Republican pundit scare tactic: Wage increases are inflationary. Hey, what about profit increases?

[egbertowillies]

While discussing workers asserting their worth as they demand wage increases, a GOP pundit attempted the inflation scare tactic.

https://egbertowillies.com/2021/10/21/republican-pundit-scare-tactic-wage-increases-are-inflationary-hey-what-about-profit-increases/

[AllaN01Bear]

1. what about outragious ceo salaries . and when they get fired , what a lovely

package they get . we dont get nothin.

[TheRealNorth]

2. Honestly surprised it took them this long to go there.

Although I suppose, "People are making too much money" is a tougher selling point.

[malthaussen]

3. Massive profits are not inflationary, because the money is not put into circulation...

... whereas if the slob in the street makes a few more bucks, he immediately spends it on something and the money begins circulating.

There is actually something to that sarcastic rationale, but it is not an argument against wage increases. The Fed is coming around to the idea that "a little inflation is a good thing," and as more Boomers who remember the inflation of the '70s die out (I'm not dead yet, bugger), then the "inflation" boogieman will have less of a fright factor.

-- Mal

[SWBTATTReg]

4. So costs which still have kept spiraling upwards constantly since the 1980s (and min. wages

were frozen at a 1980s rate), are acceptable (along w/ the higher priced goods resulting as a consequence of these higher costs) but not higher wages (or better said, a decent living wage)?

This guy is not an economist, he's a republican hack, plain and simple, and is trying to protect who he really represents, the 1%ers who don't want to pay higher or more decent wages to their workers. With the cost of literally everything higher since the last increase in min. wages (again, the 1980s), how does this idiot expect workers w/ wages still stuck at 1980s rate, able to buy anything? If anything, workers are getting into serious debt in just trying to keep their heads above water in buying their cars (to transport themselves to work and back) and shelter (a home to live in).