California governor Gavin Newsom announced that the state’s minimum wage will rise to $17.40 next year, a ay floor set to become the highest of any US state.
The pay bump will go into effect starting 1 January, Newsom announced on Friday. The state’s current minimum rate is $16.90. In a news release, Newsom touted the move as a salve for working families amid high living costs and took a jab at the Trump administration.
“For years, Donald Trump and Republicans have blocked efforts to raise the federal minimum wage while handing tax breaks to billionaires and big corporations,” Newsom said.
So paying people a living wage is “free money” but what about the millions in subsidies we hand out to companies? The same subsidies they have no intention of putting towards their people and instead use it all for stock buybacks? It seems extremely insane to be upset by this when the larger problem is staring us in the face.
Why do you people insist on mischaracterizing what other people say?
In economics, Free money refers to money borrowed at low interest rates. and I made it even more clear when I talked about the need for more competition and the depreciation of the dollar. There is already too much money in circulation and borrowing at low interest rates gives room to corporations and the wealthy to ramp up prices, buy up more property and and make the lower class compete for limited products, instead of corporation competing to earn their customers dollars.
If the question of free money isn’t resolved than inflation will always outpace wages to a point where it might feel like going back to the feudal times.
If people are always mischaracterizing what you say, maybe take a step back and reevaluate what you are saying.