The POTUS (President Of The United States) tweeted today that the minimum wage should be raised to $10.10 in order to enhance the economy and help the McWorkers of America. While this feels like a warm and fuzzy thing on the surface the reality behind his magic numbers hides the real reason the wage isn’t cutting it for our fast food counter workers- Inflation is raging and a buck just doesn’t spend like it used to.
What is most entertaining is the assertion that raising the minimum wage will not only add 140K new jobs but increase the GDP of America by a whopping $32.6 Billion dollars. If such magic were possible, and it’s not, then why stop at 10.10? Why not a 10 fold increase to $101.00? Would that perhaps be because the cost of every good stocked by the boys and girls in blue smocks at your favorite store would monkey hammer the cost so high you might not see the falling prices you expect?
Nah. That’s just silly unicorn stuff.
But the real truth behind the desired raise is what is not being shared, and that is the inflation rate in America is killing our poor and working class as the largest transfer of wealth in the history of the world continues. But rather than explain the affect our wars and entitlement programs are having on these workers it’s best to just suggest the free market (and certainly not the POTUS or highly respected congress) is screwing them daily.
Mark my words, we are fixing the wrong thing. Inflation is not the cost of things going up, it is the value of your money going down. Currently we are in sub-basement 4.