most people really dont understand inflation. Which isnt their fault since the government has literally hidden it as best they could. But the reality is a 15 dollar minimum wage could be the harbringer of the american economic apocolypse. https://twitter.com/banalplay/status/1350470788202291200

Mcdonalds employs ALOT of people. But more importantly , their service , providing extremely calorie dense food quickly for less money , would be threatened. They will not raise prices. They will annihilate their workforce instead.

ask yourself what would happen if hundred of thousands or possibly millions of black people (and rural whites) were suddenly locked out of the economy by machines.

this is JUST fast food btw. this will happen across the service industry

unlike many tech advancements that have SLOWLY transformed the economy. This would happen seemingly overnight in like the span of 5 years. It would be completely destablizing

The reality is cost of living is too much , not pay too low.

Our society and economy was built on simple metrics of cost of living , food , rent , and electric/water bills.

We now have multiple new things brought by the internet that make cost of living explode beyond our means.

as sad as it is to say. Entertainment is now just as important as food. And things like netflix are important normie sanity coping devices for many people. Every year the cost goes up. For men playing video games has replaced entirely social gatherings and barhopping

all these things have a built in cost no different than a water bill. And even the poor have to have these things. Its not like the 80s where people could forgo new jap tech to get by.

We are living in the first steps of hyper inflation right now. A minimum wage increase of something like 15 dollars would be insane and light the match to the destruction of the dollar.

the best possible thing for the economy would be Free high speed internet/phone service for citizens that increases in speed slightly every few years to catch up with the private sector. But i dont know how that would work

the reality is having a smart salfoam is a requirement to be a functioning citizen today. And the fact we have to pay almost 100 bucks a month (if you are single) to a middle man for data is crazy. government should provide this.

Transportation is another thing but that has been the original hidden inflation cost since commuting became a thing In the 50s and 60s