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| 05 Nov 2012 08:27 PM |
| They're still in poverty and they're only living on enough to get by. |
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pepper0
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TaslemGuy
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| 05 Nov 2012 08:31 PM |
Raising the minimum wage a bit could help a lot.
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pepper0
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| 05 Nov 2012 08:33 PM |
But could that raise prices on what businesses sell?
Also, If you raise the minimum wage, that would ultimately become the minimum wage, prices on things are raised thus the net change is zero. |
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TaslemGuy
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| 05 Nov 2012 08:39 PM |
@pepper
Only those businesses that pay minimum wage.
And those are mostly enormous corporations like Burger King / McDonalds / Walmart etc. who aren't going to raise prices.
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pepper0
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| 05 Nov 2012 08:41 PM |
Walmart raising minimum wage would destroy the world economy.
Walmart today sets the market. Low prices, and cheap goods.
If you raise the minimum wage, the middle class is in big trouble. |
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| 05 Nov 2012 09:38 PM |
making the minimum wage only brings the price of goods up since companies need to make up for the larger cost of production.
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| 05 Nov 2012 11:01 PM |
@pepper and vocal
i call fallacy on your argument
give me sources, give me proof, show me otherwise |
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| 05 Nov 2012 11:04 PM |
@Dx is literally the simplest of economics. If something costs more to make, it will be placed on sale for more money to make up for the cost of production.
It's like having to pay 2 dollars for something that would be sold for 4 dollars, if the production price (2) goes up (2.5) the sale price (4) has to go up to continue profit (5)
The proof is literally the reason why China can produce items so cheaply. |
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| 06 Nov 2012 03:37 AM |
| ^ not for long, give it some 10 to 20 years |
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