minimum wage increase?

Question

Super random but I hate going to Facebook with anything political so anyway.. do you think a minimum wage increase will affect the prices of goods? I'm no economist so I don't have much of an opinion but I figured it would affect companies that hire high amounts of minimum wage workers.. where else would the money come from other than raising prices?

Answer

It definitely raises the prices. The other day I was at Taco Bell and it cost four dollars more than what it used to cost and when I asked why they said it was because minimum-wage increased. But it won't just be fast food, rent will go up, groceries will go out, gas will go up. But my personal issue is this...
 I am a EMT and I live in one of the highest paying states for emergency workers (CO) and we make $13 an hour. Lass passed with the election that over the next eight years minimum wage here will be raised to $15 an hour. However there's been no talk about raising wages for emergency workers. I will support minimum wage being higher when emergency workers make more than the fast food workers.

Answer

Yes it will. And screws over a lot of people. $15 an hour used to be a higher paying rate. And they are only raising minimum wage they aren't giving anyone else a raise. So the cost of things will go up and someone who was making $15 (or more) an hour and used to live comfortably is now basically getting demoted. I hate that raising the minimum is even a thing it is meant as beginning jobs for young adults not for people that have families of 5. Plus raising the minimum pushes out all small business and they will eventually have to shut down because they can't afford to pay that much. Leaving only the big companies to run everything.

I'm not super educated on the whole topic but this is how it has affected me or family members so far, and the minimum wage hasn't even gone up to 15 yet (at least not where I live)

Answer

Yes it will

minimum wage increase?

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