The Prof G Pod with Scott Galloway No Mercy / No Malice: Doing the Minimum
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Sep 14, 2024 The discussion dives into the pressing issue of poverty and argues for raising the federal minimum wage. It highlights how this change can combat economic inequality and significantly improve lives. The dialogue critiques current political focuses that often prioritize corporate profits at the expense of workers. Listeners are urged to consider the broader implications of fair wages and their potential to create opportunities for future generations.
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Raise Minimum Wage
- Raise the federal minimum wage to reduce poverty and inequality.
- This is more effective than eliminating income tax on tips, which affects a small percentage of workers.
Stagnant Minimum Wage
- The federal minimum wage hasn't increased since 2009 and has not kept up with inflation or productivity gains.
- Politicians prioritize corporations, hindering minimum wage increases.
Impact on Young People
- Raising the minimum wage primarily impacts young people, who are underrepresented in Congress and less likely to vote.
- This contributes to various epidemics among young people, including poverty.