[alexusblackParticipant@alexusblackJoin Date: 2022Post Count: 0]

July 18, 2022 - 12:13 pm

When you say lift 5% across the board do you mean minimum wage increase for all occupations by 5%? I don’t think government can directly increase wages in other way.

It sounds to me that end goal of the flat increase you suggesting is to help people with lowest income without giving much to people with higher income. Would that be correct?

Wouldn’t same be result be achieved if we increase national minimum wage only (and affected occupations), without adjusting ALL occupations? If I understand it right, that would help only people who are paid next to the national minimum wage but won’t affect higher income earners much. I dollar value that would be very similar to what you are describing. Or am I missing something?

 

[alexusblackParticipant@alexusblackJoin Date: 2022Post Count: 0]

July 18, 2022 - 9:00 am

I think that strait dollar or % are just different numerical representations of value change :-). We can issue it even in cans of tuna to make life harder for people, but this would still add value into economy. Both monetary bonuses and % min. wage increase are tools to increase volume of exchange medium in hands of people to compensate for increased worth of goods and services.

Do you mean minimum wage cut? This probably cause more people to switch to social benefits instead of working, causing gov. to issue more $ and cause more inflation. To cut high earners salary is not in gov. power unless caps are introduces, but that would just make Australia less competitive in western world. Why would I earn less here if I can move to CA/US/NZ and earn more there?

[alexusblackParticipant@alexusblackJoin Date: 2022Post Count: 0]

July 12, 2022 - 8:45 am

For me it sounds like you look at numbers not at values :-). Current inflation and change of price of consumers basket is around 5%. That means that value of money decreased by 5%, decreasing everyones salaries, rental income and so on. This is already a fact that happened due to amount of cash printed during pandemics by AU, US and others to stimulate economy.

To increase minimum wage is to simply bring people who get it back to the income level where they were earlier, not to give them more money.

Yes, this can possibly add little bit more inflation, but I would argue that it is already there but in hidden form. This hidden inflation is presented as imbalance of system between wages and costs. We simply have a choice to restore that balance at cost of extra 1-2% of inflation (total of 7%) or just let people get poorer and create new shittier balance for people of the country. And usually this would have highest negative impact on those with lowest wages as this would be higher % of their income.

But that is just my opinion of course.

• This reply was modified 1 year, 10 months ago by  alexusblack.
• This reply was modified 1 year, 10 months ago by  alexusblack.