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"it'd end up just shifting the costs to higher overall prices, which everyone will bear" -- not true. fact is, everyone bears those costs now, through the tax m
by bakhy 12y ago
"it'd end up just shifting the costs to higher overall prices, which everyone will bear"
-- not true. fact is, everyone bears those costs now, through the tax money going out for those social security programs. minimum wage will make it a burden just of those businesses, and not obligate society as a whole to subsidize their workers pay. as for the supposed price hike, rahimnathwani already covered that ;)
- fdr234rd22 12y agoThis argument really needs to stop. 89% of minimum wage workers do not live in poor households. (see my Marginal Revolution citation on this page). It's extremely misleading to insinuate otherwise.
- bakhy 12y agowhat about that McDonalds story, fabrication? also, for me it is far more improtant to note that, if i may guess, >90% of companies paying most of their workers a minimum wage do not operate on zero profit.
- zo1 12y agoI take it you didn't read the rest of my comment? The business will just shift the costs off to the consumers again. They will not "take one for the team" by reducing their profits.