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Originally Posted by florida0214
Raising minumum wage makes prices go higher. For example you raise the wage by 4% well everything goes up in price by approximatly 4%. And the only people who are making more money are the people who are working at the lowest wage level anyway. Ppeople may make more but they end up spending more int he long run anyway.
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Not necessarily, supply and demand dictates what the price of goods are. With the increase of oil in the last couple of years, do you think that all of that cost went directly to the consumer? Sure in some industries it did, and in others it had to be swallowed by the organization. Im sure a raise in minumum wage would have the same effect.
Here is a thought, lets raise minimum wage and reduce the amount of money that we give our CEOs. Did you know that the average CEO makes over a hundred times more than the average worker?