Quote:
Originally Posted by Robbie
I'm saying that ONE of the bad results of raising the minimum wage is that it will raise the price of EVERYTHING we buy. Thus the extra money the minimum wage earner gets will be nullified by the higher cost of everything he has to buy with his money.
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Seriously?
1. Companies charge what the market will bear. Always have. Always will. If raising their prices for any reason (regulations, taxes, increased min wage, or simply a desire for higher profit) results in a price the market rejects, the price will come back down. If they can get away with raising the price as a result of a higher minimum wage - they'd already be doing it and pocketing the extra $$$.
2. That "raising the minimum wage hurts the poor due to the resulting higher prices" argument only works on Limbaugh's audience. By that logic, the best thing to do for the struggling working class is CUT their wages - then think about how much better their standard of living would be with all the products they'd be able to buy dirt cheap!
