Loading ...So engineering your paycheck or your profit to lose value over time at an alleged rate of only 2% is their objective? For the greater good? But they don’t want us to get screwed by an 8% inflation rate.
And they hope we never see or get a Deflation rate. God forbid our paychecks, profits or uninvested cash in our pockets or under the mattress gains value and purchasing power.
Meanwhile, over time we all have been living with a 7% inflation rate for decades. Our wages and profits have been losing 7% of their purchasing power every year since 1975.
Take out the calculator? If your cost for a new car went from $2500 to $50,000 since 1975 whats the inflation rate? If a slice of pizza went from .15 cents to $3.00 whats the inflation rate? Its 20X times more money needed.
But. The minimum wage in 1975 of $2/hr FAILED to maintain X times 20 which should be $40/hour. So, if you are an employer, paying $15/hr, you are lucky. If you had to pay $40 you would not exist. So thank Uncle Sam.
@Uncle Sam. You idiot.
If you are Uncle Sam, you are getting cheated with $15/hr incomes because low wages are not enough to pay income taxes. In fact the low wages are COSTING you idiots money via growing number of the “working poor”. (note $30 trillion deficit)
And the businesses that hire these poor souls are DEFINATLY NOT reporting all their profits.