politics

US federal minimum wage has de-facto been abolished, thanks to inflation.

This often gets missed because it happened slowly and as a result of inaction, but it's still worth talking about.

And when they raise it everyone gets brought into higher tax brackets

DeFi investor. Seeking new opportunities.

Yes, but your money is worth less due to inflation -> more money from wage to account for this -> govt takes larger % away due to moving into higher tax bracket -> you are left with lower purchasing power for the same productivity output

just because you are in a higher tax bracket doesn’t mean you make less money overall