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Indeed, inflation is a way of transferring wealth away from the wealthy, and helping debtors (people with student loans, auto loans, mortgages, credit card debt
by jacobolus 9y ago
Indeed, inflation is a way of transferring wealth away from the wealthy, and helping debtors (people with student loans, auto loans, mortgages, credit card debt, etc.) and the poor (people without money saved). It also correlates with reduced unemployment.
A legal change to make minimum wage track inflation and dramatically increase (double?) the currently unlivable federal minimum wage would also be helpful though, as would restoring workers' rights (especially collective bargaining rights) which have been gradually but systematically eroded for the past 40 years.