this post was submitted on 10 May 2024
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Just tie minimum wage to inflation
If you do that you will give even more incentive for the government to underreport inflation.
Also inflation usually measures consumer prices. Ever wonder how education, healthcare, housing, and most other major expenses can increase significantly faster than inflation? This is why.
If your rent goes up, its not inflation. If the cost of chips goes up it is. Tie it to a better metric.
I guess we'd need a better system for measuring real inflation then
It's crazy that inflation doesn't take these things into account.