Quote:
Originally posted by Corbin Dallas
If min. wage goes up though, inflation will go up. When it went up from $4.25 an hour, prices went up at nearly all of the places in my town that paid min. wage to their employees, causing everyone who shopped there to spend more money, and so on and so forth. I don't know that min. wage increases really help anyone, and I'd wager to say it hurts people that make more than that, because they have to spend more money without a wage increase.
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In general Congress typically waits until the prevailing wage is well above the minimum, and then adjust the minimum to be slightly therebelow. This minimises the economic disruption an actual minimum wage would cause.