The absolute core explanation for why companies resist raising the minimum wage, and why they get their bought-and-paid-for mouthpieces in government to lie to us that raising the minimum wage is a bad idea and a job killer. If you understand and remember just one point, its this one: (7) We’ve also seen that such pay increases are most likely to come out of profits rather than higher prices because these businesses are in intense competition for customer dollars.
Posted on: Thu, 30 Jan 2014 17:43:09 +0000
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