Conversations about minimum wage are often like a blind person describing a sunset—no mention of what is going on and why our dollars buy less.
It’s not the productivity of the market declining; we still see prices of manmade gizmos falling. It’s not that we work fewer hours. It’s not workers losing incentive to work due to pay. It is due to the constant theft of their assets by government.
It is the fact that the federal government debauches our currency and steals our salaries, wages, and savings through intentional, deliberate, planned inflation that creates the endless necessity for higher wages.
Inflation gives those with first access to money (banks, big corporations and government) a windfall (paying today’s bills with tomorrow’s less valuable money). Inflation steals from all wage earners, savers, and especially retirees.
America had stable money until 1913. Since then we have had endless inflation, intentionally created by the Federal Reserve to support central banks and their profit.
What is needed is to stop inflation and the theft of savings, wages, and assets.
Artificially high entry wages destroy jobs, reduce opportunity, and do not address the actual problem of intentional theft, (via inflation) by our government.
— Richard W. Ferris – San Luis Obispo
This article appears in Oct 9-16, 2014.
