Can't the government freeze profits and layoffs during times of crisis like this?

Question

So, the actors want more money, ballplayers want more money, CEOs want more money, doctors want more money, lawyers sue because they don't have enough money...so why is the middle class about to go extinct?

Answer 1

Yes, the government can freeze profits, etc., as it has done in the past.

Me, being a poor boy, I'd say, don't worry about the middle class, they always have money, worry about the poor folks.

Answer 2

This is a typical question from someone who thinks the government should take care of everyone and has no idea how we built this great country. If our founding fathers had this spirit we would still be an English colony.

Answer 3

Sadly, the prevailing paradigm of capitalism is that we all fight tooth and nail for our own narrow interests, the strongest get theirs, the weakest get the shaft.

President Nixon tried imposing wage and price freezes back in the early 1970s.  Anyone who wanted to raise either wages or prices had to get official permission.  But the way it worked, nearly all wage increases were denied but nearly all price increases were allowed.

Double digit inflation in those days was caused by (1) a large debt from a long, expensive, unproductive war and (2) A sudden doubling of the price of gas.  Sound familiar?

Answer 4

It looks like we are heading to a chaos. The government is simply non-existent. It is in a drift. Every union is organising strike, when the political parties are busy arranging coalitions and disrupting the existing ones. This is the time for patriotic forces to remain united and fight united against the anti-national elements and fight the currents working against the interests of the nation.