Pocketbooks to be squeezed further

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Disgustedman

Senior Member
On July 1st minimum wage increases took effect in Alaska ($13.00/hour), Oregon ($15.05/hour in most regions), and Washington, D.C. ($17.95/hour)…additionally, a dozen cities and counties also raised their minimum wages, including several in California, Chicago, and Montgomery County, Maryland.

Minimum Wage Changes Effective July 1, 2025
 

to be honest , as long as our investments that generate our cash flow keep up , which they have done very well over the decade we are now retired and drawing down , the inflation we have been seeing hasn't been an issue at all .

its those who count on bank interest alone that can find the price increases a struggle.

our balance we live off of is higher today despite drawing 6 figures a year out for a decade , than it was the day we retired .

now we have ten years of life left in comparison and a higher balance .

so even a conservative portfolio of 35-40% equities has stayed well ahead of inflation and while no one likes spending more , the non investors are the ones that find these increases difficult unless they draw so little out to live on .
the
but i didn’t work and save a lifetime so my money can work for me later on and then get my money a minimum wage job by staying in cash instruments where they just about experience a loss over time after inflation and taxes.

rising prices isn’t a big deal if your balance and draw are growing more.

the real danger and stress is in not investing and thinking you are safe in cash instruments .

that is the complete opposite of what the 125 rolling 30 year retirement periods we have had to date teaches us
 
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Sadly, there isn’t much that the average senior citizen can do to change the impact of inflation on their lives.

Fiddling with the minimum wage does nothing to lift anyone out of poverty, it only provides temporary relief for entry level workers and drags higher paid workers down as prices rise to absorb the increase.

IMO the government should focus on regulating working conditions and let the market determine the cost/value of labor.
 
yep , complaining about the dealer never works .

learning to play the hand you are dealt is the only option.

but most people will put more effort and time in to researching a car or refrigerator or even a vacation , then they do the most important financial aspects of their lives .

then it’s everyone else’s fault they fall behind or struggle.

i call a spade a spade and sugar coat nothing.

its easier to do nothing than something about one’s financial situation thru life and most take the path of least resistance.

so instead of finding a way , they simply find an excuse.

they simply go on with just bank accounts and then complain how they can’t keep up and it’s everyone else’s fault
 
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mathjak107 said:
yep , complaining about the dealer never works .

learning to play the hand you are dealt is the only option.

but most people will put more effort and time in to researching a car or refrigerator or even a vacation , then they do the most important financial aspects of their lives .

then it’s everyone else’s fault they fall behind or struggle.

i call a spade a spade and sugar coat nothing.

its easier to do nothing than something about one’s financial situation thru life and most take the path of least resistance.

so instead of finding a way , they simply find an excuse.

they simply go on with just bank accounts and then complain how they can’t keep up and it’s everyone else’s fault
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Sadly, what I bolded in your reply is so true MJ. I also agree with your reply #2.
 
It’s striking that a minimum wage even needs to be legislated—it speaks volumes about how we treat one another in the workplace. Imagine the mindset behind it: an employer saying, "I’d pay you less if the law didn’t stop me." That alone exposes the imbalance. In an era of growing wealth disparity, unions may be the last meaningful line of defense for workers. Because when left to their own devices, corporations aren’t driven by benevolence—they’re driven by profit.
 
Markets value jobs not employers

That which anyone can do have little value in the market place

Many jobs have so little value that min wage keeps markets from pushing Wages even lower

Jobs like coffee servers , dish washers’etc allhave little value as anyone can fill them

I
 
mathjak107 said:
Markets value jobs not employers

That which anyone can do have little value in the market place

Many jobs have so little value that min wage keeps markets from pushing Wages even lower

Jobs like coffee servers , dish washers’etc allhave little value as anyone can fill them

I
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I suspect the value of those sorts of jobs will become more evident when there's no one to do them.
 
