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SW MN | When's the last time minimum wage changed? Answer is 2009. So I would argue the premise of minimum wage increasing is the cause for current inflation.
Now is there wage inflation? Absolutely, and COVID started to drive that because we made minimum wage workers "frontline, essential workers" in many places. How essential can you be for $7.25/Hr? They demanded to be paid more.
I would venture we take an actual look at the profits of our business that are public. Most of them are reporting record profits, quarter after quarter. Well if inflation is truly real, their COGS would rise accordingly. Their COGS increases 10%, they pass that along. Wages go up, pass it on, etc. Well how then do these companies keep printing massive profits with larger margins? 1+1=2, but we are seeing 1+1=3, and blaming everyone but the real culprit.
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What if the fed doesn't get inflation under control
