New Yorkers Shocked To Find Food Prices Rising After Minimum Wage Hike
New Yorkers shocked to find food prices rising after minimum wage hike ...
Doc7505, your link, Hotair.Com is described by a number of other website's as another conservative blog. I will not speculate regarding its credibility, but I can try evaluating their opinions through my own observations, experiences, logic and prejudices.
Increasing minimum wage to some extent increases costs, but its not among the primary causes of consumer price index, (CPI) increases. Of course it will have a much greater affect upon restaurant rather super-market prices, because low wage labor are a greater proportion of fast food restaurants' costs per dollars of sales.
Minimum wage rates affect all wage rates to within the areas and their extents of enforcement. Its of greater net benefit to low-wage, and of lesser benefit to higher wage earners'; it bolsters all wage scales. Minimum wage rates of critically greater benefit lowest income families.
I'm a proponent for increasing our federal minimum wage rate by 12% annually until it achieves 125% of February 1968 purchasing power; thereafter the rate should be annually monitored and adjusted to retain that purchasing power.
Respectfully, Supposn