4 ms·
Prices will only go up till the new minimum wage is equally painful. Yes. We need our poorest to be less poor. Yes. We need all of our people to have access
by stray 11y ago
Prices will only go up till the new minimum wage is equally painful.
Yes. We need our poorest to be less poor. Yes. We need all of our people to have access to health care and a decent place to live.
But it's not enough. Not really.
- JoeAltmaier 11y agoMinimum wage used to be adjusted for inflation. That hasn't happened in decades. Its past time. And its a myth that prices go up according to minimum wage. In truth its a very weak influence on inflation. Prices will probably not change much at all. Our entire economy does not depend on what we pay the lowest earners.
- stray 11y agoIt is not a myth that as the supply of money is increased, prices go up to reach equilibrium. Supply/demand works in both directions.
- placeybordeaux 11y agoThe supply of money is not related to the minimum wage. The supply of money is increased by issuing bonds.