Changing the minimum wage only serves to cause corps to raise prices to cover the increased per employee cost which doesn't change the situation for minimum wage workers and makes everyone else's money worth less in practice
And if the minimum wage increases the price of items will increase further to adjust for the loses that companies take from having to pay their workers more. Its a good idea in concept but in practice it won't work with the current way that corporations runs. They are scumy. They will always be scummy. Raising minimum wage decreases their profits so they WILL increase prices of everything to match the loses they take.
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All it will do is make minimum wage workers feel like they are getting paid more when in reality everyone's money gets devalued an almost equal amount to what the minimum wage was increased.
The minimum wage workers will have more money with equally less spending power. Everyone else will have the same amount of money with less spending power.
Why make a statement when you understand that it is a logical fallacy?
I stated a facet of Economics that has been demonstrated more than once and your only response is to say something you know is broken logic?
That's not how that works. The opposite would actually be true in this case anyways but that's not the point. Look at every time the minimum wage has ever gone up. Look at the cost of living before and after that point. Every time you see he exact same thing. The cost of living rises to fill the gap in corporate profits so they don't lose money. Every time. It's a demonstrable principal of capitalist economics.
the overall purchasing power of goes down. Non-minimum wage workers get no change in their pay at all. The cost of everything goes up and they get paid the same.
You don't seem to understand how purchasing power works. If the cost of goods goes up no matter the increase in pay for the minimum wage workers the power of a unit is still lower. 10 dollars will get everyone less if the minimum wage increases.
Minimum wage workers get the equivalent of a few extra dollars a year after adjusting for the lowering in strength of each dollar they get total and everyone else gets all of their money lowered in power by multiple times the total gains of the minimum wagers.
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All it will do is make minimum wage workers feel like they are getting paid more when in reality everyone's money gets devalued an almost equal amount to what the minimum wage was increased.
The minimum wage workers will have more money with equally less spending power. Everyone else will have the same amount of money with less spending power.
See... your logic fails when you put it in reverse.
I stated a facet of Economics that has been demonstrated more than once and your only response is to say something you know is broken logic?
You don't seem to understand how purchasing power works. If the cost of goods goes up no matter the increase in pay for the minimum wage workers the power of a unit is still lower. 10 dollars will get everyone less if the minimum wage increases.
Minimum wage workers get the equivalent of a few extra dollars a year after adjusting for the lowering in strength of each dollar they get total and everyone else gets all of their money lowered in power by multiple times the total gains of the minimum wagers.