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Is boosting minimum wage enough to offset the rising cost of living?
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- Опубліковано 1 жов 2023
- Six provinces in Canada have increased the minimum wage for workers as the higher cost of everything continues to make necessities like food and shelter harder to reach for more and more Canadians. But advocates are making fresh calls for governments to do more, including a new appeal for a national school nutrition program.
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Like applying a band aid on a broken spine.
No, boosting minimum wags isn't going to help, because I make way more than minimum wage and if I wasn't renting a room from a friend I'd be struggling to pay rent in Ottawa.
You mean it won't help *you*
I’m in the exact same boat my friend
We don't need higher wages. We need lower taxes and a lower cost of living.
The blame should rest with the people who are responsible for this mess: the government.
Agreed! Need Pierre to run this country!
And those that elected this woke joke of a government.
Nah, we need both
Min. Wage, if it had stuck with its original purpose should really be closer to 25/h. It's not nearly enough at this moment
@@wyv3rn1nah bro. Minimum wage should be $100/hr. I need a bmw instead of an Oldsmobile.
I agree. We can start by rolling back home prices to one income for three or less years at minimum wage. Want a higher home price? Raise the minimum wage.
Adding 50 cents or a dollar is far too little when rent has more than doubled in the last ten years. What we need is more and cheaper housing.
Raising min wage will make prices for goods and services go up. The buying power with that new higher salary will not get you more in the long term
Spoiler alert, raising minimum wage just means higher prices everywhere else.
Everyone responding "then prices will rise" -- the economy is NOT a zero-sum game. Banks got billions, zero inflation... a little money goes to 'the poors' during covid and inflation goes through the roof. Prices go up when capitalists get (more) greedy. Corporate profits are at all time highs. Weird.
@@JackDraakexample?
@@keithsim2914 Economists have found that a huge chunk of the pandemic inflation (something like 40%, if I remember correctly) was literally just corporate greed. The used the supply chain issues as an excuse to raise prices even more than was necessary, and pocketed the profits.
So out of touch. At age 19 in 1975 I was making 10.00 per hour, living in the West End near Stanley Park, rent was 200.per month. I lived in a highrise overlooking english bay, and I bought a new car for 4000. I lived like a middle class person used to. My wage wasnt as much as some I was a female distrupting the mail for the company I worked for. . For us in Canada that have worked for 50 years. The younger generation is getting hoodwinked.
Damm. 😳😱☹️the good Ole days
Please explain this to my father 😂
I make 21 bucks an hour in Ontario and wouldn't be able to afford rent for a basic 1 bedroom apartment ffs. Thank goodness where I live my rent isnt high and it's only because I've been living there for 10 years. If I moved out it would jump 1g in rent! Absolutely disgusting.
hey, same with me, but I'm in vancouver. If I'd moved out, the landlady said my one little room would be rented out for 1200g/per month. but as by-law goes she is only allowed to increase my rent by 2% yearly, so every year my rent increases by 20 to 25 dollars.
DROP IN THE BUCKET!
This will be a $2000/yr increase for full time minimum wage workers.
The wage was outpaced by inflation decades ago
and has continued to spiral.
You must be a liberal bot, or not a math teacher lol, actually it would only be 20 a week or $1,040 at 40 hours but don't forget the tax take away another 25%
@@istodaythedayThats the reason @tombottle8041 works a minimum wage job.
@@istodaytheday Where are you getting these random numbers from?
I'm talking about the INCREASED amount for full time (40hr/wk) worker.
The raise in wage is $1/hr.
Work full time 40 hrs/wk, worker gets $40/wk.... $2K/yr as per my original comment.
Scott- a year is 2000 hours, so a $1 increase is $2000/yr.
But you did point out the important part. Of that $2000 you will automatically lose $500 to taxes.
They can hike the minimum wage up all they want, just means more comes off each cheque for taxes.
The buisness then has to pay more in wages, so price of goods goes up.
Yeah but unless you're in the 100% tax bracket, you're still making more.
@@osmosis321 More than what?
@@darrenporter1850 More than you were before the minimum wage went up. I thought that was pretty obvious.
@@osmosis321 There isn't a 100% tax Bracket and people not on minimum wage are not making more? Unless you mean people above minimum wage earn more? Yes? Don't understand the comment.
No, you’re right our Prime Minister’s only worried about them changing their gender, not their food. Thank you, pm Trudeau.
Not very smart are you
No it’s not enough, minimum wage goes up and so does the cost of living 😒
It's not the minimum wage that is the problem, it's the CEOs and Landlords who don't do any work who still want all the money.
