What happens when you don't raise the minimum wage for decades, corporations raise prices. Thanks for playing dumb.
How Does Minimum Wage Impact the Economy?
There's no straightforward, fully agreed-upon way that minimum wage impacts the economy. Some believe a minimum wage excludes workers from an economy as a company may not have enough resources to hire additional labor. Others believe a minimum wage increases worker productivity and further benefits a company.
Many believe cost-push inflation is due to elevated input prices. However, there is sufficient historical data to demonstrate that a minimum wage has a minimal impact on how goods are priced.