Quote:
Originally Posted by bomberjet
While I agree with the statements about overpaid police. Raises of 2%-3% per year should be bare bones minimum for every single employee of every company. At minimum, rate of inflation which is usually around those rates.
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That just pushes inflation up since those increases don't reflect any increase in the value of what the people are doing. You're just pushing more money into the economy, all chasing after the same things, so prices rise until the wages of the employees essentially have the same value as they had before the raises. In the 1970s, when inflation went out of control, unions were going on strike for 10% annual raises, and routinely getting them. Needless to say, no one got rich, while people on fixed incomes were badly disadvantaged.