Just do the math with the chart I posted: that would be an immediate 25%+ increase in cost.
Given that the real inflation rate has been well above 7% for the past year-plus, labor is losing out by the quarter right now, however, so they need a substantial boost just to break even. And of course such a substantial boost increases the inflation that their wages would be chasing after to rise even more. Such is the dog-chasing-tail cycle of inflation.
I am not going to blame the nations economic woes on the working class. I am a big tent Republican when it comes to that. I don’t hate people that work for a living unlike most GOPers that only love small business and farmers.
so why do we harp on the working stiff just trying to keep up with property taxes, income taxes, insurance, mortgage and rising costs for food and fuel and household items....
lets face it....we don't have true capitalism...we have crony capitalism with the govt actively working to protect the rich and their minions....