PDF said:
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BMaker11 said:
ncreased costs = prices passed on to the consumer. Or, more people having more money = suppliers seeing increased demand so they increase prices in order to maximize profits. I saw the video PDF posted (funny, it went from asking for $9/hr to $15/hr in just one year between the video posts) that said the costs would come out of profits, not increased prices. Not true, companies don't want their profit margins to decrease. They may be "in stiff competition for customers" but if companies are thinking "I don't want to make less now than I did before", they're all going to go in the same direction and pass the cost onto the consumer. So either way, my purchasing power decreases. Meaning I am making less if others make more (on a large scale like that).
Also, define a "modest" lifestyle. I define it as being able to have a roof over your head, food on your table, and clothes on your back. Anything other than that is extra. Nobody is owed or entitled to "extra". You gotta work for that.
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Australia has a $15 minimum wage, yet the price of a combo meal is still comparable to the US.
To deny prices will rise some is niave and stupid. However to pretend all the bill of a higher minimum wage will be footed to price is also niave and stupid. Competition will keep companies from sharp price increases. Instead it will be a slow rise in prices. There won't be a skyrocket affect of inflation.
Corporations will also benefit from consumers having more expendable cash. SInce most companies are economies of scale, this will greatly benefit them as they will gain more customers.
Bringing it up to $10 to match what we had in the 70's is more than doable.
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No it isn't. It's not even close. I spent nearly 2 weeks in Australia and another week in New Zealand. Everything I bought was at least 50% more expensive for the same product in the US.
I don't think anyone denies that minimum wage needs to be increased a bit, but the $15 suggestion is a joke.
