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A Very Good Sign: Kamala Harris Is Going Right at Corporate Greed
(newrepublic.com)
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this post was submitted on 17 Aug 2024
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politics
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You're misunderstanding the chart -- that's all inflation-adjusted wages. Cumulative inflation (which, again, was follow-on impacts from Covid, mostly unavoidable although I'm sure Trump didn't help) was around 20% in total. So low-wage income went up 33%, high-wage income went up 24%, and so on, and then about 20 percentage points worth of that got eaten back up by inflation.
Basically the working class exceeded inflation by quite a lot, and everyone at least kept pace with it (2 percentage points above inflation means basically no detectable change).
What groceries are you paying 200% more for? Even for the very highest items like eggs, it's been like 40% increase cumulatively.
The whole problem currently is that it was way the fuck more than 2.5%, and prices from the spike in 2021-2022 haven't gone back down or anything. Here's the chart. The wages chart I showed was inflation-adjusted.
This is only true of you believe inflation figures are an accurate reflection of the cost of living. Most people saw an increase in their rent and groceries of 50-100% since 2019.
Are the people who earned $7 in 2019 making a $10-14 minimum today? Are the people who were on 30k now making 45-60k? If you genuinely believe that, you'll believe anything...
What is your source for this?
(FTFY, hope that helps)
(Also, what happened to the other person who was saying 200%? Is this like a tag team where everyone takes their turn to send one and exactly one message to me, so that the abandonment of the 200% figure can be replaced with other equally incorrect figures in a way that I then have to disprove afresh as if the whole first conversation hadn’t happened?)
I've reported this as misinformation after the discussion in !news@lemmy.world
People who earned $7 in 2019 are currently, on average, making $9.24 - an increase that comfortably exceeded inflation. If you want to say we need to do way more because that amount of income is still a fucking crime, then that sounds good. If you want to say we need to get rid of the team that achieved that $2.24 increase, instead of seeing what they will do with another 4 years and even if the alternative is to bring it back down to $7, then I have some questions