While minimum wages may increase the amount of money in one’s pocket, they ultimately end up with less buying power. Because those higher wage costs get added into the products and services rendered.
This phenomenon is seen in every small town dominated by a U.S. military base. Retail prices always go up the day that pay increases go into effect.
“While minimum wages may increase the amount of money in one’s pocket, they ultimately end up with less buying power. Because those higher wage costs get added into the products and services rendered.”
Tell that to those who want to erect tariffs to increase wages in the US. I’ve had ‘fair traders’ tell me that a rising cost of goods won’t be a problem since everyone will have more money.
They’re creating a series of excuses to move the inner city low income housing trash out to the suburbs.
Some of the excuses so far
They are driving out no skill jobs, driving up cost of living and the lead paint in low income housing is contributing to the violence.