LogFAQs > #891639090

Balrog0 posted...

Price increases in grocery stores alone offset at least 10% of the nominal income gains of the poorest households.

i don't really see this as an issue so long as it's not offsetting >100% of the nominal income gains of said households

i think we can generally recognize that certain product areas with ultra-low profit margins are so inelastic that goods prices are forced to rise when labor costs are forced up by regulation

but so long as this benefits all minimum wage categories, including products whose primary consumers aren't poor, the net effect is a progressive wealth transfer

also goods with larger profit margins, that are more elastic, are also sold by minimum wage workers and cannot simply hike prices and call it a day--the risk of reduced sales would hurt the company more than giving up the profit.
---

And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not.