you don't, don't try to get more for your $ because it will just come back to bite you later.
Noaani wrote: » Xnate13X wrote: » It's like asking to get a higher minimum wage. It helps no one in the long run This is blatantly untrue, and simply exposes exactly which media bubble you like to inhabit. Minimum wage needs to go up with inflation at an absolute minimum - otherwise it is going down. Additionally, if your country/jurisdiction is becoming more wealthy as a whole, minimum wage should increase at a rate above inflation to reflect this.
Kilion wrote: » Minimum wage goes up from lets say 7$/h to 15$/h
Noaani wrote: » Kilion wrote: » Minimum wage goes up from lets say 7$/h to 15$/h Now, since i said minimum wage should go up with inflation, your situation is assuming inflation of over 100%. If this is the case, the issues you bring up are not what anyone should be focusing on. There are far more important things to deal with. If minimum wage is $7, and you have an inflation rate of 10%, then minimum wage should be going up to $7.70, not to $15. However, since historically, inflation is usually around 2 - 3% a year, that $7 minimum wage should be going up to somewhere between $7.14 to $7.21 on an average year. The problem of larger jumps in minimum wage come the minimum rate isn't increased for a few years, and a large jump is needed to essentially bring things up to where it should be. If it is increased every year literally just by the level of inflation, then there will never be any issues like the ones you speak of. Your points are all valid for a situation in which a very large increase in minimum wage is needed, but such increases are only ever needed if the rate hasn't been increased for a few years - as such, these large increases should be looked at as a correction. An increase in minimum wage should never be looked at as an economic tool, it should be looked at as an annual economic responsibility.
Kilion wrote: » True but now consider that the governments of many nations have changed to way they calculate inflation times and times again, mainly with the result that it is reported lower from then on. There are actually sites that calculate inflation according to older formulas to show how that went. Again, not saying that minimum wages shouldn't exist or that they are coming from a bad place but enforcing them through government which has a conflict of interest in that regard seems to not work out in the long term.
Noaani wrote: » This is getting dangerously close to an argument of "we can't do it perfectly, so we may as well not do it".
Noaani wrote: » Of course the way inflation is calculated changes over time and in different regions. Thing is, those differences are going to result in fractions of a percent difference, and when you look at the literal cents that a few percent means, fractions of a percent are literally meaningless. All you need to do is just increase the minimum wage by what ever you calculate inflation to be at that point in time.
Noaani wrote: » Also, governments are the only body that exists that can set and enforce minimum wages. I mean, if you set up a new body to do this, that new body then literally becomes a form of government by actual, literal definition.
Kilion wrote: » Well if your base case is that people themselves are to incapable to demand appropriate salaries for their job, then sure, then you need an institution to do so.
I'm however at how the calculation has changed since the 1970s and what that meant for real wages. And what I see is the reason the rich got richer and the poor staying poor with the middle class slowly joining them. Take the calculation methods from the past and you suddenly are much closer to what people have lived through in the past 2 years than "just" 9% official inflation.