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Wouldn't raising minimal wage just raise prices higher without dealing with the underlying problems?
Prices are already getting higher, and we don't have other solutions.
In Australia, minimum wage is quite high and so are the costs of many goods, but things like Amazon and flight tickets are much cheaper comparatively
That doesn't answer my question. Prices might be high, but when you just give people more money, they will grow higher. Why wouldn't they?
That's just greed. They're doing that already. Prices right now are crazy high, BUT guess what else is? PROFITS. Record profits everywhere. That shit should be illegal.
Are the record profits still record after being adjusted for inflation?
Money is worth less now than it was this time last year.
Let's say a profit of $1000 last year is equivalent to a profit of $1200 this year.
Have you made $200 more this year? Well, technically yes but it doesn't quite have the same purchasing power as it would have if you made it last year instead
Yes, record profits after inflation. Don't simp for the corporations, they don't give a fuck about you. They'd rather see you die than give you a penny.
Minimum wage does not increase inflation.
Minimum wage reacts to inflation.
You think our wages keep up with inflation?