Comment on Wages never caught up with costs

Mulligrubs@lemmy.world ⁨1⁩ ⁨week⁩ ago

It’s not hard to expose.

There’s a reason that wages have stagnated. Our political parties are paid to keep it that way, and very well. Companies have discovered that you can “donate” to the parties in power, and in return just enough Democrats will oppose higher minimum wage, or just enough Republicans will vote for the “tax incentives” to build your new facility.

Both will abandon their own “principles” and work against their own constituents, and this is why the rest of the world can have universal healthcare and we can’t manage it; the rest of the world can pay much better wages for their baseline workers and we just can’t quite make it.

Look at the worker benefits for EU nations. Poland now pays almost as much as the USA (with much lower costs) and working benefits that most US workers can’t even dream of (universal healthcare, maternity leave, yearly paid vacation, and more).

The FED sees to it that inflation continues to outstrip wages, as that’s what the Fed is for. That’s why they exist.

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