Originally Posted by
tony
They did that in Alaska.. minimum wage was raised to like $7.50 an hour. Literally all it did was raise the prices, to offset the rise in wages companies raised their retail prices... the end result is your paying $6.00+ for a value meal at Mcdonalds and I kid you not that is what happened.
Higher wages that are forced by the government mean a couple of things from a business standpoint: Layoffs or Higher prices, the market will adjust and you're back to square one, although you are making more you are also paying just as much.
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