This is what happens when you increase your minimum income to $25/hr. Burgers will cost $30.
(media.communities.win)
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I guess that's what it is in Switzerland roughly?
You can already see the effects of raising the wages in the US too, despite it not being required. Things that rely on cheap labor in particular are way up. Food is the one I notice the most. I try to tell the people that would have been getting $8-$10 an hour that they still can't live on their newfound $18 an hour because everything else is more expensive too, but they don't understand.
I went and looked for curiosity sake and the apartment I moved in about 12 years ago in Texas has more than doubled in rent from what I paid over that 12 years. You know what though, that apartment wasn't priced for McDonald's order takers to live alone then, and it still isn't. Get roommates and work yourself up, it's not all that hard. Jobs are about as easy as school now, 80% is just showing up on time and regularly. But oh wait, your passion is the arts and you shouldn't have to do a real job.
AI Art printer goes BRR...
I had two buddies that ran businesses in the same city and rough area of town: A pizzeria and a small apartment complex. When they raised minimum to $15 in the city, the first thing the pizzeria guy did was cut back on hours/let people go. He picked up more shifts himself, and it only took 1 person to run the shop at low times. The second thing was raise the price of pizza.
Next, the apartment owner raised the rent because the people that had jobs had more money. But eventually all the prices eventually caught up. The now-minimum wage workers had no appreciably more to show for it. It did sort of level off the low wages. Before, minimum wage was lower than what most people were getting. The minimum bumped them all up to $15 regardless of their previous wage and didn't support much $16 and $17 an hour, at least immediately.