CDavid
Well-Known Member
Well you can raise minimum wage to a point, but that increases the cost of every product that uses low income workers. In an oversimplified example the CM who gets bumped up to $10 or $15 an hour now would have the disposable income to go out to a sit down dinner to celebrate his or her raise. Only problem is that $9.99 burger and fries at the local chain restaurant he wanted to order now costs $25. Disappointed, he heads to McDonalds to get some of his usual fast food but the value meals are all now over $10 too. .
As already noted, a significant (and necessary) increase in the minimum wage will produce some increase in prices passed along to the consumer, but most people tend to grossly overstate this. A increase of, for instance, a quarter for a McDonalds meal is perhaps realistic, but to hear people tell it, you would think something on the dollar menu would see a 300% increase ($3 or more)! Still, your basic point is sound - a wage increase is desirable for the greater good.