OPINION: Tie congressional pay to inflation as a way to stop insane overspending
over 25% of the buying power for a poor household of 3, has evaporated and there is no end in sight.
The political math for how we got here is even easier than the economics. Government spending buys votes. The Federal Reserve has not established a formal inflation target, but their view is that an acceptable inflation rate is 2% or a little below it. For the entire year following a recorded inflation rate above 2%, salaries for members of Congress should be adjusted for the following year to mirror the relative impact of inflation on poor and working-class Americans. Members of the House and Senate currently earn $174,000 per year. Our current inflation rate of 9.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Sales tax holiday: Here’s what you need to know ahead of tax-free weekend in TexasWith high gas prices, food, mortgage/rent due to inflation, many parents are looking for ways to save money on school supplies.
Weiterlesen »
These Are The 5 Worst Ways To Pay Off Student LoansWant to spend the most amount of money possible on your student loans? Well, here are the 5 worst ways to pay off student loans.
Weiterlesen »
Rise of subscription sleepersOver 43% of digital media subscribers become inactive the day after they subscribe, according to a new report, up from 39% in 2021.
Weiterlesen »
Federal Minimum Wage Hasn't Been Raised in 13 YearsProgressives are urging Democrats to raise the pay floor as inflation continues to diminish workers' purchasing power.
Weiterlesen »
The Pros and Cons of Various EV Tires (Performance vs. Efficiency)Fortunately for EV owners who value range as well as fun, tire manufacturers are working on ways to help minimize the price physics makes us pay.
Weiterlesen »