@@josephd.5524
,
Because they own the business/property. Plus, their position entail way more responsibility than the average worker/tenant and don't work the standard 8-hour day/40-hour week.
Every time the minamal wage increases,, the price of living go's up ,, fact .
The price of everything was already going up without a minimum wage wage increase, dolt.
@@Masty0001 👀👂😂
@@Masty0001didn’t we already try this, again and again and again? Every time with the promise of a more livable wage. Every time prices go up, and then again the only solution is…. Wait for it, increase the minimum wage!!! We need to stop using bandaids to prevent massive hemorrhaging.
please seek education.
Late stage capitalism
Nooooooo, and all politicians, no matter what party, do not understand this or don’t care. This is not a new problem.
Exactly! All them are shady!
Trudeau’s carbon tax is what drives the cost of living. Anyone who still doesn’t understand this very important point is delusional. Minimum wage increase will also put more money in the government pocket in form of other taxes. Trudeau must go!
Exactly it's a scam
Tell me that you don't understand economics without telling me.
@@madguitarist that’s another way to put it. Luckily most Canadians obviously can and are preparing to get rid of the drama teacher who thinks budgets balance themselves. Should have expected it. The writing was on the wall all along.
@@icantwiththis 💯 we’re expected to believe that CO2 is not plant food
@@pavel0900...thing is...voting Conservative isn't going to change the trajectory that we're on. If anything, it will accelerate it. Poilievre and Trudeau are corporate dreams. They posture and pander to the working class while implementing policies that hurt all workers.
They do it to curry favor from wealthy entities who reward them for taking power from the working class and giving it to them. It's a concentrated effort by the ruling class to create a world where they can have their way with all of us, and not face any backlash or consequence.
Partisan politics are a divide and conquer strategy, and the more polarization there is, the easier it is to conquer. This blind loyalty to political affiliation allows them to rob us blind and undermine us...with our full support.
Removing the carbon tax will not fix inflation or drive prices down. It'll just increase profits for the ruling class, and the prices will stay high. This is how it has always been. Corporate and wealth taxes are at historical lows.
Corporate profits are at record highs across the board...and yet the cost of goods and inflation continue to make life unaffordable for increasing numbers of working people. How can you blame solely the carbon tax for that?
Boosting minimum wage -> Incresed CP -> Bussineses raise prices -> More inflation
An unstoppable force meets an immovable object.
Yup and it's arguments like this that have pushed many Canadians into poverty.
Everything goes up... Never goes back down to original. You expect everyone to continue to make what they made before even though everything went up lol.
@@MelissaHogwood The difference between $15,$16 and $16.50 an hour is minuscule. You have to make considerably more than that to be able to afford to live in Canada. Let’s stop having meaningless conversations over pennies you can make on minimum wage and promote to people actual jobs that will let them lead a comfortable life.
Then why is that inflation and prices have gone up regardless of wages stagnating for the past 3 decades? Perhaps its not wages but instead price gouging, corporate greed and lack of market regulation that rises cost of living
@@sabsab377 Completely agree. If we want trickle down economics to work. Upper management salaries need to be capped across the board, across competitors worldwide. But for how feasible that is .... :) yeah
Every time the wage goes up the prices go up. You're no further ahead.
So what you are saying is that we need to stop paying people and prices will go down.
I guess slavery was always the best way; no one wants to consider actually paying people instead of giving millionaires their pay rises.
@@josephd.5524 how about no more billionaires no more millionaires. Profits tax, profits cap , get rid of the stock market all together.
@@Havel_the_Rock420
How about no and you're free to move to Venezuela where what you advocating is practiced?
It’s $20-40 a week. How much is taken off bc of taxes?
Tax that goes over seas too
Yup, EI contributions have increased and tax is going up too. The Carbon tax is scheduled to increase too.
I've already lost 500$ a month. $40 is insulting.
You want all those benefits, you support ukraine.
Who do you think pays for all that ?
I have a friend who works for minumin wage. The last time they raised it she lost hours and was expected to work faster.
Maybe instead have Herr Trudulf drop the carbon tax used to line the pockets of his WEF buddies.
Funny. No one loses hours when executives get millions in bonuses or stocks
@@atd5684
Not everyone works for big business. It's even funnier how the left think big business is the only employer that exists.
Uhmcarbon taxes are returned to the province they came from. But if you're floating that old wef conspiracy theory I don't expect you to understand things like math.
We often hear you shouldn't spend more than 30% of your income on housing. Calculating 30% of a full-time minimum wage is easy. Are there no short-term solutions to housing affordability?
