I do not know why you are discussing “free stuff.” Being paid a minimal amount to WORK, is not “free stuff.” As far as inflation, that is one thing (among several) that has helped make the current minimum wage ridiculous. Check this out:
” The light blue line starts with 1968 — the year the current value of the federal minimum wage peaked at $9.90, adjusted to 2017 dollars — and shows what minimum wage would be had it kept up with the average wage growth. Had the minimum been adjusted for average growth, today’s minimum wage would be $11.62.
And the dark blue line shows the federal minimum wage had it grown at the same rate as American productivity, reaching $19.33 this year, more than double what it actually is. “
https://www.businessinsider.com/how-much-higher-the-federal-minimum-wage-should-be-2017-12
But then consider that some costs have risen FASTER and more than the rate of inflation. For example medical cost, home prices and rents. That is why $16 hr is probably closer to the minimal amount it would take to get by.
As far as Venezuela, I think you are overdoing the whole inflation argument. I doubt we will be eating zoo animals and hunting down cows with clubs and rocks if folks who are flipping burgers get paid a livable wage.
And, another thing, how come nobody worries about inflation when their stock portfolio is going up??? As far as old folks on Social Security - you should have done some more thinking on that one. What do you figure those low wages do to a person who turns full retirement age after having earned low wages for a life time? People who never made enough extra money to invest, or whose companies were too cheap to provide pensions. Or benefits?
Are you aware that Venezuela has the largest oil reserves in the world? (You would have if you had watched the video I linked to in a previous post). This is why they voted in Chavez, to give them free stuff to raise their standard of living. All was good until the price per barrel fell. That created their downfall, while ours just might be our ever expanding debt. Currently we enjoy being the world's currency, if that changes that also might change our abilities as well.
Nope, best to allow the market set prices, not government intervention. It never works. I understand, you are a caring person, but the road to hell is paved with good intentions. Reality is reality.
What happened when Obama made employers pay for benefits for those working 40 hours per week? They limited the employees hours to under 35, so that they could escape the regulations mandating they pay benefits. I rarely eat at fast food places anymore because my tastes can no longer stomach most of the food. But on the rare occasions that I do, I feel the meal I get does not equal the price I pay. Problem is that this hurts the businesses by those who either forgo or pack their own lunch due to the cost.
The only thing that causes these companies to raise the salaries of employees are to attract a higher quality of employee. But even that depends upon the marketplace to be able to bear those extra costs. If not, then companies are driven out of business, or if they can flee to where they can save their company by utilizing cheaper labor abroad.