Gallup: Inflation Causing At Least "Some" Hardship for 45% of U.S. Households

[sting in the rafters]

https://news.gallup.com/poll/357731/inflation-causing-hardship-households.aspx

As one can expect, price increases are being felt the most by lower-income households that see inflation eat up their real wages and lack the investments in equity/commodities/property to see any tangible benefit from a prolonged shortage in aggregate supply.

Lower-income households are most likely to have experienced financial hardship due to price increases. Seventy-one percent of those living in households making less than $40,000 a year say that recent price hikes have caused their family financial hardship. That compares with 47% of those in middle-income households and 29% in upper-income households.

Moreover, 28% of lower-income Americans describe the hardship they are experiencing as severe and affecting their ability to maintain their current standard of living.

[PSOL]

A minimum wage increase would have gotten people a wage that exceeded inflation months ago and would have allowed for more crucial savings and investments. It was a poor idea not to raise it back in January last year.

[Del Tachi]

GenMac thinks these people are liars lol

[TheReckoning]

A minimum wage increase would have gotten people a wage that exceeded inflation months ago and would have allowed for more crucial savings and investments. It was a poor idea not to raise it back in January last year.

You do realize only about 3% of workers work on minimum wage, right? So raising minimum wage would have almost no impact?

[Clarko95 📚💰📈]

It would be much more useful and insightful had they asked what specific categories of expenses they were squeezed by the most. Gas prices and housing? Rather predictable. Anything else? Food, clothing, consumer goods, utilities, dining out, entertainment, etc.? Definitely worth investigating more.

[Cassandra]

A minimum wage increase would have gotten people a wage that exceeded inflation months ago and would have allowed for more crucial savings and investments. It was a poor idea not to raise it back in January last year.

You do realize only about 3% of workers work on minimum wage, right? So raising minimum wage would have almost no impact?

If the wage floor doubles, wages will rise across the board. Otherwise in certain places you would have low level guys making the same as managers.

[TheReckoning]

A minimum wage increase would have gotten people a wage that exceeded inflation months ago and would have allowed for more crucial savings and investments. It was a poor idea not to raise it back in January last year.

You do realize only about 3% of workers work on minimum wage, right? So raising minimum wage would have almost no impact?

If the wage floor doubles, wages will rise across the board. Otherwise in certain places you would have low level guys making the same as managers.

That’s… not how it works.

[Klobmentum Mutilated Herself]

A minimum wage increase would have gotten people a wage that exceeded inflation months ago and would have allowed for more crucial savings and investments. It was a poor idea not to raise it back in January last year.

You do realize only about 3% of workers work on minimum wage, right? So raising minimum wage would have almost no impact?

41% of workers make less than $15 an hour. 31% make less than $12. They may not be working for the literal minimum wage, but they're not working for a living wage either. A $15 minimum wage means a guaranteed raise for 41% of the workforce.

[Kamala's side hoe]

Related: Why The Middle-Class Is Disappearing

TL;DW- "middle-income" doesn't guarantee a middle-class lifestyle these days