Even at 70-90k per year you can easily spend 35-45% of your income in a one bedroom which is absurd
@@AC-yt3we Yeah I did the math, cheapest places across Canada need a $24-26 min wage to follow the 30% rule, and average is like $45.
My rent went up over 500 plus utilities that also we t up in Alberta. My rent is now over $1000 over what I paid before. Uvg
Minimum wage is not a sustainable wage, and minimum wage jobs are low skill. Want more money? Get a better job or become skilled. The more minimum wage increases, the living wage will increase as costs for companies (especially small businesses) will go up as well, and costs will be passed onto the consumer.
Your meritocracy argument is BS.
Biggest indicator of if someone will be wealthy?....
If your family is rich.
It's nepotism and the passing of generational wealth.
Exactly. I dropped out of high school and i make minimum 50$/hr working for myself. In the spring it's an easy 200/hr doing yard cleanups but people are lazy these days and want to watch tiktok while they work and not have to sweat.
@@aetherfox4404what year was that?
Raising minimum wage is only hurting small businesses and hurts middle income families. As a small business owner I’m raising my prices to offset this cost. Meaning it’s going to negatively affect everyone else.
Exactly. Increasing minimum wage just increases inflation to match. It's hopeless. It's like trying to suffocate a fire by adding more wood. It might work for a minute, but then you just have more fire and less resources. They'll do anything but address the cause.
@@happydappyman
Which comes right back to government policy.
The problem is there is no maximum wage. No ceo should be making millions/year while their workers have to choose between rent and food.
it wouldn't matter. if they imposed a maximum wage, the corporations would just keep their savings.
So become a CEO.
still blaming the CEO, your scope of the world is limiting itself. Take it up with the shareholders whom ultimately control who is appointed CEO. Names like Blackrock and Vanguard, get familiar with em. Understand who is actually in charge in NYC.
@@alzathoth CEOs need to be forced to pay better wages while having a maximum wage.
@@karlhans6678 CEO's with tens of thousands of employees and subsidiary companies would harely be able to buy an extra lunch a week for every single employee if they sacrificed their wage. You do not understand how money works.
Time for a maximum wage. No more multi hundred millionaires , no more billionaires.
@@paularmstrong1566 in the 60s we taxes the rich way more than we tax them now. Time to do it again.
@paularmstrong1566 Limiting the ultra-rich's ability to unfairly hoover up money needed to make the economy function is only going to help.
@@briguy677 You think the rich are dumb enough to sit here and let the government take their money because people arbitrarily think they “make too much”. Wishful thinking and naïveté at its best I guess.
@@wyattbarnes9641 Funny, that's how it use to be during the "Golden Age," when the middle class flourished. I guess being a coward who bows his head to the rich is more your style.
@@wyattbarnes9641 giving up isnt the answer. ofcourse no rich person is going to forfeit the wealth theyve hoarded, thats why its important to unionize and leverage power as a collective, it all starts with small things like salary transparency, leading to more actionable outcomes like strikes (which have and will work)
This programme is great for families. But it does nothing for the childless single people, the elderly or couples without children. What about Universal pharmacare that would help everyone with the cost of living. My monthly prescriptions are far more than my electricity but I get a low income rebate on the electricity. They did promise it too.
Band-Aids for internal bleeding us usual with Canadian politics.
Boosting minimum wage only increases cost of goods produced.
It does nothing to improve inflated prices. Wake up and smell the coffee people.
Its not enough by a long shot. And even if you give a "living wage" the banks will just make it more difficult for you to get a mortgage, the landlords will just bump up their rents and the government will do zip.
Straight up dude, as soon as people realize they can charge more the WILL
landlords bump up rent because property taxes go up, track that back to the government...which is in bed with the banksters.
Except tax you more.
50 cent increase is insane, its a joke at this point to think that is enough to keep up with even the most basic costs of living.
That will fix everything for seniors who have a fixed income! Great thinking by governments!
Myself and my wife are retired. We think long and hard before we spend money
@@loqutisborg5416 As do I. Still my budget doesn't go as far as it did. BTW I discovered the difference between "want" and "need" a long time ago.
Raising minimum wage raises cost of everything. What do you think? XD
The people fighting for higher minimum wages don’t know this - they’re unskilled and uneducated.
the carbon tax and liberal policies are what's causing the rising cost of living. A wage increase is too little too late.
Raising minimum wage probably isn't the answer. In the end it will only add to inflation. The government getting there spending under control and getting rid of the carbon tax would be a good start.
