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GOLD! [RANT]: Raise the minimum wage! This is so unfair!

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Kevin88660

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My thoughts on the minimum wage argument is that I don't know if it will actually work.

But one thing that has fascinated me is the moral indignation that comes up regarding this topic. A huge portion of the population is, to be blunt, simply too stupid to achieve much in either the fast lane or the slow lane.

But that isn't to say that they can't offer useful contributions to society as a whole, and I think that an advanced society such as this should look for ways to lift its people out of poverty (while still acknowledging that unfortunately, poverty will always exist).
I do not think it is the right policy either.

But it is good to have some form of basic social safety net/income supplement, even from a businessman’s point of views.

It is not that easy to make money in an environment where most people are dead broke.

If you look at the latest development in business-AI/automation/offline to online..fundamentally it is about Cost Cutting.

Global Business Community loves the good old days when North America and Europe loads on debt and do binge consumption. I mean it literally.
 

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ryandoak

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Aug 1, 2018
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South Ogden, Utah
I see people posting this picture and similar ones all the time on my Facebook timeline all with the same message, but for some reason today it irritated me more than usual.

The simplest delta between the Slowlane/Sidewalk lifestyle and the Fastlane lifestyle is:

***Drumroll**


Mindset






Wahh wahhh boo hoo.


The 99% needs to shut the f*ck up and get off their a$$ and create value so that you can be that "CEO" guy.

Technically, the last girl is headed in the right direction, maybe. Just depends where her "second online income" is coming from and how much time it's costing her.

About a year ago, I was these people. I thought the exact same way they do, which is the same way my mother and most of my family still does. Complaining because "the price of groceries is going up! This is outrageous", well maybe you people should do something about that! Yanno...something other than continuing down the same path of insignificance that society pre-subscribes you to.

I mean I know this is constantly talked about on here, but it took me until this year to really flip my mindset from "value-consumer" to "value-producer", and everything that goes along with it, and also it took me until this year to realize that this is how roughly 99.999997% of people think.
Then they get to be 65 or late 50s and I have to hear them whine and bitch because they worked all their lives and have back problems and now they have nothing to show for their 50+ years of toil.

I mean is this REALLY how most people are content living and thinking?
Yes, yes it is. They are perfectly content bitching about other people's prosperity, rather than focusing on what they can do to better themselves.

It's far easier to criticize others than it is to reflect on one's own decisions.
 

ryandoak

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 1, 2018
38
42
109
21
South Ogden, Utah
My thoughts on the minimum wage argument is that I don't know if it will actually work.

But one thing that has fascinated me is the moral indignation that comes up regarding this topic. A huge portion of the population is, to be blunt, simply too stupid to achieve much in either the fast lane or the slow lane.

But that isn't to say that they can't offer useful contributions to society as a whole, and I think that an advanced society such as this should look for ways to lift its people out of poverty (while still acknowledging that unfortunately, poverty will always exist).
Poverty is relative. What's considered poverty in America is considered middle class in Guatemala. Absolute poverty is like 1% of the population in America.

The reason minimum wage doesn't work is because it increases unemployment. Wages are the price for labor. Like any price, it's regulated by supply and demand.

The price for something stabilizes at the point where the quantity demanded (jobs offered with certain qualifications) is equal to the quantity supplied (candidates for jobs who have such qualifications).

When you artificially raise the price of labor (through minimum wage), the supply of labor exceeds the demand for it. This creates an unsellable surplus of labor. This unsellable surplus is commonly referred to as unemployment.
 

Mark_Entr

New Contributor
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Aug 18, 2020
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That was your generalization not mine, "all poor", "all rich" ... Logic fallacy: Strawman

You're probably right regarding the written words being my generalization, however, the picture does imply them, don't you think ?
- people would see the poster & think "the poor are just lazy".
 

Kevin88660

Gold Contributor
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Feb 8, 2019
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Singapore
You're probably right regarding the written words being my generalization, however, the picture does imply them, don't you think ?
- people would see the poster & think "the poor are just lazy".
There are hardworking and lazy people in slow lane and minimum wage job. I think there are comparative less lazy business people because it is very demanding to deal with so many aspects but I do not want to generalize.

I think it is especially true in this economic climate. In Singapore there are people who work in retail in day time and drive delivery at weekends To make more money. I definitely will not say that they are lazy. Probably they are not academically inclined at school when they are young to make in college.

There is also a lot of anxiety For office workers in the slow lane. There is constant fear of jobs getting outsourced or replaced by AI. There is constant pressure to get another industry certification, or “learn to code” or “network to know the right people”.

Business owners of course are the ones taking the most risk, and in this post 2008 and post Covid economy, took the biggest hit.

There isn’t so much of a “class animosity” here Where I live because everyone sort of intuitively know the it is extremely hard to be a business owner. When the workers work in small companies they see how their employers bust their a$$, risking their houses taken away by the bank. You see it everyday when you work for them.
 

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