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[–] ViolentlyMasticates 2 points 24 points (+26|-2) ago  (edited ago)

We recently raised the minimum wage in Australia, and despite a housing bubble and other issues, the unemployment rate has remained stable. We do this every year or so to keep in line with inflation, because, you know, that makes economic sense. If its not being at least minimally matched to inflation, it means that the minimum wage goes DOWN every year inflation goes up.

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[–] dart200 4 points 13 points (+17|-4) ago 

get your proof outta here! Got no room for that in a libertarian wet dream!

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[–] ViolentlyMasticates 0 points 15 points (+15|-0) ago 

Honestly I'm surprised people are not listening to the argument for minimum wage. Do they want to remain wage slaves on literally tips per shift? Considering the Bernie Sanders circlejerk (which is pretty justified) around here, people still seem to have this weird idea that it will always be a bad thing.

Inflation is a major issue, and most companies in the world increase wages in order to keep up with inflation. Why should we prevent those on the lowest wages from having that? If its not being at least minimally matched to inflation, it means that the minimum wage goes DOWN every year inflation goes up.

I'm not saying Australia doesn't have issues, specially with union corruption (which is actually keeping wages pretty stagnant), but we've at least got minimum wages sorted out. America doesn't need as big of a jump to Australian standards as things in America are cheaper, but there definitely needs to be an increase.

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[–] Ripper 2 points 1 points (+3|-2) ago 

C'mon 100% in 5 years will be with the price of inflation? I'm not arguing against a bump in minimum wage to rise with inflation, but my god the CPI stats of this country are grossly flawed and rigged so I think that will be even working against you. Let's see were Australia is soon with the commodities tanking and see what kind of effect it will have. I really don't even think that 15 bucks an hour is a livable wage anymore. I think that QE and negative real rates has stripped the value and wealth from the middle class that 15 bucks will just be like prescribing advil for pancraetic cancer.

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[–] Fuzzy_Dunlop 0 points 0 points (+0|-0) ago 

The effect minimum wage hikes will have on unemployment are definitely overstated, but raising it incrementally to keep up with inflation isn't proof that more than doubling it in a few years won't have some effect.