Loading ...No, never believe that, wages don’t cause inflation. Creating money out of thin air and lending it out with low rates causes inflation. Wages try to keep up with inflation. The gov’t under reports the inflation rate. Like 2% is common. So if you are non union the boss gives you 2% raise. Social security and min wage hikes were too low for 50 years. The lack of inflation in wages gives gave us more working poor people that are a burden on taxpayers.
Tax absorbers are the best off. They pay taxes to themselves like teachers for example. And cops. We have $200k per annum cops around me. Property taxes are so high, the State Gov’t announced they are giving long island schools hundreds of millions of dollars. Thats welfare to property owners. Or taxes would go even higher. Low profits because foreign competition, provide lower wages which in turn provide below needed tax receipts. Hense $32 trillion national debt.
Nothing matters anymore anyway.