Well, people will only go into higher tax brackets, if they have higher taxable income.
Based on the 0bama years, I don’t expect there to be any discernible wage increases for years. The prices will all rise, and the entitlements will all rise. But for those in the middle class, paying taxes, they will just see a decreasing standard of living for the foreseeable future. JMHO
There will be a lag in increasing wages, that's for sure. But labor unrest will grow, the power of unions will grow, there will be strikes for higher wages. White collar workers will get pay hikes.
Indeed, the prices always rise much faster than your wages, so you get really screwed. But the wages and salaries WILL go up. But prices always lead.
I've lived through all of this before. It isn't pretty. My father in law bought a bunch of 10-year Treasuries near the peak in 1980. He enjoyed that income for quite a while in retirement.
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