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To End ‘New Gilded Age,’ House Progressives Unveil Bill to Raise Federal Minimum Wage to $25 Per Hour
(www.commondreams.org)
Should be about 40 usd, minimum.
this post was submitted on 28 Apr 2026
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Without restrictions on rent increases , that's just going to increase inflation. That's what always happens.
When minimum wage goes up, every single industry thinks they deserve that extra money.
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.
Extreme inflation bankrupts a country.
Not that we aren't already headed there. But still.
In my opinion, this here is far from becoming extreme inflation. Even 100% a year is not extreme, and I don't think minimum wage tied to median wage will cause more than 10% inflation
But of course, I'm no economist
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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(1 replies)
Inflation keeps going up anyways. The boring answer is to set it to something reasonable and have it go up 2% every year to keep pace with inflation rather than these big jumps that gets everyone worked up.
Someone else suggested it should be a set percentage of gdp. Not amount. That seems like a good idea too.
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(1 replies)
This would be super great, therefore it won't happen. There is no hope.
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(3 replies)
Just peg it. Treating it as a moving target dies nothing.