Reply to Huge wins for Virginians - VA Dems & Spanberger addresses issues in healthcare, housing, energy

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[quote=Anonymous][quote=Anonymous]Anytime th govt gives out money or set minimal wages it doesn't last and eventually those people will cause that to be the poverty level and cause inflation. There is no way to force the poors up and stop the prices from going up to accommodate [/quote]

False.

https://www.epi.org/blog/inflation-minimum-wages-and-profits-protecting-low-wage-workers-from-inflation-means-raising-the-minimum-wage/

[b]Minimum wage increases have trivial effects on inflation  [/b]
[i]Some claim to worry that raising the minimum wage might exacerbate our current inflation problem. This is not a serious concern. Consider the Raise the Wage Act, which would raise the minimum wage to $15 in five steps by 2027 and would be indexed to growth in median wages thereafter. If every penny of this higher minimum wage fed directly into higher prices—that is, none of it was financed by higher productivity or lower profits—the move to $15 would create a one-time step-increase in the overall price level of less than 0.5%. Spread over five years, this implies an average boost to inflation of less than 0.1% per year, after which it would fade to near-zero. This is completely trivial. Over the past two years, inflation has run at a rate about 100 times faster than this. 
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