And a big piece of the puzzle, is that businesses can’t just raise prices to compensate for increased costs.
Theoretically, the liberals think McD and others can pay all their hired help $30,000 a year or more. But the liberals don’t think it through; that a Big Mac meal would go up in price to compensate. How many people are willing to pay $20 for a Big Mac meal???
Economic models show that as prices for goods and services rise, that demand will fall off. But if McD loses sales because of higher prices, where will the money come from to pay the $15 or more per hour wages???
On the other hand, people without job don’t buy much of anything, sot it all balances out.