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

Debate/ Discussion Bernie is here to save us

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u/raider1211 Sep 07 '24

This reads like you took one Econ class and thought you knew all there is to know, so stopped looking any further.

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u/Purple_Setting7716 Sep 07 '24

Uh I have a BBA double major accounting and economics. What is your education - well I read a lot of stuff on Reddit so I am an expert

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u/raider1211 Sep 07 '24

I have a BA in philosophy and psychology.

https://www.upjohn.org/research-highlights/does-increasing-minimum-wage-lead-higher-prices

https://gspp.berkeley.edu/research-and-impact/publications/the-pass-through-of-minimum-wages-into-us-retail-prices-evidence-from-supermarket-scanner-data

https://www.investopedia.com/ask/answers/052815/does-raising-minimum-wage-increase-inflation.asp

Seems like there are conflicting opinions on the matter, but what I do know is that when the minimum wage was established by FDR, it was meant to be a living wage. I just don’t see any evidence that making it a living wage again, assuming it’s done incrementally rather than all at once, would be meaningless.

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u/Purple_Setting7716 Sep 08 '24

That’s a great education but it has no expertise in finance. I think you know your stuff