Rich said:
It’s striking that a minimum wage even needs to be legislated—it speaks volumes about how we treat one another in the workplace. Imagine the mindset behind it: an employer saying, "I’d pay you less if the law didn’t stop me." That alone exposes the imbalance. In an era of growing wealth disparity, unions may be the last meaningful line of defense for workers. Because when left to their own devices, corporations aren’t driven by benevolence—they’re driven by profit.
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I understand what you are saying, I see it a bit differently. No surprise, right. 😉🤭😂

Why would you pay more for something than you need to?

As consumers we never look for the most expensive plumber or mechanic the most expensive groceries or gasoline, we look for the best value and all too often the cheapest without considering value.

I believe that the more knowledge and experience a person has the greater their value in the workplace.

I also believe that setting minimum wages, union scale, etc… tends to reward mediocrity and discourage people from realizing their full potential.

If anything, I think that I would support a government paid stipend to all adults, a sort of social welfare, and let the markets determine the value of labor and wages for those that are willing to work.
 
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here in new york city min wage is 16.50 but certain things like food delivery are 30 an hour .

new york city is the unskilled worker mecca .

we have so many unskilled job openings

people flock here because of all the things the city has in place for the unskidled worker .

we have a huge public transportation system that can get you almost anywhere with no car .

loads of ethnic neighborhoods where one can live with their own country men

we have all kinds of social programs for the low earners .

but at the end of the day it’s not employers that determine what wages are , it’s markets and laws .
 
Sadly from most all my working years the minimum pay system in a union workplace was often more then the effort shown by too Many.
Many just stay put ....never expand skill to move up or find another job they can do, that pays better. They complain and whine about IF only companies would just pay more for same effort 🤷‍♀️

The job I currently have is not that difficult a bit boring sometimes but simply put the younger person would NOT show up. This pays about $10 MORE then minimum wage in my area but they called out 2 out of 5 days EVERY week until let go. I saw the person on Linkedin talking about how hard it is to find a job.... 🤷‍♀️
 
Aunt Bea said:
I understand what you are saying, I see it a bit differently. No surprise, right. 😉🤭😂

Why would you pay more for something than you need to?

As consumers we never look for the most expensive plumber or mechanic the most expensive groceries or gasoline, we look for the best value and all too often the cheapest without considering value.

I believe that the more knowledge and experience a person has the greater their value in the workplace.

I also believe that setting minimum wages, union scale, etc… tends to reward mediocrity and discourage people from realizing their full potential.

If anything, I think that I would support a government paid stipend to all adults, a sort of social welfare, and let the markets determine the value of labor and wages for those that are willing to work.
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You're response surely gives a valid point of view. How do you feel about the fact that some of the nation’s largest retailers, like Walmart, pay wages so low that many of their workers qualify for public assistance just to make ends meet. That means taxpayers are essentially footing the bill for basic needs that these companies choose not to cover through fair wages, despite raking in billions in profit. Think about this, one of the wealthiest families in the world, the Waltons, relies on government support to sustain their workforce. This is just wrong.

According to a Government Accountability Office (GAO) report, other major employers with large numbers of workers receiving SNAP or Medicaid include:
• McDonald’s – Often ranks among the top five employers of SNAP recipients
• Amazon
• Kroger
• Dollar General
• FedEx
• Uber
The GAO found that about 70% of the 21 million federal aid beneficiaries were working full time, which underscores the gap between wages and the cost of living for many workers.
Meanwhile, Walmart's CEO, Doug McMillon, made $27.4 million in total compensation for the fiscal year ending January 31, 2025.
Salary: $1,511,539, Bonus: $4,356,000, Stock Awards: $20,375,675, Other Compensation: $381,895, Total Compensation: $26,625,109.
That equates to $12,800.53 per hour. This is just one example and we're talking about paying someone around $15.00 per hour. This CEO makes $15.00 in 4.2 seconds. I believe he's overpaid.
 
Rich said:
You're response surely gives a valid point of view. How do you feel about the fact that some of the nation’s largest retailers, like Walmart, pay wages so low that many of their workers qualify for public assistance just to make ends meet. That means taxpayers are essentially footing the bill for basic needs that these companies choose not to cover through fair wages, despite raking in billions in profit. Think about this, one of the wealthiest families in the world, the Waltons, relies on government support to sustain their workforce. This is just wrong.

According to a Government Accountability Office (GAO) report, other major employers with large numbers of workers receiving SNAP or Medicaid include:
• McDonald’s – Often ranks among the top five employers of SNAP recipients
• Amazon
• Kroger
• Dollar General
• FedEx
• Uber
The GAO found that about 70% of the 21 million federal aid beneficiaries were working full time, which underscores the gap between wages and the cost of living for many workers.
Meanwhile, Walmart's CEO, Doug McMillon, made $27.4 million in total compensation for the fiscal year ending January 31, 2025.
Salary: $1,511,539, Bonus: $4,356,000, Stock Awards: $20,375,675, Other Compensation: $381,895, Total Compensation: $26,625,109.
That equates to $12,800.53 per hour. This is just one example and we're talking about paying someone around $15.00 per hour. This CEO makes $15.00 in 4.2 seconds. I believe he's overpaid.
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local area markets dictate what these big chains s pay

they pay more than the local mom and pop stores locally plus benefits and the potential to move up the ladder .

these are far better deals than locals have in many areas where wages are lower

so if wages are low for the unskilled it isn’t on employers to pay them anymore than markets value those jobs .

know why ceos make insane money ? for the same reason .

the number of us out there can run a billion dollar company is less than brain surgeons.

in fact these ceos make brain surgeons look like. a dime a dozen.

they are so rare that the same ceos move from company to company as they are offered more and more.

want to make more money , do the things others can’t or won’t do for themselves .

when we had the house in the poconos. , our sceptic guy owned a multi million dollar company and had a grade school education .

he did just that
 
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If you can get into a situation where you have:

no car payment
no credit card debt
solar power
don't consume much gasoline
no mortgage or rent
grow some of your own food

then inflation will have a smaller effect on you.
 
Rich said:
You're response surely gives a valid point of view. How do you feel about the fact that some of the nation’s largest retailers, like Walmart, pay wages so low that many of their workers qualify for public assistance just to make ends meet. That means taxpayers are essentially footing the bill for basic needs that these companies choose not to cover through fair wages, despite raking in billions in profit. Think about this, one of the wealthiest families in the world, the Waltons, relies on government support to sustain their workforce. This is just wrong.

According to a Government Accountability Office (GAO) report, other major employers with large numbers of workers receiving SNAP or Medicaid include:
• McDonald’s – Often ranks among the top five employers of SNAP recipients
• Amazon
• Kroger
• Dollar General
• FedEx
• Uber
The GAO found that about 70% of the 21 million federal aid beneficiaries were working full time, which underscores the gap between wages and the cost of living for many workers.
Meanwhile, Walmart's CEO, Doug McMillon, made $27.4 million in total compensation for the fiscal year ending January 31, 2025.
Salary: $1,511,539, Bonus: $4,356,000, Stock Awards: $20,375,675, Other Compensation: $381,895, Total Compensation: $26,625,109.
That equates to $12,800.53 per hour. This is just one example and we're talking about paying someone around $15.00 per hour. This CEO makes $15.00 in 4.2 seconds. I believe he's overpaid.
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Why don’t all of the entry level employees of these corporations qualify for various government benefits?

Could it be that they all have different personal lives and family obligations, health concerns, debts, etc…

It’s not surprising to me that many people in entry level jobs need additional assistance and support but I don’t believe that it is the responsibility of the corporation or the people that patronize those businesses to pay more to subsidize a person in a difficult situation.

I admire people that are willing to take a job that they are capable of and are willing to hopefully work their way up the ladder through education and experience.

