It’s not true that increasing the minimum wage will raise prices excessively, unless the companies use that as an excuse. Economists say that McDonalds could raise minimum wage level to $10.00 an hour and only have to raise prices by about 5 cents per burger. Plus, if these people were being paid a minimum wage that had kept up with inflation, we wouldn’t be spending a fortune in taxes to pay for them to be on food stamps, rent support, and Earned Income Tax Credits. Keeping the minimum wage at such low levels means that tax payers are subsidizing major corporations that are making record profits. Why should we have to do that?
It’s not true that increasing the minimum wage will raise prices excessively, unless the companies use that as an excuse. Economists say that McDonalds could raise minimum wage level to $10.00 an hour and only have to raise prices by about 5 cents per burger. Plus, if these people were being paid a minimum wage that had kept up with inflation, we wouldn’t be spending a fortune in taxes to pay for them to be on food stamps, rent support, and Earned Income Tax Credits. Keeping the minimum wage at such low levels means that tax payers are subsidizing major corporations that are making record profits. Why should we have to do that?