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To: PapaNew

If you raise the minimum wage the cost of living rises in response which devalues the new minimum wage. (Not to mention the inevitable loss of jobs)


11 posted on 02/04/2014 7:08:44 AM PST by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: cripplecreek

Right - another way of saying that forced economic floors like minimum wage increases prices for the same quantity of the same goods. On a very micro scale, that right there is a basic definition of inflation.


13 posted on 02/04/2014 7:15:31 AM PST by PapaNew
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