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Originally Posted by EldrickOnIce
Dont disagree with you last at all. Just saying that higher wages = increased taxes and increased consumer prices, in theory.
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Well Resolute was kind of on point as well.
There will be a redistribution of 'wealth' but not in the way they think there will be.
The first thing that will happens is a bunch of minimum wage earners will be fired. Staffing requirements will dramatically decrease. McDonald's and other fast-food chains have already implemented an electronic ordering process to remove front-line staff.
The ones that are left will likely experience reduced hours and hiring will probably dry up entirely.
So prices are going to go up, service is going to get flushed down the crapper and a number of people who were earning minimum wage will now be earning nothing at all while others will earn more.
Problem solved!