Well, as far as the wage/price spiral is concerned, the chicken/egg part of the argument is settled IMO.
Wages have been stagnant since the 80's, inflation marched on the whole time. We have 40 years of data.
Making rich people richer causes inflation. When you print money, and give it to people who already have a lot of money, it just kinda sits there while devaluing what is in your pocket. Straight up; When a billionaire gets richer, you get poorer.
Now here we are, huge inflation, we've got the right saying “stop printing so much money, it's inflationary!!” we've got the left saying “tax the billionaires!!”
Just pay the fucking workers more. It's so fucking simple.
You're a CFO and you want a tax write off for the company? News Flash: Wages are deductible Scrooge McFuck.
Lets say you have a pizzeria, and you decide to pay your workers enough that can be your customer too. Even if you have an employee who hates pizza, they will eat at your competitor… and THAT IS OK… If that restaurateur pays THEIR employees enough to be customers, maybe they will go for a slice on break or take full pizza home for the family. Henry Ford (who I KNOW is problematic, for many reasons but setting the conditions aside) understood that if you pay (enough) employees to be your customer, you can build something revolutionary.
Eating the rich would be great, I'd have Bezo's left tricep, slow cooked or smoked, served pulled pork style, but their physical bodies lack the caloric content for real change, under fucking capitalism, we need money.
They can give it or we take it.