> What is the federal minimum wage? Who benefits from it being $7.25 an hour? Not the common people
Source on that. Higher federal minimum wage causes low profit, manufacturing jobs to move off shore. The higher the federal wage the more automation becomes a higher ROI. The more those in poverty have to spend, the more competition for scarce resourcing (e.g. housing), and the more housing inflates in cost.
Simply raising federal minimum wage doesn't necessarily benefit all.
Source on that. Higher federal minimum wage causes low profit, manufacturing jobs to move off shore. The higher the federal wage the more automation becomes a higher ROI. The more those in poverty have to spend, the more competition for scarce resourcing (e.g. housing), and the more housing inflates in cost.
Simply raising federal minimum wage doesn't necessarily benefit all.