Post #1904363
2026-04-28 21:34 UTC
In a way, driving rampant inflation supported by a rising minimum wage tied to inflation destroys the wealth hoarding of the rich, if it is denominated on dollars. Actually, since most of their wealth isn't, it destroys the savings of the poor and middle class.
Replies (3)
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@daannii@lemmy.world 2026-04-28 22:40
Extreme inflation bankrupts a country. Not that we aren't already headed there. But still.
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@ParlimentOfDoom@piefed.zip 2026-04-29 00:49
Except most of the wealth is equity which would also rise along with/usually faster than the inflation rate. They're not sitting on cash.
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@daannii@lemmy.world 2026-04-28 22:46
Yeah it just makes the middle class lose what little savings they have.