06-08-2016, 05:07 PM
(06-08-2016, 05:00 PM)Beaker Wrote: A large part of a companies expenses are its employee wages. All companies have minimum margins of profit they have to operate at. If the wages go up, the company increases the price of its product to retain its profit margin. In the end the person making minimum wage is now making more...but now everything else will cost more. So the low income wage earners still struggle with making ends meet.
This is not true.
The price of goods may go up 1 or 2 percent, but the people getting a pay raise from $7.50 to $10.00 per hour will be getting a 33% increase in pay. So it will be a HUGE benefit to the low income wage earners.
