New York City mayoral frontrunner Zohran Mamdani forcefully defended his call for a $30 minimum wage during the final debate of the race Wednesday night, warning that under the status quo, the expensive metropolis is at growing risk of becoming “a museum of where working-class people used to be able to live.”
The inability of many New Yorkers to make a livable wage in the city, Mamdani said, “is pushing them to live in Jersey City, to live in Pennsylvania, to live in Connecticut, because they can’t afford to live in New York City.”
Under Mamdani’s proposal, which would have to be approved by lawmakers, New York City’s wage floor would rise incrementally before reaching $30 an hour by 2030. The minimum wage would then be tied to either cost-of-living increases or worker productivity jumps.
I’m all for increasing minimum wage, but I get annoyed when people put specific dollar amounts into legislation. They should base it on like cost of living or some index of generated profit.
% of profits is the best way to deal with it.
Nah, profits can be manipulated. It’s percent of revenue. Like, the CEO could pay themselves the entire profit and say “whoops no profit.” I also think the highest paid person should not be able to make more than ~10x the lowest paid person. So if there’s a $30 Per hour wage, the highest paid person could not make more than $300 an hour, or ~$624,000/y