Spoiler warning: its over 7 times the current rate.
Youll find our full interview with him below.
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Owning property is a dream for young people.
Billionaires should not financially exist.
You pay the price for their yachts.
Class solidarity is the only way out.
Its not left versus right.
Its up versus down.
The $52/hour came from what you oughta support a family on one income.
Raising the minimum wage WOULD affect people.
Companies like Walmart profit in the billions every quarter, and those profits belong to the workers.
Walmart can EASILY provide that $52/hour wage AND still have money left over for profits.
The cruelty is the point.
He agrees that raising the minimum wage would affect small businesses at the start.
We asked Smeltzer for his thoughts as to why owning property is so important to so many people.
My parents first home in 1991 was $28,000, he opened up to us.
My dad ended up finishing the basement very nicely.
I helped a lot when I was little and learned from the experience.
He owns 4 houses on my block.
From Smeltzers perspective, shelter, food, and medicine must be considered human rights.
The billionaire class does NOT have a right to financially exist.
If the rising tide is supposed to lift all boats, what happens to the people without a boat?
Because theres a joke in trickle-down economics, but 99% of you arent gonna get it.
There have beenno furtherfederal minimum wage increases in the US since 2009!
That means that the rate of pay has stagnated, and many employees have lost purchasing power.
In short, each dollar buys them less.
That being said, many states in the US have their very own minimum wage laws.
When these state-mandated wages are higher than the federal minimum, the employee gets the higher of the two.
Essentially, this means where you live and work is going to have a huge impact on yourearning power.
For instance, if you live in Washington, your minimum wage will be $16.28 per hour.
If you live in Washington, D.C., youll be getting $17 per hour.
Its likely that home prices will remain high or even rise further.
This will take many years to work itself out.
There isnt a magic fix.
It doesnt make sense for many of them to sell and buy new property elsewhere.
Why would I sell unless I have to?
Prices have gone up and the mortgage rate is a lot higher.
So, Im content to stay where I am.
A recentGallup pollshowed the current pessimism in the American real estate market.
At the same time, 68% of respondents expected home prices to increase in their local area.
Check out the results:
