Quote:There is no doubt that increasing wages will result in price increases if corporate and business profit margins are otherwise maintained at current levels. However, many economic studies have shown the the magnitude of expected price increase can be quantitatively determined and are anticipated to be far less than claimed by detractors of minimum wage increases.


The level of price increases necessary in any industrial sectors necessary to maintain existing profit margins are a function of the total labor component of a product’s or service’s final price times the average wage increases that would result from an increase in the minimum wage to $15 per hour.


There's far more to this. It's not a Carte Blanche, one size fits all, effect on every business. It will affect many differently. If, for instance, WalMart paid $15 an hour, it would cost the average shopper less than a dollar, something like .47 last research I did, per shopping trip AND the 4 Walton's would still remain in the top 10 of richest people.

Of course a small restaurant would have problems, but I've read where the no tipping practice helped retain customers.


Bring back decent paying jobs, reduce " free" trade.....( even all you Donald lovers obviously know he himself is against it) and lets look out for 'Murika first. Good luck with that with the new what's in it for me attitude.


IMO...this wouldn't be an issue if there were good paying jobs to be had. Many of these minimum wage workers are NOT high schoolers or the uneducated. They're there because they have little choice. Our free trade agreements have benefited the few and hurt the many.

The wage gaps that are widening so quickly that the end result will be a plutocracy or revolt.

I do not think people should be paid more than their skill level, however, creating a caste system and not having an opportunity to at least achieve the " dream" is fading away.
As far as say, Mickey Ds? Wages there have been relatively stagnant. Has the price of a Big Mac ?
So to now say prices are rising due to wage increases is a fallacy, and naive. Of course it's part of it, but inflation certainly hasn't met wages...for years. Even the naysers here would agree their Chinese made Don't tread on me flag costs more now than a few years ago... Musta been the wages.