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comment by Kafke
Kafke  ·  3890 days ago  ·  link  ·    ·  parent  ·  post: Some thoughts on minimum wage

Honestly it seems to be a chicken and egg problem. Increasing minimum wage increases the amount companies need to spend on employees. Which makes their required income to be higher, which then causes them to raise prices. Now we are back to where we started, but with higher numbers.

It seems ultimately futile to try and solve the problem of being unable to afford things by giving every single person extra money.