How come the 99%s wages aren't going up with inflation?
From the latest BLS report on the topic: “Real average hourly earnings decreased 1.9 percent, seasonally adjusted, from November 2021 to November 2022.”*1
Average hourly earnings went from $31.23 in Nov 2021 to $32.82 in Nov 2022.*2 That’s where you see average current income rising with inflation (+5.1% YoY)
... and all that boll@cks.
Advice: either be in the 1%, or change jobs regularly enough to consistently boost salary ahead of inflation.
This is a pretty fundamental mechanic of markets. Stuff don't spread around if there aren't any transactions.
Folks, unions and high taxation with an emphasis on public works and strengthening the public sector literally has proof that it works. High taxation with an emphasis on military won’t help, so we need to address that first.
The dream of trickle down economics has been proven false time and time again. In the US, in Russia, in UK. It’s not a strategy that has long term success. And it’s driving the world to suffocate itself, so in a very long term scale it’s actually disastrous.
And what part of it applies to trickle down economics anyway, that is about wealth redistribution, instead of immediate diffusion of a specific good?