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Mr. Luddite Mr. Luddite is offline
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First recorded activity by BoatBanter: Aug 2013
Posts: 6,972
Default Minimum Wage debate


Can any of our resident economic experts explain how raising the minimum
wage helps anyone?

The cost of goods sold reflect the cost of selling those goods. If the
minimum wage is raised, the cost of selling increases causing the cost
of goods to increase, resulting in going back to square one in terms of
what is affordable to everyone.

The only way it makes sense to me is if the minimum wage is raised but
the cost of goods stays the same. That isn't going to happen.