If $15 were the minimum wage, prices would almost triple, canceling out the effect.
No, prices would only go up by a very small amount. Aren't you right-wingers always arguing that not that many people live on the minimum wage anyway?
Besides, whatever increase in prices did occur it would effect not only the working class but also the rich, therefore the net result would be redistribution - excellent!
Strongly disagree.
Maybe I overestimated. But, I might add, that your theory sounds absurd. If $15 were the minimum, a great many jobs would be automated or exported out of the country, and many businesses would understaff in an attempt to keep prices down.
Plus, I don't think redistribution is a desirable effect.
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