Maybe you missed the fact that the inflation is controlled by the Fed. When government is controlling the cost and continues to degrade the benefits...who is to gain?
Okay, that is a silly question - the government and the monitory policy. Those on benefits continue to go down the tubes... Business does benefit because they are not obligated to raise wages...do you see the problem?
“Maybe you missed the fact that the inflation is controlled by the Fed. When government is controlling the cost and continues to degrade the benefits...who is to gain?”
Minimum wage is a bad policy. It hurts people, especially poor and minorities. If the Fed causes inflation, it is at least inflating away one bad policy, so long as the minimum wage is not indexed to inflation. Who benefits? The folks who would be unemployed were the minimum wage to be indexed.
I don’t see why there is any reason to take a bad law and make sure it keeps hurting people as long as possible.
I didn’t miss your point. I just think its a pretty silly point. There are plenty of good arguments against the Fed and its powers that you don’t have to tie this very weak argument to that mast.