Another Friday morning with increased prices at the pump, and anyone that has been doing the shopping lately, it is not hard to see that prices have been on the rise. Home assessments are coming out with many people discussing the fact that those have increased since last year and we won’t even talk about the real estate market right now. Seems that everything is going up, so what can we do?
Looks like help is coming, slowly but surely. For a few years now a $15 minimum wage has been discussed as what is needed to fix the whole situation. Looks like April 1st we take a step toward that goal. Officials are recommending that minimum wage increase by 40 cents an hour to $13.35 on April 1st. They are also recommended an increase to $13.60 on October 1st with a path to a $15 minimum wage by 2024.
But is that really the best fix? What about those that work for an unchanged salary? There are many ways to look at it.
I have heard lots of stories growing up about people working for a dollar a day. When you hear that if you are thinking of today’s prices, that seems crazy. But then when you look at the value that dollar had back then, it is wild to think how little worth money has today.
Why a dollar today is worth only 5% of a dollar in 1940
That dollar could buy A LOT!
I don’t know the answers, if I did I would likely be sitting in a different chair than I am this morning and making more of that worthless money, haha. But I do see that when the cost of production goes up, the price of the end result has to increase as well, and labor cost is a big part of production cost. I hope this fix of a $15 minimum wage works, but I will believe it when I see it.
This whole scenario reminds me of a classic cartoon I saw the other morning on rerun about a king with the “golden touch”.
Food for thought.
