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Every time the wage raises, the costs of goods and services go up to cover those wages.
LeopoldBloom · M
@NativePortlander1970 However, because of economies of scale, the increase per product is negligible.
@LeopoldBloom I'll give you a very recent example of a noticable price increase. When I moved to my current apartment I bought a small low to the ground flat cart to help me move my things, I now currently use it along with a 20 gallon tote for groceries and laundry, in April 2020 it cost $30.99, the other day I was at Walmart to pick up a few things and saw it was now being sold for $51.46. In April 2020 my monthly supplies cost around $75.00, the very same items I get each and every month now cost over $140.00, that is not nefligible, that is significant.
LeopoldBloom · M
@NativePortlander1970 Those increases are due to inflation, not a higher minimum wage. So I'll clarify, the effect of increases in the minimum wage on the cost of products is negligible compared to other effects.
@LeopoldBloom Bullshit, those increases were due to Walmart, McDonald's, Wendy's, Subway, Target, etc., having to raise wages to keep employees during the plandemic. We lost FIVE casual restaurants in this small city of 27,000 where I currently live because they lost patrons due to their increased costs due to raised wages