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by crdoconnor
4548 days ago
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It mostly eats into corporate profits first. Then it starts having an effect on inflation. If you think corporate profits are too low (fwiw they're at record highs right now), and corporations deserve more profit you shouldn't support a raise in the minimum wage. If you're interested in what happens to prices if the minimum wage is hiked, read here: http://164.36.50.178/lowpay/research/pdf/NMW_profits_and_pri... "Our analysis of retail prices in 3 catering industries (canteens, restaurants and takeaways) does not indicate that prices in these industries were differentially affected according to their exposure to
the minimum wage. Surprisingly, the only evidence of any price effect is found in the canteen industry where prices rose by a modest 1% in April 1999. " |
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