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by cmonreally123
605 days ago
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I think you hit my points nail on the head. Automation is the upper bound, I'm not convinced on your latter point because market forces typically act before minimum wage, which I think a different comment or brought up in relation to McDonalds. Just so it's clear I think if there is a legal solution to this it's on taxing the high end of incomes, inheritances, and capital gains, not the low end. |
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If there were a long term inflationary effect, then industries particularly sensitive to minimum wage costs should have significantly higher prices in Australia compared to the US. That doesn’t appear to be the case; perhaps they absorb the additional costs in the profit margin. It can’t have no effect, but it’s clearly not as simple as you were implying.