this post was submitted on 30 Oct 2024
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United States | News & Politics
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Yes the graph says that your income would be around 0.7% higher. What the dramatic increase of the others will do to the value of your income (inflation) and hence the stuff you can actually effort with this, is up to discussion of somebody who knows this stuff better than me.
The issue here is that for those of us who are actually in the middle class a thousand bucks shouldn’t make us betray folks who need the help more than us.
IMO
It only goes so if Trump doesn't place the tariffs he says he wants to place, because then prices on all goods increase across the board...
He wants 100% tarrifs which is just a tax on us in the end on everything from China and Mexico. And 20% on everywhere else.
So every item you buy, mark the price up by such, and then ask yourself if you spend $1000 that year.
Note: never has he mentioned food being exempt.
Throw in the deportations and you look at the building unions who say they are 400,000 workers short, and you realize labor shortages will increase building costs which in turn drive up insurance costs for houses...
So your income will go up by a $1000, and your expenses will go up dramatically
I legitimately think he doesn't understand that.
To be fair if someone worded it to him like I worded it there, it isn't very clear. I really need to take more time to phrase sentences more clearly. (Off topic but just needed to criticize myself there)
Raising minimum wage does not cause inflation.
I didn't say so, did I?