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As you increase the wages of people making little, you gain more customers from those same people. Of course this may not apply to restaurants service 30 dollar
by mbfg 5y ago
As you increase the wages of people making little, you gain more customers from those same people. Of course this may not apply to restaurants service 30 dollar meals, but more people will buy a $5 sandwich when their wages go up.
- drewcoo 5y agoOh, Henry Ford, you socialist!
- gruez 5y ago>As you increase the wages of people making little, you gain more customers from those same people. presumably that's already factored into the price elasticity calculations. also that logic only slightly offsets it. At the end of the day you're paying your workers more, and only a small fraction of that increase goes into your pockets. All in all it's still a net negative.
- lotsofpulp 5y agoThe net negative is the point, to help close some of the gap on page 12: https://crsreports.congress.gov/product/pdf/R/R44705/6 https://crsreports.congress.gov/product/pdf/R/R44705/6
- lytrplytprytr 5y agoWhy not increase min wage to $100/hr so they can afford those 30 dollar meals?