From: Erik Aronesty (erik@zoneedit.com)
Date: Sun Oct 26 2003 - 21:30:59 MST
"The burden of increased minimum wage is passed to the consumer"
This is an idiotic statement.
There are many places that increased payroll expenses can come from.
Increased minimum wages cause increased consumer spending. In the hands of low-end consumers, money most quickly returns to the system.
Not all businesses have the luxury of raising prices in response to minimum wage increases. Due to competition, many of them are forced to suffer profit losses.
When high-income monopolist profits are lost to consumer wages, it is generally good for the economy.
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