You're correct. But not absolutely. Minimum wage increases are just a symptom of the real problem. If minimum wages weren't increased (as the USD value drops), no one would work those jobs. Business owners would go out of business (
0r completely automate). Which would lead to less tax revenue.
Again you demonstrate that you have zero understanding of macro economics.
Market forces regulate wages. If the worker finds wages too low, then they won't take the jobs, causing business owners to raise wages.
Adam Smith described this force as "The Invisible Hand."
To say that businesses will go out of business rather than taking obvious measures to gain and retain a work force is absurd.
Employers compete for labor. The more skilled the labor, the more fierce the competition. In unskilled labor, the competition is low, as there are greater numbers and less skill involved.
Base labor cost is the #1 driver of inflation. In a free market inflation tends to be driven by material scarcity - but in Keynesian markets, such as ours - government mandated wages are the primary driver.
The $4 to $6 trillion that Trump added can't be repaid either. Democrat and Republican spending is why I do not support either. (or at least one reason out of many)
Tell me, should the government have bailed out those who lost jobs due to Covid?
Since the overwhelming majority of Trump's spending was Covid related? PPE, extended unemployment, stimulus - should those have been used to try and stave off a market crash?
I don't watch the MSM's. None of them. I might catch a clip that someone posts here. But never just sit and watch the national news. And very little of the local news.
Just since Reagan, ( 4 republican presidents and 3 democrat ones) NONE of them have done anything to increase the value of the USD, Not one. Including Trump. So why TF support them? It's the same damn game with all of them. Borrow more than they can pay back, devalue the USD even more. Creating more inflation. And forcing more American companies either into outsourcing or just going completely under. Only those who are still on the government tit (like US oil companies with their billions in government subsidies) flourish.
Increasing the value of the US dollar would be deflation. Do you think that is a good thing?
What would that do to property values? What of mortgages? What of retirees depending on the value of a 401K?
You clearly are a Keynesian with no faith in free markets. But the government manipulation and control of the market has deep and lasting impacts, often times devastating.
No, that's the opposite of free market. You're trying to label me liberal.
A free market is one where the government does NOT regulate or manipulate it.
You seem very confused by terms.
And it's not going to work, moron. Not even close. This is some sort of liberal debate tactic you're using. When you can't refute what I say, just get personal and start slinging insults. Seriously, that's the same BS my ex used to try and pull.
If you can't debate this on the merits, then why even bother. I'm a fiscal conservative. Not a liberal. If I bash the republicans, its because they're CINO's. CINO's to almost exactly the same thing as liberals.
When you broach the subject of economics, you wander into my wheelhouse.
You spout Keynesian ideas whilst claiming they are somehow free market. Have you ever taken an introduction to economics course? I taught (facilitated) a 201 level Macro-Economics course for University of Phoenix for years, prior to entering my doctoral program - which consumed too much time to let me work and teach.
You remind me of a lot of students who had no actual knowledge, but heavy opinions driven by popular media, Who didn't know Adam Smith from Georg Hegel but were still convinced that they knew best how to run an economy.
I am upfront that I'm a Murray Rothbard level Austrian. But I suspect you have no clue what that even means.