Justin Singh Trudeau was returning from a G-20 Submission when white powder was found on his Plane. Did he consume white powder? The subject of inquiry is not so😂
Setting a maximum wage limit would be more useful . If politicians made the same wage as the guy harvesting crops in the field then maybe the reckless inflationary spending would stop. If the political elite class did not fly around the planet on private jets then pollution would drop significantly . 400 jets bringing climate change hypocrites to a save the planet conference that could have been held over zoom is not a good look . If it wasn't all financed off the working class it would not happen. Everyone's hour of time should be worth the same , from johnny potato digger to the PM . Wasteful spending over - inflation over - $6000 a night hotel party's for entitled hypocrites over.
He's a nepo baby! He's never had to make his own money OR pay for his own housing EVER!
Not enough, price gouging is eating up everything, just slightly improve
Yeah, it’s not inflation from out of control government spending and taxes increases. Nope
@@BlueTeamRedTeam Those are factors
but the most impactful one is CORPORATE GREED.
@@tombottle8041 ugh. Ok let’s say that is also a factor. Seeing that you’re not going to stop greed by increasing wages, how is this supposed to help?
@@BlueTeamRedTeam "let’s say that is also a factor"
Its THE determinate factor.
Look at stats for worker compensation vs
1) Productivity
2) Corporate compensation
The numbers don't lie.
The only price-gouging going on here is that by the government.
Bad Idea, businesses and companies DO NOT ABSORB THESE COSTS, And more so the government can take more!??! Better idea, AXE THE TAXES!! Let us keep more and spend less.
As long as we're importing 500,000 new people a year we're all going to stay poor.
Well, if you get a buck an hour increase then no. There, saved you having to watch the CBC.
Let's just defund the CBC
The government is trying to tackle the problem of cost of living with social programs that contributes to the ramping inflation. They lose the scope that it’s fixing the economy, starting for stop spending and cut taxes to make the inflation slow down
Yes, some people don't have basic concepts of how economies work at all.
Contrary to popular belief and what big money tells you, cutting taxes is part of why we're in this mess. When we cut taxes on big companies and wealthy people, we put more pressure on the working class to sustain funding on crucial infrastructure and social programs.
This lack of funding invariably always results in programs that benefit Canadians being cut back or eliminated. It's why CPP and EI are ineffective. It's why healthcare here has been getting worse instead of better. It's why our military is struggling with subpar equipment to do their jobs and receiving no support when they come home maimed and emotionally scarred.
Cutting taxes takes money away from these programs and puts it into the pockets of the companies and people who are price gouging us. What we really need is higher taxes on the groups that haven't been paying their fair share, and have been dipping into tax coffers to take way more than they've paid in.
Tax the rich Tax big businesses. Tax landlords, slumlords, realtors, bankers, and property management firms more and proportionally to the rate of inflation. Make post-secondary education publicly funded and eliminate student loan debt. Most of all...pump money into small business, EI, CPP, disability, and veteran support programs.
Spend the money on things that benefit the people who put it there...that being working class Canadians. Give them value for the taxes that they pay, and make sure that the programs that they're paying for are the best that can be had.
If people got bang for their tax buck, then people wouldn't hate being taxed so much. Tangible returns on taxes paid should be the norm, not a rare exception that comes with provisos.
@@madguitarist
Taxing the rich hurts the poor in the long run especially when there's no more rich to tax.
@@shauncameron8390 Disagree...no billionaires and fewer big corporations dominating means more opportunity for small businesses and entrepreneurs. This makes for more even wealth distribution and more prosperity spread around. Billionaires hoarding more money than they circulate is bad for the economy.
We can either do this the easy way, by changing course sharply now, or we can learn the hard way when the economy collapses like it did during the Great Depression. We already have the benefit of historical data to know exactly where giving too much wealth to too few people leads...and it has never been anywhere good.
@@madguitarist
But governments hoarding it is even worse.
Going to need more rent control and breaking of the slumlords. And more grocery stores in general. Having more options so it isn't just 4 companies that can easily just collude.
all fall under the Blackrock banker banner. Including the Walmart...doncha know!? Candians run squat in Canada, just a bunch of compliant corporate heads and avatars...even Galen Weston who ran off to control the board for some more ESG points with his replacement.
Great so low income are still going to struggle let's get real. Also the middle class will likely struggle more as this will inevitably increase prices at all businesses that have mostly minimum wage workers and as always the rich will not notice any difference. Sounds like a great solution
Guaranteed this will increase prices. Businesses will pass on the increase of course.
All this does is increase the costs of everything. If the business is forced to pay increased wages is simply raises the prices of the product to maintain profits. All raises in minimum wage result in bringing down the middle class buying power as their once decent wage is now dangerously close to minimum, and that wasn't designed to be lived on.
