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[–] RectalLeakage 5 points 24 points (+29|-5) ago 

Minimum wage chases cost of living, cost of living chases inflation, which is caused by minimum wage increases. The cycle continues.

[–] [deleted] 0 points 23 points (+23|-0) ago 



[–] theoldguy 0 points 8 points (+8|-0) ago 


[–] SirKeyboardCommando 0 points 3 points (+3|-0) ago  (edited ago)

I don't know much about economy stuff, doesn't deflation mean your money is worth more today than it was yesterday? Doesn't that make it hard to get people to spend it? I've always been under the impression that deflation is bad and ideally you want a consistent very very small amount of inflation.


[–] Hand-Banana 0 points 1 points (+1|-0) ago 

Right.. and all of this QE had nothing to do with inflation but some min wage increase will.


[–] Ridonkulousley 0 points 1 points (+1|-0) ago 

"chases" makes this seem like a quick process, it is not. This process of minimum wage increase leading to a cost of living increase is a slow process that will take years, there will be incremental increases (some within the short period after minimum wage increases) but nothing 1:1 in the short term.


[–] caveman1337 0 points 0 points (+0|-0) ago 

Inflation is caused by more money being printed. What increased minimum wage does is give a larger portion of profits to the people actually working instead of going into shareholders' pockets and becoming stagnant in their massive bank accounts. More circulation of our current money reduces the need to print more bills, thus slowing down inflation.