Boosting minimum wage doesn't do anything except cause inflation. You're getting paid more but your money is worth less.
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Boosting minimum wage doesn't do anything except cause inflation. You're getting paid more but your money is worth less.
False.
Where do you think the money comes from? The cost of goods and services will increase due to paying higher wages. A knock-on effect occurs where businesses in general will have to increase the cost of their services due the increase in cost of other services. Sure people get paid more but it causes a blanket increase in the cost of good and services.
What you are describing is false. It doesn't happen. Look to every other time the minimum wage is raised. The fear mongering doesn't hold any water.
The money comes out of company coffers where it was sitting and doing nothing. It then goes to the bottom who spend it all and those companies then have more customers. It creates a better economy with more prosperity for all.
That's what has happened every time.
Not all businesses have great profit margins. You are making an assumption that the business will still be able to make a profit once higher wages kick in. Not all businesses can and that's just a fact. So they will need to increase the cost of their services or reduce costs elsewhere. I know a few businesses will try cut costs but I can also assume that a lot will increase cost of their service. Small businesses get hurt the most by this.
It will be a net benefit. Tighter margins on more volume still works out.
Come on mate construct an argument, you're not proving anything by just saying your opinion and not backing it up.
Wow, you've completely characterized your stance and then projected it onto me. My argument is to reference history and the times when this very same thing has been done before.
You are just lamenting ideologies that have been proven false in reality.
I'm sorry you don't like the facts.
Also I'm really surprised that someone with your reputation level can't make an argument without using a fallacy.
LOL would you care to name the fallacy?
Please dont use logic when talking to a libtard. It doesnt work
logical fallacies are not logic.