Totally. Another inflationary move.
We dont need an increase of the minimum wage. We need things to be more affordable. If I was a business owner and my payable wages go up, that means my CPP and EI premiums that I have to match go up as well. How do I offset that business cost? I put the price of my product or service up to cover it. Its a vicious cycle of wages going up and prices going up to cover the wage increase. Who really wins here? I would say the government who gets to collect more taxes. This is not going to help anyone. We need more affordability.
Here in New Brunswick I had a two bedroom apartment for about $680 a month, in the capital city, while minimum wage was $10/h. This also included power. Since then gas has gone up significantly, that same apartment is $1400 a month and minimum wage is only $14.75/h?
I live in Saint John and even a single room in a shared home is no less than $500/month, homelessness has become a massive problem.
@@kiarawentzell1546I have heard of some NBCC students paying $800 a month each to share one room near campus. This was just last fall. You are correct that its problem.
In today's economy 20$ is the minimum required to survive
Maybe if you work 7 days a week for 10 hour days to afford rent
$20 an hour gets you able to afford a dump apartment for $1000 in b.c. if your lucky $20 mininum wage was ok maybe 10 years ago
@@acaciomadeira5147 maybe possible in small town BC but none of the major cities
The government should step forward and put a cap on the rent these renters charge this is ridiculous
@@mildntender
Um. No. Canada does not need a housing shortage.
Minimum wage increase does almost ZERO to offset the woes caused by such as the carbon tax that affects millions who no longer work such as pensioners and those with medical conditions etc. In fact long term it does more harm overall.
Most of the revenue from carbon taxes get returned to you in the form of credits. In fact low income people benefit from carbon taxes because they get more back than they pay into it.
@osmosis321 That is absolutely not true. A $500 check doesn't even come close to making up for the increased cost of food and fuel caused by the carbon tax.
@@osmosis321No you don't. The fact that you believe that shows how gullible the average Canadian voter is.
@@osmosis321 I call bullshit on that. In fact the government's own departments call bullshit on it too.
@@Jane-yg3vz yes it does.
This is all ridiculous. They HAVE to do more for people on disability its the sasdest thing I've ever seen. Giving people an extra couple of bucks doesnt fix a thing when JUST rent takes MORE than you make. We USED TO HAVE A RENT CAP.....ever since removing it things have increasingly gotten worse and worse. Put it back to start with. Stop putting money into srupid things like Metrolinx and garbage we dont need and give it to the people!!
Minimum wage increases = higher prices, less hours/employees and concepts like "self checkout". It has never fixed the issue, and never will. Government meddling only makes things worse off.
Unfortunately raising labour costs will just get dropped on the consumer increasing inflation even more. This does nothing to the billionaires and just hurts small business, people the Canadian government wants to destroy and replace with billionaire monopolies.
Taxing the rich ironically hurts the poor.
Increase wages, increase prices. The cycle continues...
40 hours per week should be enough to cover your living costs.
Children on properly nutritious meals do better academically!
Raising minimum wage? Not only will it be barely helpful to people (it's not going to be enough to live regardless), but it's also inflationary. So it will just make things even more expensive.
Increasing minimum wage is only going to make things worse, it always does. Businesses increase prices to offset the extra cost they have to pay out. In the end we are left with a slightly larger paycheck but with significantly less money to spend. You really want to help Canadians? Fix the immigration and housing problem. There are not enough jobs or homes, yet we bring in more people. This means more unemployment, more funds allocated to welfare, and an extremely competitive housing market.
Liberals are to blame for all of this.
Canada has had enough.
I make 20$ an hour and barely make ends meet. We need affordable housing, and we need to lower the cost of living. Dont throw the discussion onto min wage workers, throw it onto the corporations, landlords and people in governement who are lining their pockets with other peoples suffering.
The current ruling Liberal Party is the ultimate problem.
Business will have to raise prices, governments tax more.
Government wants to help?? Reduce all income taxes, eliminate the carbon tax and all other full taxes, suspend property taxes, allow homeowners to deduct interest from personal income taxes.
Why not lower cost of living instead? Everyone wins, not just a few.
Wow the amount of idocy. Now it will cost more, and less people will have work. There will not be small businesses at the end of Trudeaus reign.
