Remember when people claimed raising everyone's wages would be good for the economy? (Corporate Profit, illegal)
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I remember because it was not that long ago. The Left was telling us that someone working at McDonalds needed to make a "living wage". They settled on $15 per hour as the new mini and that is why a meal at Mcdonalds is $10+ . My wife and I were out and about around lunch time a few weeks back and we had a hankering for some fries. I don't like McDonalds but it was right there so we pulled in, placed our order and $23 later we were both asking why did we just do that for this gross food?
During all the crazy times when the Dems were demanding the $15 per hour we asked a very Liberal Trump hating friend if he would pay his employees in his small shop that much and he said, no way I would go out of business, well last year he was paying more than that due to the market rate of decent help.
Pretty much all the raises that people got have been eaten up by inflation and then some.
I really believe that half of our elected in DC would fail at running a lemonade stand.
Cracker Barrel and other such places are sometimes cheaper now than fast food and the food is healthier.
So even when the market is causing burger flippers to make more, that is bad?
Supply chain, oil, and the Russian war have nothing to do with it?
Never did I say no other factors are involved.
I have many threads and posts highlighting the other factors.
This thread deals with what happens when wages are artificially raised too fast, something liberals have been pushing for decades and never listen to what happens in the other side of that change.
Yeah, no. Wages are not the driver of inflation. They respond to it, and often slowly. The pandemic, WFH, and a general ****-it attitude sped things along.
Owners like slaves to blame each other for their problems. You're doing their dirty work.
It would appear from your comment that you don't or have never run a business. Increasing wages is indeed inflationary. Do you believe that prices just stay the same when the wage part of the cost equation increases?
I have many threads and posts highlighting the other factors.
This thread deals with what happens when wages are artificially raised too fast, something liberals have been pushing for decades and never listen to what happens in the other side of that change.
This whole thread is full of blaming "burger flippers make too much." Fed min wage is still $7.25. No states are at are at 15 dollars. Two are 14+ dollars.
One thing I find odd is the silence by Dems on the Fed minimum wage while they have congress and president. Shows where their priorities actually are.
Economics is complicated, and you're simplifying it. Inflation would've happened regardless. Taken to its logical opposite, would wage cuts across the board (starting with yours, of course) reverse this inflation? Not exactly. It would have an effect, but not nearly as large as the other way around. Because there is inherent top-down predation set up all over the system.
So when you say "raising wages causes inflation" (implying it is the sole driver), you are saying to a battered housewife "you get hit because you make him angry". Which I suppose is technically true, but absolutely misguided and decontextualized.
Yes inflation would have happened after the forced shutdowns stifled production and yet the government printed trillions (American Rescue Plan) which added +2-4% to inflation. Europe is also seeing inflation but our reckless spending supercharged it
These idiots who rant and rave about the minimum wage don't understand simple economics. When businesses have to pay more for labor they don't eat the cost they pass it on to the consumer.
So your 3-dollar big mac now costs $5 and your meal $10 or $11 so you're essentially back to square one.
Yeah, no. Wages are not the driver of inflation. They respond to it, and often slowly. The pandemic, WFH, and a general ****-it attitude sped things along.
Owners like slaves to blame each other for their problems. You're doing their dirty work.
Yeah millions of workers and billions of dollars we are talking about here. Yeah, not a driver of inflation at all.
Yep. And remember how batty they went when we told them that?
But do you think they are going to admit they were wrong? Nope. They will double down. And when things go to double hell, they will triple down. Etc.
And remember how batty they went when we told them that THEY WERE WRONG?
Note to self: do some better proofreading.
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