I also don’t mind paying taxes to provide some assistance to low income working people that are facing difficult challenges.

One thing that I do believe is missing is a basic education on how to manage our resources and our expectations, needs vs wants, etc…

Executive compensation, profits, etc… are important to me as an investor.

Don’t lose sight of the fact that all of these evil corporations, CEOs, and billionaires create a tremendous number of jobs while producing necessary goods and services at a price the average person can afford.

The most important thing that any of us can do is to work with the people that we love and help them make good choices that allow them the best possible start in life so they do not have to experience the soul crushing poverty that many entry level/low income employees face when starting out.
 
Aunt Bea said:
Why don’t all of the entry level employees of these corporations qualify for various government benefits?

Could it be that they all have different personal lives and family obligations, health concerns, debts, etc…

It’s not surprising to me that many people in entry level jobs need additional assistance and support but I don’t believe that it is the responsibility of the corporation or the people that patronize those businesses to pay more to subsidize a person in a difficult situation.

I admire people that are willing to take a job that they are capable of and are willing to hopefully work their way up the ladder through education and experience.

I also don’t mind paying taxes to provide some assistance to low income working people that are facing difficult challenges.

One thing that I do believe is missing is a basic education on how to manage our resources and our expectations, needs vs wants, etc…

Executive compensation, profits, etc… are important to me as an investor.

Don’t lose sight of the fact that all of these evil corporations, CEOs, and billionaires create a tremendous number of jobs while producing necessary goods and services at a price the average person can afford.

The most important thing that any of us can do is to work with the people that we love and help them make good choices that allow them the best possible start in life so they do not have to experience the soul crushing poverty that many entry level/low income employees face when starting out.
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Why don't corporations pay enough so we don't have to support these folks through our taxes? If they made a living wage we would be free to determine where we spend our money, not just supplying these huge corporations with a subsidy.

We all have different personal lives, etc. But a living wage would at least level the playing field.

It's surprising to me that so many entry level employees need help. Many of the more advanced countries have figured this out.
Yes, working your way up the chain is admirable, but it shouldn't be a prerequisite to be able to afford at least a minimum level of security like healthcare, dental care, car insurance, RENT, etc.

I don't mind paying taxes, it's the fee we have to pay so our government can provide basic services for us. That's probably all I can say about that without getting put in time out.

The basic education level in this country has deteriorated steadily over the years. That might be a good place to begin, a civics class that teaches things like credit card management, budgeting, etc. Again, I don't want to say too much for fear of getting political.

I don't believe executive compensation is directly linked to profit. I believe there's plenty of educated folks out there that are capable and would do a great job as CEO for a fraction of the packages many of these guys are receiving.

The "evil corporations (your term not mine) are no longer creating as many jobs as in the past. Moreover, we're rapidly approaching the point where the average person is truly struggling to afford things. Currently, the housing and rent market is out of control, too many people have been priced out of the market. The tiny home market is no longer a trend, it's a necessity.

Why should “soul-crushing poverty” even be a possibility?

There was a time—not so long ago—when the American dream felt attainable for the average family. From the 1950s through the late ’70s, many households thrived on a single income. A mother could stay home, children had safe neighborhoods to grow up in, and a family could afford a modest house, a reliable car, decent healthcare, and even take an annual vacation. What was once considered normal now feels like a luxury few can afford.

Just the other day, I stopped at an auto parts store to grab a tire repair kit. I greeted the clerk and asked how he was doing. He replied simply: “I’m tired, man. Tired.” I jokingly asked if he’d been out partying the night before. He shot me a weary smile and said, “No man, I work two jobs. I’m here during the day and stocking shelves at Home Depot overnight.” That moment hit me like a punch to the chest.

This is the reality for millions—working relentlessly, trading sleep for survival, all to barely scrape by.

On the upside, I'm pleased to hear that your investment are doing well. 👍
 

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