Is raising minimum wage nationwide a horrible idea?

[phaedruss]

Rustuv said:

Mystro-Sama said:
Doesn't this just cause inflation proportionally.

No. You are confusing rising cost with inflation. Rising cost has to do with the value of our goods going up, while inflation is a loss of value in our money. Truth is that when you account for inflation Minimum wage has actually been going down for over 40 years. $10 an hour minimum wage would actually only bring minimum wage up to being equal to what minimum wage was in late 1960's

Rising cost is inflation (aka lower value of money). In a market economy the price of the same good should go down over time. It's funny that you say that rising cost has nothing to do with inflation and then show how it does when explaining that minimum wage (i.e. cost of labor) should actually be much higher if we were to take inflation into account. Actually, I think the minimum wage would be much higher if not for the lower value of the dollar. That's all on the government though.