Is raising minimum wage nationwide a horrible idea?

[amak11]

Mr Khan said:

amak11 said:

Mr Khan said:

prayformojo said:
It only works if there are laws in place to stop inflation. Being that this is the US, all we're going to see is $7.00 gallons of milk at the store. Living wages go up, costs go up. Companies don't want to lose their profits.

Again, is there any proof that this will occur in quantities sufficient to offset the gains?

I think he's trying to justify something. If I remember right inflation only effects imported goods. Meaning things like TVs and PS4s will go up in price and items like Milk and eggs and bread (necessities) will hover at the same price. 

I mean, CPI changes are a thing, but when the market *wants* to deflate but for the Fed's QE (I am American, btw), the CPI has remained stubbornly low. Despite certain sets on the right wing screaming their heads off for the last 5 years about how hyperinflation is just around the corner, it's never materialized. In a down economy, minimum-wage hikes aren't going to do much to push the CPI.

Exactly, they even say that about here in Canada. Always "increased minimum wage will lead to less jobs for Canadian workers". What leads to less jobs is poor politics in keeping those jobs in Canada. Then again, when you look at that corperations are greedy as hell. If they can pay your average chinese worker 1.85 a day for the same service they'll just offload their production. There in lies the politics of the problem.... the politics. :P