On Wed, 05 Mar 2014 10:22:40 -0500, "Mr. Luddite" wrote:


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.



It's a way to look as though you're helping a segment of the population which will, hopefully, pay
you back with votes. You're getting into an analysis which those at the bottom of the pay scale are
not going to make. Liberals see the pay increase as a 'good for the poor' thing. The fact that it
will increase the price of goods, or reduce the number of jobs, has little bearing. Those numbers
don't become visible for a long time.

The latest, that I can recall, numbers from CBO were 15 million people getting more money and only a
half million or so out of jobs. Sounds like a net gain of 14.5 million votes.

Therefore, the Republicans should not only jump on that bandwagon, but go for a bigger number. Once
they get some power they can start making up for their bad decision.