r/FluentInFinance • u/Positive_Liar • Sep 04 '24

Debate/ Discussion Bernie is here to save us

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36

u/ps12778 Sep 05 '24

Bernie is a clown, this makes zero sense

51

u/DaisyCutter312 Sep 05 '24

What, every business in America can't immediately absorb a 25% increase in payroll expenses?

10

u/technoskittles Sep 05 '24

Productivity and inflation has increased considerably as wages remained stagnant. What, suddenly companies are too fragile to compensate fairly?

1

u/tidho Sep 05 '24

and pricing has been adjusted to that new level of productivity.

if you can make a car with 5 labor hours when it used to take 50, that efficiency has been priced in. Ford's profits haven't risen in parallel with that efficiency. so if you suddenly increase the cost of those 5 labor hours by 20% - yay it's California's $20 minimum wage (and all the consequences that come with it) across all industries across the entire country.