Is Fox news unironically the best place to learn about your new favorite social dem?
this post was submitted on 25 Jun 2025
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Raising consumer prices because of increased minimum wage is a myth. Even fucking Henry Ford of all people knew the benefits of raising wages! More wages means more people buying his cars! More wages means more consumer spending! And it is not like raising minimum wage is what drove prices to increase since the pandemic; even though the minimum wage has been stagnant since the 1970s! Businesses will tell you that they have to increase their price because of "inflation" despite having record profits!
Depends on the company, that's why I am asking. In companies where wages are the main cost (like in many restaurants) raining the wages will raise the total costs. Which can mean they will go into the negative if the prices aren't increasing as well. I have seen a fair amount of administrations/annual reports of restaurants. And it was pretty common to spend at least as much on food as on the personel costs (wages, social security, pension, etc.)
30$ is a lot compared to the minimum wage 14,40€ (16,84$) we have in NL. Which is why I am asking what the impact of it would be in the US of such an increase.
(Yes it will not matter for MacDonalds, Burger King or any other big chains)