Yes, I recant what I said about consumer spending isnt affected by inflation. What I intended to say is that raising the minimum wage is not related to this.
Ugh...When costs to business are increased by artificial means, there is a direct adverse effect on the the end user.
This "artificial means" is just this same bullshit you people spew. Corporate profits are at an all time high yet wages have remained stagnant. It doesn't matter who raises the minimum wage, government or the businesses - there is nothing artificial about it.
The corporate profit argument? You're on that one now....Great. Still meaningless.
The fact is wages are NOT stagnant. Wages are down because the labor participation rate is at a 40 year low.
The other fact that there are far more part time workers. That drags down the numbers.
There are more illegals working in the US...That has lowered average wages in the unskilled and semi skilled markets.
Hiring is down because jobs that are now done by computers and machines no longer require humans.
Wages are down because cash strapped businesses are using temp instead of employee labor.
It's the marketplace which has adjusted to government policy and taxation....
One issue you libs ignore is that corporations are publicly traded companies. As such, the bottom line is the bottom line. If the performance of the company causes the value of the stock to fall and render the company no longer a good investment, the company falters and the workers are the first to go...
This is basic stuff.
And yes. When government sticks it nose into the marketplace for political reasons, the act is artificial.
Anytime government has interfered in the marketplace the result is always negative.