this post was submitted on 31 May 2026
226 points (98.7% liked)
Just billionaire things
278 readers
1 users here now
Post things your (least) fav billionaire does.
This used to be the Elon Musk sub, but in an attempt to boost engagement, we have engaged a new pathway.
You can post anything related to billionaires here.
Tags: Tesla, paypal, spaceX, neuralink, The Boring Company.
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Except that corpos will just raise prices instead of reducing profits, and that's how you get inflation, then $30 is worth less again. In the meantime, the price of shares also goes up, so the ownership class suffers not a whit.
I'm not saying minimum wage is currently correct, just that raising it only has a short term benefit.
I don't think any of these problems are going to be solved with policy.
The thing about raising wages is that it does cause inflation, but it's never 1 to 1. The public gains purchasing power which is what we sorely need.
I don't disagree; I said it was a short term benefit. Because you'll have to fight every single time to get that wage raised again when necessary.
Minimum wage means different things to labor and owners. Labor means "i can support myself on this without having to worry." Owners mean "This is the least we have to pay to forestall revolution."
In an ideal world we would peg minimum wage to maximum executive bonus pay or Senate salary or something like that. It just surprises me that all we ever hear these days to solve a problem is a tax cut when there is another big lever we haven't touched for decades.