What would happen to our economy if minimum wage
Was raised
Simple offer and demand.
>People get more money
>More buying power
>Loss of value for your currency
>Prices raise
>Dollar goes down
>Enterprises must pay their employees more money
>Either budget cuts or transition to workers that don't require as much money. (I.E. Going to India, replacing some workers with machines.)
In the end, it would fuck up your economy. What should be done to fix the "Muh, poor people can't live off the minimum wage" is create more social programs toward them, make the rules more strict to avoid leeches and there you go.
>>61073942
I'm no economist though, simply going with what I'd call logic.
Depends on how high, in relation to the Mexican minimum wage, the Canadian minimum wage, the Chinese minimum wage and inflation.
In general, the rich will stay rich, the poor will stay poor. Shit will be more expensive, and more illegal aliens will work for under what the new minimum is.
>>61073624
Inflation
>>61073624
Pretty sure this is bait, but learn some basic economics you monumental fuckwad.
Literally fucking nothing.
Republiturds are retarded
>>61074298
Ignore this bait.
>>61073624
Ideally, people with more money consuming more, which in turn creates more jobs. Fewer people on food stamps and also paying taxes means everyone else gets a tax cut... or there's more government money for better things in society.
>>61073624
You make it illegal to work for anyone whose job is worth less than your minimum wage.
>>61074281
First level of ignorance in economics is zero knowledge.
Second level of ignorance in economics is the belief that theories are directly applicable.
Several meta studies have found that minimum wage bare affects job market you can find any of them by typing minimum wage unemployment study to Google search.
