Raising the minimum wage absolutely does help fix things. But that help is temporary, because inflation never goes back down…only up.
The price of bread in 1930 was a dime. Now it’s as much as $3 in most places. That’s just how inflation works. If wages don’t scale with that, then people will eventually starve.
But I agree with you on the source of the current problem. Companies have stopped scaling wages to match the current inflation rates. Tax relief used to be contingent on reinvesting profits back into the company…and one of the simplest ways of doing that was to increase salaries. That is no longer a clearly defined requirement. This has allowed companies to “reinvest” in all kinds of obscure, self-serving ways instead, leaving workers behind in the process.
Raising the minimum wage absolutely does help fix things. But that help is temporary, because inflation never goes back down…only up.
The price of bread in 1930 was a dime. Now it’s as much as $3 in most places. That’s just how inflation works. If wages don’t scale with that, then people will eventually starve.
But I agree with you on the source of the current problem. Companies have stopped scaling wages to match the current inflation rates. Tax relief used to be contingent on reinvesting profits back into the company…and one of the simplest ways of doing that was to increase salaries. That is no longer a clearly defined requirement. This has allowed companies to “reinvest” in all kinds of obscure, self-serving ways instead, leaving workers behind in the process.