Mitt Romney: Wage Inflation
on Thursday, December 1, 2022Meaning of Mitt Romney Money Quote: saying the minimum wage should see cost of living increases that match rates of inflation. Mitt Romney said:
“I think the minimum wage ought to keep pace with inflation” — Mitt Romney
Share the Mitt Romney Money quote image above on your site:
Short Link to this Quote:
In this quote, Mitt Romney expresses the view that the minimum wage should be adjusted periodically to account for inflation.
By saying it should “keep pace with inflation”, Romney appears to believe the minimum wage is intended to provide a basic living standard for low-income workers, and that standard erodes over time if the wage rate remains static while prices are rising.
The implication is that minimum wage should be indexed to inflation to prevent its buying power from gradually weakening.
Overall, this quote suggests Romney supports the minimum wage increasing automatically to maintain its real value and ensure full-time minimum wage workers can still afford basic necessities even as overall costs of living climb with inflation.