MonsiuerPatEBrownTIL Minimum wage has only increased by $7.00 in 85 years in the USA.
ares35inflation-adusted, the federal minimum wage peaked way tf back in february 1968 at $1.60 an hour (equal to $13.46 in '2022 dollars').
𝕾𝖕𝖎𝖈𝖞 𝕿𝖚𝖓𝖆Might as well use the latest numbers for this comparison. Yes, inflation is still absolutely sucking us all dry.
QuokkaI love how its just flipped the numbers around exactly.
This is if you actually believe CPI is a legitimate measure, despite the cost of all the big ticket expenses like housing, education, and healthcare all increasing 5x or more above inflation.
That’s why they’re conveniently not part of the inflation equation.
That’s true, though I can’t say for the US, in the UK, inflation is still ridiculously calculated. about it, because staples like pasta and rice weren’t included, but champagne was.
inflation is still absolutely sucking us all dry.
However, as a side note, inflation is absolutely essential to keep the economy healthy. Most developed countries around the world have a goal of 2 percent inflation. US inflation is currently 3.7 percent before seasonal adjustments.
Inflation is important because it punishes the hoarding of wealth and encourages spending. When investments grow greater than inflation but wages grow slower, it’s problematic because the investing class is rewarded for having money while the working class is punished.
Most lemmings have never taken econ 101, because they are in middle school
well no, the econ 101 guys are the ones calling for getting rid of inflation, you actually need to get a bit further down into the mud to get to “inflation is super important and one of few reasons for investment instead of dragon hordes”