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raising the minimum wage is good for the economy. It gives the working and lower class more purchasing power. The extra wages they earn are spent and go back into the economy. This then increases the demand for goods and services which is good for business owners.
To compensate for a rise in minimum wage business's may increase prices. But when people have higher wages those price increases have no affect on consumer spending.
Good for the economy? It forces more folks out of work because employers will get rid of folks. Are you that far lost? Oh yeah just raise prices and make it even harder for the foks who just lost their jobs due to the min wage increase to suffer more. LOL
Hint...........if your working a min wage job and your not a high school kid or doing a part time gig then you are a fool.
So all those people who dropped out of the workforce by hopping on the disability wagon are scammers but not fools?
And those who choose to actually work those jobs are fools? Do conservatives despise the working poor?
Which has more drawbacks to it? I haven't seen any comparisons.
Either choice seems to increase the price of labor on the employer.
There's no way wages will increase.
Obamacare mandates employers provide health insurance to workers at 30 hours.
Obamacare puts penalties on employers at $2K per head.
Obamacare puts additional taxes on medical supplies/equipment.
There's your wage increase only it's going to Uncle Sam, not you.
"One of the simplest and most fundamental economic principles is that people tend to buy more when the price is lower and less when the price is higher. Yet advocates of minimum wage laws seem to think that the government can raise the price of labor without reducing the amount of labor that will be hired" -Thomas Sowell
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