I would highly recommend the short book The Great Taking. He explains some of this.The problem is who/what caused the inflation? In the Carter years, and now the Biden years, it's democrat policies. Tax and spend.
If you think wages should follow inflation, the inflation will continue to increase along with wages until the country is bankrupt from spending which causes inflation.
High inflation without following wage increases creates a new voting class that puts in people that are hurting to vote for those that at least say they are going to hold down inflation and spending.
Yeah, I know that has people hurting, and it's not their fault.
It's the fault of the liberal politicians that create inflation.
Proof in the pudding......several chain restaurants and fast-food companies are leaving commiefornika because of the new $20 minimum wage designed to "help" them through inflation.
If inflation ever falls (HAHA!!) in commiefornika, do you think the wages should be reduced to follow that?
It will never happen there or anyplace else.
What did happen is that thousands of people that had jobs are now without jobs because of the theory that wages should follow inflation.
Brain dead biden's promise that new taxes will never effect anyone making under $400,000 is a chant to the stupid. Raising taxes to corporations will result in raising the price to the consumer with is a backdoor tax.
Companies don't pay income taxes. They have a bottom line of staying in business, anything more gets passed to the consumer. Brain dead biden saying he is going to make the big business that contribute to his re-election pay more taxes is a big lie.