But what about the price of everything going up more to compensate for the higher wages being paid?
In other words...let's say Minimum Wage Guy (most likely a guy who is brand new at his job and hasn't worked long enough or done a good enough job to get a raise yet) made $100 (just using an easy number)...and his living expenses were $99.
Now the miminum wage goes up and he makes $105. But businesses raise the price of goods to reflect the new higher price of labor costs. So now his living expenses are $104.
Seems to me that all the minimum wage does is just keep driving prices up over the years.
Also, doesn't the minimum wage only apply to full time employees? Sounds to me like a lot of folks are about to become "part time".
Yes...it would be great in a world of unicorns and rainbows if we could just raise the minimum wage and everybody would now have more spending power.
But here in the real world...the price of things will just go up and the new "spending power" will be nullified.
I'd much rather have the minimum wage at $1 an hour and have the cost of things back to where that would actually buy you stuff.
Labor costs are a HUGE part of any business. Wages, matching taxes, retirement funds, health care...it's just ridiculous.
I know that I'm not here on this Earth to take care of other people like they are babies. So why would any other business want to?
I don't see how anybody could think that raising the minimum wage would ever actually help anybody.
And I especially can not understand the thinking behind doing it when unemployment is already so high.
We should be coming up with ways to employ MORE people. Not creating new ways to make labor cost more expensive.
