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> If everybody raises wages, and consequently prices (that is assumed since that's the only way you could have lost competitive edge after raising wages) - then
by IanCal 11y ago
> If everybody raises wages, and consequently prices (that is assumed since that's the only way you could have lost competitive edge after raising wages) - then what's the point of it?
Why would prices increase by the same amount as minimum wage was increased by?
Pay the attendant 5% more and the total cost of obtaining, refining and delivering gas doesn't increase by 5%.
- bsbechtel 11y agoRefining and delivering gas requires labor too. While many in that industry may earn more, I'm sure there are minimum wage workers employed by that industry that will affect their costs. It doesn't help right now that oil and gas are at rock bottom prices either.
- XorNot 11y agoThe notion that oil prices are remotely connected to the cost of labor in any effectual way is laughable.
- JoBrad 11y agoOil rig workers do not make the minimum wage, at all. Neither do most refinery workers. I say this as someone who knows several people who work on oil rigs off the Louisiana coast, and have worked with (but not at) several petrochemical companies.
- IanCal 11y agoRight, but your point hinges on not just the price rising, but rising by the same as or more than the increase in minimum wage.