Monday, December 29, 2008

Minimum Wage Increase - Real World Consequences

We've got a guy who employs a lot of people making minimum wage.

And what is the impact of a 41% increase in the Arizona minimum wage since December, 2006?

Raising prices as much as his market can stand. Replacing people with automation. Replacing older full-time staff with part-time young people.

  • Higher prices
  • Automation
  • Job loss.

I don't think this is quite what the people who want to jack up minimum wage have in mind.
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