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If we raised the minimum wage to $15 an hour, millions of people would lose their jobs and inflation would be inevitable, rendering the raise absolutely pointless. