Re:How poverty changes your mindset
by maxxxxx on Sunday February 25, 2018 @09:41PM
(#16462661)
That would only be true if the goods minimum wage workers produce are being bought only by minimum wage workers. In reality the price also goes up for incomes above minimum wage so in a sense raising the minimum wage is a transfer of money from higher earners to lower earners.
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In reality what happens, is those jobs go away (jobs like retail) and they are replaced with slightly higher paying jobs (like Amazon warehouse worker) except at a rate of about 1 new job for every 10 previous jobs.