Can you think of a PM that has done more for big businesses and monopolies?
lower taxes would do more for everyone. freeze public sector wages until there is no more deficit. get out of ukraine. im not even educated and i can figure it out
Some countries like Kuwait, Bahrain or Oman u need minimum wage of 1000 rial or dinar to cover everything, increasing minimum wage is not a solution, rent control is very important, why one bedroom apartment in Ontario or Vancouver is over 2500 ? For Canadian dream one bedroom should be 650 and two bedroom should be 850. Government is responsible to build affordable housing all over Canada
Only if you want to further exacerbate and perpetuate the housing crisis through lack of hosing availability.
Minimum wage increase contributes to inflation.
When throughout history has forcing businesses to pay more to their employees EVER been an effective strategy against cost of living? Short-term, maybe but it's a band-aid on a gaping wound at this point... Cost of living will continue to rise with inflation the current regime is causing. It's costing businesses more also, so why force them into paying out even more? Something has to give and the one thing that has the MOST wiggle room right now is reckless Liberal spending.
Small minimum wage hikes have never kept up with inflation over the last 50 years, which is why were talking about it now… still
Provinces raise minimum wage ->Cost of labor for goods increases-> cost of goods increases. How about we stop giving out so much free money, to force businesses to charge less for goods? Or force politicians to take an introductory course in economics and inflation?
How 'bout, what's anyone need a mil or more a year for?
Hm?
Currency reps national asset load.
Only so much exists.
Share the load, bro.
It's totally pointless without the government warning the businesses from increasing their prices... everytime there is a minimum wage increase, the price of everything increases as much or more... from Petrol to Groceries to car parts and even places like Home Depot, Rona, and the rest...
So me being the business owner is just supposed to take this raise in minimum wage as a loss in profits? That’s not how it works Sam. Small businesses are already struggling to survive.
Price controls do not work unless you don't mind shortages and having nothing to buy with this newfound raise in wages you received.
Try lowering taxes and controlling government spending first!
But the government can't, because there are too many people depending on them for their survival and livelihoods (social assistance-recipients, pensioners and public/state-sector employees.)
When wages go up the cost of living goes up...always has always will. Never get ahead unless you earn above the tax line of the very well off...
Foregone conclusions may seem to provide answers.
I don't like predicting the future though, the odds rarely matter to me.
I like seeing people for who they are and people are greedy. Sometimes it's time, sometimes it's food, sometimes it's money, sometimes it's charity.
Everyone has a vice, some, thing, they each want to do a lot. For Musk, it's change. His kids tampered it a bit, not much.
Ever hear the phrase "be careful what you wish for"?
What else is a prediction of the future?
You gotta make at least 20 per hour to afford to live.
I make more than that and 60% of my wages go to rent... I'm one of the few that has cheaper rent!
What province?
@@zacatkinson3926 Ontario
Raising minimum wage will only increase the cost of living, as employers will have to raise prices to pay for the increased wages.
.50 X 40 = $20 a week. I am taking a holiday!
increasing minimum wage only makes prices for everything higher. But greed is rampant, so cutting minimum wage will not have the reverse effect. I bet that if you increase minimum wages by a whopping %50, that will inevitably have a ripple effect and everyone will want that %50 increase. Now everything costs %50 more to just on labour alone. Businesses cannot afford that, so they will increase cost of goods by %60 or more to offset. Its a vicious circle.
Buy a good tent and warm sleeping bag people. You will need it sooner than later.
But don't worry about Trudeau and Ford and all their friends. They will make millions off your back regardless of what you make
Well that's ok at least if pensions and disability payments where hiked then could leave Canada and become an expat in another country that's way cheaper to live
@@acaciomadeira5147Oh i'd love to do that. Just waiting for my lottery retirement plan to come through :)
Current inflation is a compound form of inflation from cost-push and supply chain interruption. Yes, surely minimum wage needs to be readjusted as overall wage and value of our work have been decreasing and under-evaluated during last decades of financialization. But the overall cost problems by profiteering, price-gauging and by speculation need to be addressed in priority. Otherwise, all the increased wage will go directly into, for example, landlord’s pocket without generating any multiplier effects. And this will exacerbate entire economical system. Due to current cost crisis, wage increase won’t be effectively converted into consumption-production chain. It will only make handful of already super rich people richer. Without the correction on the cost side and on the social structure of wealth distribution, the wage increase will only give a bigger leverage to super wealthy political sponsors to be even more powerful. Worst is that we may start seeing some people politically attacking the wage increase as the root cause by pretending the current inflation as a built-in inflation. Regarding current political structure where we have so many ultra-liberal provincial governments, thing s don’t look good. We may get into a total rentier society in Canada except few provinces with still relatively healthier social-security systems and public opinion.
You're completely right. I get so angry when I hear "financial experts" blame prices on "wageflation."
