Jimmy Higgins
Contributor
- Joined
- Jan 31, 2001
- Messages
- 50,632
- Basic Beliefs
- Calvinistic Atheist
All businesses would be impacted, prices can increase to manage this. The price increases will hardly be 1 to 1. So the ultimate people paying the cost will be the consumers.
This has nothing to do with harming anyone, but requiring a minimal wage that makes it less a slave wage. $15 an hour is not wealth!
Unwarranted assumption! In the long run the price increases will be 1 for 1 as you haven't actually changed the economy. It will just take time for the changes to trickle through the whole system.
The price of producing a widget will increase based on the increase on the cost of production increase per widget. In all cases many more widgets are made than a couple per hour, meaning the increase in production cost per widget will be a fraction of the wage increase.
The world won’t stop spinning.
