this post was submitted on 10 May 2024
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You mean those guys who raise the price afterwards?
There is no correlation between wage increases and inflation. Firms will charge consumers the highest number that they can to reach supply:demand equilibrium already, if they could charge more then they would regardless of how much poor people get paid.
The actual effect of wage increase is a negative correlation with wealth concentration and a higher money velocity, and in some cases a lower number of jobs, but the good outweighs the bad.
Do you have a source for these findings? Because the last 20 years I've lived through minimum wage increases, each time it led to the increase in the cost of living.
Ah yes, all of those federal minimum wage increases in the last 20 years. The many great examples such as the raise to $7.25 in 2009 and also the uh... erm... No, that's it, actually.
Then the average Price of Goods fell for the next 3 consecutive years. Also, the inflation rate from 2005-2009 was 13.24% while the rate from 2008-2012 was 8.77% according to that same consumer price index data, you can use a calculator for it HERE.
So either Wage Increases decrease inflation and cause prices of goods to fall, or it has no measurable effect in the face of many factors which do actually affect those things.
I'm simply asking for a source and your reaction is to be a dick? Smooth. Also, you're only referring to the federal wage increase. States have had their own minimum wage increases throughout the years and each time, the cost of goods would rise, causing the boost in minimum wage to fall flat eventually - and that's what the original guy was referring to.
I guess your feelings are more important than logic, reason, and the sources that you specifically asked for. Sorry to upset your volatile emotions, enjoy your willful ignorance by your lonesome.
I never mentioned anything about my feelings, I asked for a source, and you instead acted like a child about it. The internet doesn't need more assholes around, so if you're going to act this way - just don't bother responding. It's not hard to just move on. Why are you so against stricter policies being placed on the wealthy to ensure they can't just hike up prices whenever a wage increase is introduced, anyways? You know what, don't answer that - you're a douche. Enjoy your miserable life - it must be a sad life if you have to act like this towards someone looking for answers.
Those guys who raise the price regardless of what happens.
Yeah, those guys - which is why there should be a limit on what those guys can and cannot do. Which is what's being discussed.
Increasing the minimum wage is being discussed.
Pretending that inflation is caused by wage increases as an excuse to never raise the minimum wage is what Republicans do.
No, I responded to someone's comment within this post, and that's what is being discussed. And they, and myself, are for increased minimum wage, he said it plainly and I said I agreed with him. I also agreed that we should have restrictions placed to prevent the rich from increasing prices on everything else just because the wealthy know that everyone got a base raise. I never said inflation is caused by a wage increase, you came to that conclusion on your own. Republicans also dislike restrictions on the wealthy, which it sounds like you're not a fan of it either.....are you a Republican?
Which is why you're setting prerequisites for it.
I'm not a fan of coming up with prerequisites to stand in the way of raising wages. And I'm certainly no fan of the Republican argument that we can't raise wages because prices will rise, particularly not when prices already rise when wages stay stagnant like you and every other Republican wants.
Again, I didn't say we can't raise wages. I said I was for it. What prerequisite was mentioned that would stand in the way of increasing the minimum wage?