Wageflation is real. You increase wages, prices go up. It's not rocket science. At the same time, right now, greedflation is also a huge issue and it's backed up with receipts as there are taped phone calls with CEOs of major companies saying their new strategy (starting 2 years ago) to increase profits is to increase prices as much as possible as long as customers continue to pay. And since we need food, they pretty much have us all in a corner. @@briguy677
Partially , but its really money printing its been going for over 15 years
BEEN THERE WATCHED THAT HAPPEN IN THE LATE 60 THE BALANCE BETWEEN WAGES AND COST OF LIVING WAS CLOSE THEN MIN,WAGES STARTED GOING UP AND COST OF LIVING GOT COMPLETELY OUT OF CONTROL NOW WE HAVE TO LIVE ON THE STREET EVEN THOUGH WE HAVE A GOOD JOB
LOL CBC - Raising minimum wage will increase the cost of living *forehead palm*
Band-Aids for internal bleeding us usual with Canadian politics.
l make $45/hour in ontario, no kids, and i'll never be able to afford a home. Keep that in mind when you think $15 going to $16/hour is making a difference. The cost of living is so out of hand that people with good jobs are barely getting by.
Are you in the North?
the answer would be a big, NO! As wage increases; so will everything else (will raise) to compensate for that wage raise.
We have a federal government that loves to spend money but hates making money
Lol economic growth under Trudeau is higher than Harper. Trudeau had to deal with a multi-year pandemic that shut down the economy for multiple periods in multiple parts of the country.😂
@@Sam19509
Yet under Trudeau, inflation is much higher than it was when his step-father ran the show. Ditto for people starving and struggling.
15 is nothing. What a joke
Yet 5 years ago, this was what advocates asked for.
Get ready for the price of everything to go up again.
It will not bring down it will increase groceries rates. as Its created chaos in NZ and its still RBNZ blame inflation but this 2023 nothing will bring down,. the best thing can do is stay away from increase minimum wages.
No all that does is make the rest of us pay more for stuff!! Minimum wage jobs are not careers they were for students and people's 2nd household income for xtras ... it's not designed to support one individual
Minimum wage jobs, eh?
Those are 90% of the jobs out there.
@@Dam-a-fence go to school take trade ! Get a real job... not tim hortons walmart or circle k! Canada and the US are crying for trades people earn 30+dollars and hr
@@Jayjay-ji7ty
But everyone wants to be a white-collar worker or get paid like one.
@@shauncameron8390
Nope. Sorry, I'm not that guy, But I have to.
I don't.
I want enough land for a small garden and a one bedroom one bath bungalo.
I'd like to be killed at 70 if I make it there.
I don't want to think about the kind of food I can afford this week.
@@shauncameron8390 as a contractor start off pay with little skill 25$an hr got skill I'll pay up to 45$ hr ... we can't find anyone it's sad ... and I agree people are happy making 16$ an hr
It’s not fixing the problem!
nothing can save JT, the noose is tightening!
Boosting minimum wage has always - INCREASED the cost of rent and goods in a state/country/community.
The solution is to reduce income taxes.
How about abolish income tax as after all, it was supposed to be temporary?
I did not know this ... tell me more :o@@shauncameron8390
@@friendsandfamily100
Before WW2, income tax didn't exist.
Why is the Conservative party using an American company for adds on UA-cam Pierre? Should you not be using Canadian companies?
I've said for a looong time, minimum wage needs to be *directly tied* to inflation.
Burger is going to be 20 bucks soon.
Norway has McDonald's, and they pay their employees $22+ an hour. Their burgers are CHEAPER than what you pay in Canada.
The problem is the CEOs who want more money.
@@josephd.5524 BINGO!
This guy knows whats up.
It is at White Spot
@@josephd.5524
Norway is on the higher end in living costs.
What a joke
Increasing the minimum wage...especially as insignificantly as has been done, is going to do nothing to help matters. At this point, $15/hr. means nothing, given the massive inflation over the last five years. The minimum wage should be 85% of the national skilled trades average, and indexed to inflation so that it goes up proportionally with the cost of living. This is the way to keep the economy from collapsing and to begin to mitigate poverty. A healthy economy depends heavily on the working class being able to participate in it and circulate currency...not on the ruling class retaining currency and circulating minimal amounts. Wealthy people do not eat 200+ times as much food. They don't wear 200+ times as much clothing, or buy and drive 200+ times as many vehicles. They didn't get wealthy by doing that, and it's unlikely that they'll stay wealthy if they were to suddenly try to do it.
