re: Govt Assistance and Minimum Wage

quote:

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Since it was last raised in 2009, to the current $7.25 per hour, the federal minimum has lost about 9.6% of its purchasing power to inflation.

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You probably glossed over it a few days ago, but this was the question I asked you about; How is purchasing power created?

See, the problem isn't wages, per se. The problem is the lack of purchasing power of those wages.

Not only does inflation tear at it, but the insane amount of compliance costs, that people like you constantly advocate for, help to erode that purchasing power even further.

Then, there's the problem of Regulatory Capture, another policy people like you support, which keeps competitors out of the market. That means prices are higher than they would otherwise be, while wages have downward pressure put on them.

One other thing is the massive amounts of market dislocations that happen because all of the government interventions into the markets. Again, this erodes purchasing power.

What you, and people like you REFUSE to let yourselves see is that the policies you support CRUSH the very people you claim to care the most about.