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Wages
I am extremely in favor of increasing the minimum wage.
That said, the fight for increasing the minimum wage is really a red herring. If we keep having that fight, we will never stop having that fight and the poor will always be behind the curve.
I will say that there is some commentary included in the video which is not in the text version.
Before I explain that statement further, I have to make the observation that many people object to increasing the minimum wage. They have been sold on the idea that doing so would lead to inflation. Yet we’ve been experiencing inflation while wages have been frozen for many years. For many Americans, wages have not only stagnated but declined while prices keep rising, leaving them even further behind. The few who have seen wage gains have seen their gains eaten up by inflation that exceeds any gain.
Who are the ones pushing the idea that higher wages lead to inflation? That would be the ones who have to pay wages. Meanwhile those same people have been realizing record profits and income growth. Not only in absolute dollars but in percentage of revenue.
Yes, that would be the billionaires who own multiple yachts and take joy rides into space.
