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My 2 cents. The main issue to be concerned about, that’s repeatedly and deliberately ignored IMO, is the workers’ actual buying power. Wage disparity doesn’t r
by logicalmonster 5y ago
My 2 cents.
The main issue to be concerned about, that’s repeatedly and deliberately ignored IMO, is the workers’ actual buying power. Wage disparity doesn’t really matter: Kevin Durant or Elon Musk will always make probably 10,000 times in a year than I do, yet I live great. Our wage disparity isn’t a concern to me: they currently provide more value to the world than I do, and their paychecks reflect that.
The real issue is buying power. It doesn’t matter if the minimum wage is increased to 15 or 25 or even 100 an hour if that buys increasingly less. There’s little way to save and hide your money if inflation continuously robs you and harms the poor more than the rich, who have the ability to hedge against inflation.
Inflation is a stealth tax on the poor. People who live on the margins are screwed by their purchasing power being drained. We live in a time of very high inflation and the same old solutions demanded of “better pay” or more taxes on the rich are not a systemic solve.
The real transfer of wealth, and the real class-disparity has always been things related to inflation. Go back and look at old prices of houses, milk, candy, burgers, etc. Yes, people made less salary of course, but could easily afford a good life. Wages never keep pace with inflation.
A real systemic solve is addressing the things surrounding money that nobody talks about or dismisses IMO.
PS: that wasn’t my 2 cents. That was my 9 cents. In the time it took you to read this inflation increased the price. Maybe if you think about how that works in relation to purchasing power you’ll start to see the bigger issue.
- sumedh 5y ago> they currently provide more value to the world than I do but they still need tax payer money to fund their business, atleast for Elon, no idea who Kevin is.