Randy sez:
I am not an economist and cannot explain how it all works, but I
cannot help but wonder how much good it does to raise the minimum
wage.
We raise the wage and since employee costs are usually one of the
biggest items on the books, the prices have to be increased.
Then the employee making more money gets taxed more.
The folks who buy the stuff at the store where the prices went up
need more to pay their costs so they raise the prices on whatever
they sell etc.
By the time we are done, the folks who got the raise may not be any
better off.
Ah! But the whole point of it is: raising min wage bumps all prices
higher, meaning tax receipts go up, thereby the goobermnt goobers
have more money taken at gunpoint to spend.
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