The hourly rate you need to afford a two-bedroom apartment in every state

[Brownshoe]

(06-08-2016, 02:23 PM)fredtoast Wrote: Wrong.

Total gross income in the united states is 8.3 trillion.  Giving 3 million full time workers a $2.50 an hour raise would only cost 15 billion.  That is only an increase of 2 tenths of one percent.  That is not enough to cause any significant increase in inflation.  

Plus corporations may be forced to reduce executive pay in order to pay the increase of minimum wage jobs so that there would be a zero net sum gain.

It will increase the production cost of the labor since a $2.50 raise would be over 33% increase in cost. You're insane if you think corporations will reduce the amount of money they pay their executives over just increasing the price to cover the increased labor cost. That increased cost for pretty much everything that involves minimum wage jobs would result in the inflation. If companies don't increase the cost of the product / service then they will just eliminate jobs and force their employees to work harder/ more efficiently. Loss of jobs would mean less money flow and increase inflation. Sometimes both will happen too.