Probably still underpaying then, aren’t you?

And giving everyone raises after a record year of inflation isn’t exactly a headline statement. It’s more like - “our workers would have made less this year than last year if we hadn’t given them raises… and probably would’ve quit. So, we had to give them raises.”

"I went to the market and offered $2 for a loaf of bread - the shopkeeper said no. So I offered $3, but he still said no. This must mean that no amount of money could possibly buy a loaf of bread and not that the price of bread has risen above what I offered."