Re: Wages, Inflation and Social Security

From: The Trucker (mikcob_at_verizon.net)
Date: 01/14/05 

Date: Fri, 14 Jan 2005 14:06:30 -0800

tonyp wrote:

>
> "Jim Blair" <jeb@wisc.edu> wrote
>
>> Your post seems to confirm my claim that "wages rise faster than
> inflation".
>> They have in the past,
>> and likely will in the future.
>>
>> Agree?
>
>
> Not really. Wages (or incomes generally) compare purchasing power across
> the population at a _given_ time. Inflation compares "prices" across
> time. But "prices" of _what_, exactly?
>
> It seems to me that if I let you (or worse, the guvmint) define the
> ever-changing "basket of goods and services" whose prices define
> "inflation", then I am letting you define "inflation" to suit your own
> ends. The definition of "median wage", on the other hand, is much less
> open to political chicanery.

The "median wage" is in no way safe from Republican lying. The Republicans
will simply leave out all the wage data that they don't like, knowing that
the data is extremely difficult to acquire, or more importantly, it that it
is not possible for anyone but the government to acquire it. As the
Republicans control the entire government, then there is no way to get
the actual data as opposed to the Republican version of the data. Their
unified desire to see Republicanism (rule by fascist pig elites) succeed
and their lust to gain favor with Der Fuhrer is all that is necessary to
produce whatever "statistics" they might find self serving. Wage "data"
sampling is no different than "basket of goods" selecting.

HOWEVER!!!!

It IS becoming difficult to refuse adequate SS benefits by claiming
that wages aren't rising, and at the same time, to claim a wonderful
economy in which wages _are_ rising. This is the problem they
hope to solve by tying SS benefits to inflation. Then all that is
necessary to show a wonderful GDP and to also keep from paying SS
benefits is to adjust the "basket of goods" so as to hide the
"inflation" (defined here by Repugs as the increase in prices) caused
by ever increasing rents. With this new system in place, the claimed
increase in median wage will have no self correcting negative feedback
via SS benefits. 

-- 
"I know no safe depository of the ultimate powers of society but
the people themselves; and if we think them not enlightened enough
to exercise their control with a wholesome discretion, the remedy
is not to take it from them, but to inform their discretion by
education." - Thomas Jefferson.  htbtp://GreaterVoice.org

Relevant Pages

  • Re: OT: President Obama
    ... Ask any economics professor. ... That's inflation, pure and simple. ... Raising wages WITHOUT increasing productivity IS inflation. ... Of course mimimum wage earners ...
    (rec.gambling.poker)
  • Re: Unit pricing come-ons
    ... I'm staying ahead of inflation, ... NEW YORK -- Most workers have not seen wage gains keep ... The New York Times reports that the median hourly wage for American ... energy prices, so the gap between wages and prices could increase for ...
    (rec.food.cooking)
  • Re: Unit pricing come-ons
    ... I'm staying ahead of inflation, ... NEW YORK -- Most workers have not seen wage gains keep ... The New York Times reports that the median hourly wage for American ... energy prices, so the gap between wages and prices could increase for ...
    (rec.food.cooking)
  • Re: OT: President Obama
    ... administration, there was massive inflation. ... Ask any economics professor. ... overall increase in the price of goods and services across an economy. ... Wage inflation, a large part of the economy, YOU RETARD. ...
    (rec.gambling.poker)
  • Re: Mortgage repayments to take home pay ratio.....
    ... If your salary goes up by, say, a conservative 8% each year (4% wage ... inflation plus 4% annual increment), ... years the debt peak is? ... likely reality of annual increments, but apart from that it will provide an accurate ...
    (uk.finance)
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