Sooo many internet economists and defenders of the ultra rich have said in the past…. “If we keep pushing for higher or “unrealistic” minimum wages. Companies will just raise prices to rake in the same percentages of profit.”
The irony is wages have stopped rising as fast. Many progressive states have a $15 minimum wage. But prices have skyrocketed almost 60% since that 15$ minimum wage was popularized and campaigned on around 2012-2015.
Since then there’s been no real push for a wage increase yet prices are still going up due to factors that we didn’t want or agree to yet we’re feeling the brunt of it all.
Economists, please help us make sense as to what the commoner should do? If not pushing for higher wages, do we ask the government to implement price limits in a capitalist society?
Like where do we go from here seriously !?
“Don’t push for higher wages” they said… “they’ll just raise prices”
byu/believeit0itsbutter ineconomy
Posted by believeit0itsbutter
5 Comments
USAFacts (July 2024 – July 2025):
• Nominal average weekly wages grew by 4.2% from July 2024 to July 2025.
• Adjusted for inflation (2.7% over the same period), real wage growth was 1.5%.
Less than 2% of Americans are paid minimum wage.
Our economy operates in a parasitic nature, a parasite that doesn’t give 1 flying fuck about it’s host. Never ending growth and consistent profit are the goal. With collusion, very little competition in most sectors, and next to zero enforcement of already weak financial punishment companies will push to the absolute limits they can. Generating stockholder return trumps everything else, employees are tertiary to that goal. The biggest scam has been tying everyone’s retirement to the stock market, so now there is no way out and no feasible way to change the system as it would collapse the retirement savings of everyone, not just hit the unrealized wealth of the 1.0-0.1%. If not for that the obvious answer is tying compensation of all employees to executive pay and company performance and a tax structure that encourages reinvestment in employee compensation over everything else.
Edit: We also need to drastically change and regulate marketing. It needs to be more accurate, truthful, and representative of the product as delivered in real life.
They said the same for taxing the rich. Now they’re treating like raising the taxes on most everything (tariffs) is suddenly a great thing. Must be because of how regressive the tax is. It avoids taxing the rich.
Higher costs for businesses result in higher prices for consumer or go out of business.
It would be a lot easier if the government didnt debase the currency causing inflation then lie and trick reddit tier retards that prices are not going up because inflation but “greed” lol.