A retired couple from the United States was travelling through Europe. While they were there they stopped to get a bite to eat. The sign on the door said “help Wanted $21 per hour”.
The wife turned to her husband and said, “Isn’t that wonderful honey. Look how much someone can make working in a fast food place. We need to do that in the United States.”
They walked in and ordered two burgers and a large drink to share, which totaled $20.
When they sat down to eat the husband handed the receipt to his wife and said, “Look, 2 burgers and a large drink costs $20 here, if we were back home in America it would have cost about 7 dollars. The minimum wage where we live is $7.25. It’s all relative.
The fact is wages affect prices.
They cancel each other out.
Each increase in wages increases inflation which decreases your net worth. Only the affluent know how to stop it.