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Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes
Actually...they can and DO raise their prices if they want too. And exactly 0% of the money is borne by the employer. It is all market. A company doesn't make money out of the air. Do you expect a company to take a hit when they can raise prices? Why do you think things don't cost a nickel anymore? It isn't just inflation.
And you don't just put more money in the economy. You put more people on minimum wage. Pure and simple. You aren't raising my pay from $11 per hour. Leave minimum pegged to inflation. As another poster said...why not just raise it to $1000? Then nobody will be poor.
Companies can not simply raise prices because they want to. The incidence of the cost will be partially borne by the market and partially borne by the employer. On the flip side, putting pay in the hands of workers means putting more money out into the economy as low income workers spend nearly 100% of her income, thus it will translate to more sales of products.
Actually...they can and DO raise their prices if they want too. And exactly 0% of the money is borne by the employer. It is all market. A company doesn't make money out of the air. Do you expect a company to take a hit when they can raise prices? Why do you think things don't cost a nickel anymore? It isn't just inflation.
And you don't just put more money in the economy. You put more people on minimum wage. Pure and simple. You aren't raising my pay from $11 per hour. Leave minimum pegged to inflation. As another poster said...why not just raise it to $1000? Then nobody will be poor.