I don't think you are trying to see the truth.
Wages were high in the 1950's and inflation very low!
Can you not connect those dots? The rich need to be taxed more, and the middle class less.
Can you not see we need income redistribution and raising the minimum wage does that!
Statistics thread: "Even after the war and recession, the 1950s saw strong GDP growth, low inflation and low unemployment. Despite an average unemployment rate of 4.8% over the 1953–1959 period, inflation remained muted. The average of just over 1.3% in that period is low even by modern standards.Sep 14, 2021"
And what you say just isn't true. You have this preconceived idea that is simply not true!
Can't you see it is the income inequality that is the problem.
Yes, a flatter wage distribution would be "nice?" for our society! So how do we do that?
It is not nice, it is imperative. Income inequality is a cancer on our society.
When the top 10% own 70% of GDP, you think giving a few pennies to the poor bottom 30% raises inflation?
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The Top 10 Percent Own 70 Percent of U.S. Wealth - Statista
statista.com › chart › wealth-distribution-pe...
Aug 31, 2021 — The top 1 percent held about half of that wealth – 32.1 percent, while the next 9 percent held approximately another half at 37.7 percent.
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| I think a much flatter wage distribution would be very nice in our society. But increasing wages definitely contributes to inflation. Just like handing out government subsidies of any sort does to. So Biden cancelling debt has that effect as well, ironically at the same time the FED is trying to cool down inflation by increasing consumer credit costs.Do |
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