Will the sky fall?

People who object to the idea of a higher minimum wage all use of the same dodge: ” it will kill jobs.” You hear it primarily from those who traditionally hire people at coolie wages and charge prices that will produce the amount of profit they need to stay in business. I personally heard of a business man who declared that if there is any hike in the minimum wage, he will simply close up his business altogether. The question is: would he be missed? Other companies will continue to operate and will still have the same ( or possibly even more) customers to serve, and will need people to perform the work that creates the desired profit at that level of business. The question here is: how much will prices need to to be raised in order to stay in business? How much general inflation will occur? The answer is: nobody knows and don’t let anyone tell you otherwise. All of the dire warnings and “chicken little” predictions are worthless speculation. The notion that low level jobs “will vanish overnight” assumes that there will be no more hotel rooms to clean, no burgers to flip, no lawns to mow, and you name it. Such an assumption is patently false. If McDonald’s disappeared overnight, where would their customers go?

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