Is raising minimum wage nationwide a horrible idea?

[outlawauron]

kupomogli said:

outlawauron said:

Well this is entirely wrong. It's not about making back the decreases but increasing profitability. Still being profitable isn't acceptable. So, in order to maintain that same level of profit, they're going to increase the price. Increases in taxation, minimum wage, and regulation lead to very fast increases in prices of the goods and services provided.

Yay for ridiculous price increases without minimum wage increases then, right?

People who have to look for a minimum wage job or have been working one for five years are getting the shaft because they're going further in debt when prices continually increase year after year with a minimal increase to their pay from corporate America.  $.10-.20 hourly per year doesn't cover the mark up literally every item on store shelves get. 

Sucks to be an mediorce employee who doesn't make an impact on the business. Every person I've known who has worked at big box retail/fast food has gotten much larger raises (10-20x) in a year.

Also, outside of oil, what has had ridiculous price increases that were the result of inflation and not regulation.