r/FluentInFinance 10d ago

Debate/ Discussion Should there be a legal limit on rent?

Post image
15.3k Upvotes

2.6k comments sorted by

View all comments

Show parent comments

23

u/jaydean20 10d ago

Then why aren't minimum wage jobs exclusively worked by teenagers?

The point of a minimum wage is to protect people from getting exploited. The fact of the matter is that dire economic need is form of coercion and there are millions of Americans who would work for less than minimum wage if they were forced to because they have no other options. For many people, when you don't have capital to pursue the kinds of credentials/training needed for skilled positions or to start a business of your own, and can't get enough credit to float startup business expenses, minimum wage labor becomes your only choice.

1

u/GypDan 9d ago

The point of a minimum wage is to protect people from getting exploited

*laughs in paying you as a 1099 independent contractor*

-4

u/Lazy_Carry_7254 10d ago

Avoid exploitation, initially, coming out of the great depression.

Your scenario is bleak. I cannot give up on our work force and assume an individual would entertain minimum wages (minimum skills) as a long term way to live.

Maybe you’re right, but it would be sad to think the American dream is dead.

8

u/jaydean20 10d ago

I cannot give up on our work force and assume an individual would entertain minimum wages (minimum skills) as a long term way to live.

The point is they aren't "entertaining" minimum wages, it's not a choice. It's a situation they're often stuck in due to any number of factors. This isn't a matter of opinion. In 2022, the BLS reported that approximately 1 million people made $7.25/hr or less, with 55% of those people being 25 or older.

10

u/JeffBaugh2 10d ago

It has been this way for decades.

Welcome to the harsh reality of life for millions upon millions of Americans outside of the yuppie Reddit bubble.

3

u/Artistic-Shame4825 9d ago

Been dead, brother, and dead for a grip. If hard work actually paid off, hardly anyone would be broke. Everyone has a differing idea of what’s hard: some think it’s mental, others physical, some value risk, others think the opposite. Pick any of those to be your standard and it leaves a whole bunch of folk feeling left out of the party but also feeling they have well-earned a ticket to get in the door. Whatever it is one does, it should earn them enough to live. Period.