Businesses compete on price. this is basic stuff. Idiotic to think that if you make the rich richer they’ll pay higher wages. Businesses still compete on price. The more you pay workers the less you profit. That doesn’t change when you have more savings. It’s the same principle.
Corporations want to compete with each other. Once you lower certain standards on labor laws, on trade barriers, on wages, they all will race to the bottom.
People who rent out rooms, apartments and houses want to make as much money as they can. They’ll continue to work towards that goal.
This is basic stuff that the boomers messed up, trashing labor laws, trade barriers, “big government” etc.
You need laws that allow employees to defend themselves too.