No one should be so naive as to think that wages among organized groups will not be increased, under pressure if necessary, to make up for increases in the cost-of-living, nor should anyone ordinarily object to such adjustments.
Sentiment: NEGATIVE
The blunt tools of legislation or union power can force a corporation to pay higher wages, but if employees don't create an equal amount of additional value, there's no net gain.
If workmen are denied any increase in real wages and they can look forward only to a better standard of living through reduction of prices, progress for them is terribly slow, and they become impatient and dissatisfied.
This government has always said increasing pay is something for something.
My question becomes, 'If we want to empower people with higher pay, there are probably better ways to do it that are more enduring than simply a federal mandate on wage level.'
For Members of Congress, we are saying here on the Democratic side of the aisle we are not going to vote for another pay increase for Members of Congress until the American people get an increase.
Inflation outstripped real wages for people who work for pay from others.
One man's wage increase is another man's price increase.
To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
When we lift the wage floor, it not only betters the lives of those whose wages are directly affected, it also lifts the economy as a whole.
I think it's much more important to keep people in work than have pay rises.