jigokutamago said:
Wait you mean raising minimum wage will cause no effect because prices change with it, but lowering minimum wage will cause an effect because prices do not change with it? Is this true? I don't know, I've only taken a couple of economics courses. |
Are you sure? I mean, the whole "taking economics" thing, because it seems like you tried to solve a problem and checked the immediate consequences before calling it a solution.
The thing is those people's pay goes into the cost of goods. True, this doesn't affect manufacturing of a lot, since most soul-sucking corporations have given our jobs to malnourished China Inf (they're op) at Foxconn. It does, however, affect the payrate of employees in retail, in marketing, and in shipping. There's also the food industry, which is mostly internalized for fast food. All those burger flippers in high school making $10 an hour would mean that those three dollars multiplied by hundreds of thousands have to come from somewhere. And since the fat F**KS at the top will never budge on even a DIME, this is coming out of you. Everything will become more expensive because the labor is more expensive.
That's basic economics, bruh. Raising the minimum wage over and over is just a precursor to inflation.
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