It's time to go back to taxing the ruling class heavily. Luxury taxes, and a 90+% wealth tax on earnings and assets that exceed $5M/yr. or $100M total. Give incentives for paying higher wages, and put money in the tax coffers to pay for programs that benefit hard working Canadians. The New Deal era policies that have been eroded in favor of deregulation need to be modernized and reinstated, and money needs to be removed from politics. Unless we have this paradigm shift in how we view economics, we are going to have another collapse of Great Depression magnitude within the next decade or two. It's time for Canadians to stop pledging loyalty to political parties and start looking at platforms and policies surrounding economics, and the voting history of those parties on policies that strengthen and protect the working class.
If they do, then they will see that both the Liberals and Conservatives have been horrible for the working class, and have given millions in tax money to already profitable and wealthy businesses and billionaires while eroding workers' rights. There is no reason for anyone making over $25/hr. to be living paycheck to paycheck, but here we are because of the absurd policies by both of these parties in order to appease their wealthy donors and earn campaign donations and cushy post-political work gigs. Quit fighting with your neighbors about Trudeau and Poilievre, and start recognizing that they're both working against all of us. It's time to put differences in opinion and perceived morality aside to focus on the real problems that we all face. We need to find common ground and work together against the entities that have us at each others' throats.
Stop fighting your neighbors and start fighting beside them against wealth inequality!
Lol yea someone standing there at petro should make close to those that work in construction? Wake up. If anything we need a bigger pay gap between easy jobs and hard ones, not smaller.
Its already is a great depression
This will just cause the prices to go even higher
Gotta keep those record profits flowing. Joe Average simply has to be content working their asses off just to narrowly avoid homelessness.
@@CSGraves True we will own nothing
I'm sure the 65 cent raise in minimum wage will go far. 🙄 If I were working 40 hours a week, it amounts to an extra $26 a week. Gee, thanks.
In Ontario, an actual living wage was just calculated to $24/$25 per hour. So am I grateful for the extra 65 cents? Hardly.
Not to mention that every bloody time minimum wage goes up, corporations crank up prices of goods, because the higher-ups refuse to take the hit in their billions. It's a freaking farce.
This country blows.
I cant work.. i eas diagnosed with severe lupus... and i got denied for disability... wtf. I cant afford my rent and utilities and food is on the last place on my list. I dont have food in my home. Please help with rent increases please. My rent has gone from 1200 a mo th to 2000 a month now... im going to living in mt vehicle soon.
No. Upping minimum wage will never resolve the problem. We raise the minimum wage and the economy adjusts accordingly. Always has and always will.
Cutting CBc would reduce the budget. TRUDEAU's media shrills.
Well, here we go!. Wages go up. Goods go up in price... dog chasing its tail
.
Inflation isn't "offset" economy wide until enough purchasing power has been destroyed by it to offset the excess consumption that happened in the past. And if you try to escape that reality, you'll fail. And simply raising minimum wage won't escape it. The only thing that escapes it, without losing purchasing power, is increased productivity.
No. It just means the feds can take more off your paycheck.
Alongside the provinces.
The government should lower interest rates, quit spending tax dollars like drunken sailors, stop printing money and ditch the carbon tax. There, fixed it for you - no charge.
Minimum wages are more of government’s attempt to have someone else do their work for them. Through minimum wages, governments try to shed their responsibility for providing a minimum living standard to their citizens - their voters. To achieve this, government should provide everyone, 18 years and older, with a minimum continuous wage for the rest of their lives. Then if a business doesn’t want to pay a decent wage, the workers can choose not to work for them - and most importantly, not work for anyone.
I've thought that some form of UBI would allow us to scrap programs like EI, and welfare and maybe even make at-will employment palatable.
And then who would produce the food, clothes and services we all need?
@@katya4762 funny eh. We need it but aren't willing to pay people who make em enough money.
@@katya4762 Food grown domestically is produced by farmers (business owners) who mostly hire migrant workers. Clothing isn't made in Canada. Many services we need (transit operators, garbage collectors) are often unionized and pay well.
UBI would make many jobs obsolete, allowing us to shorten the workweek and have more job-sharing. We know from COVID and the CERB experiment that most people don't enjoy doing nothing for an extended period of time. It's entirely possible that with extra time and money, some people will spend more time gardening, making clothes and starting businesses. But then, we won't know unless we try.
@@chineseRATFACE While it's true that a surge in demand DID contribute to inflation, it's not the only reason. Other factors include consumers (temporarily) shifting their spending habits from services to goods, a spike in commodity prices when economies reopened, impaired supply chains, labour shortages as the economy reopened and Russia's invasion of Ukraine.