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The problem is that minimum wage shouldn't be the end of the conversation. With an increase with minimum wage, rent and other costs will go up to match whatever
by loceng 8y ago
The problem is that minimum wage shouldn't be the end of the conversation. With an increase with minimum wage, rent and other costs will go up to match whatever pressure people will as near as sustainable without collapse as possible (indirect costs going up of course), along with other for-profit layers providing for basic necessities also increasing their prices.
- jyounker 8y agoPeople at the bottom of the wage scale getting a few bucks more an hour will not drive up costs. The additional demand is spread across categories of goods. You also assume that businesses are incapable of increasing production (or improving production efficiency) to handle moderate increases in demand.
- loceng 8y agoOf course it does. It's known when there's more money made available (e.g. student loans) then cost goes up (e.g. education tuition).