You could have a point if it cost $10 million to hire a senior competent software engineer. It does not. You could have a point if bread cost $75 to produce. I

You could have a point if it cost $10 million to hire a senior competent software engineer. It does not. You could have a point if bread cost $75 to produce. It does not. Many of the companies complaining about a shortage of people are posting record profits. Workers are receiving the smallest share of the pie in many decades. In many cases this really is just stingy employers complaining because they want to keep most of the profit for themselves. In other cases businesses can't raise prices because their customers don't have any money (because wages are so low and the 1% captures so much economic surplus, stashing it away in investment accounts, causing investors to dash around shoveling tons of cash at anything that looks like yield). In this case hiring workers at higher wages wouldn't be sustainable without raising prices. The "solution" in this scenario is not to suppress worker's wages even further; that only makes the problem worse. The solution is much higher taxes on the ultra-rich to filter the money out of investments and back into the economy where 10: it can be spent by workers, raising profits, leading to expansion, higher pay, more spending, more profits, goto 10. If we were in a capital-constrained environment then it would make sense to cut taxes to make more capital available for investment. We aren't. We haven't been in decades. Taxes on income & capital gains >10m should be much higher.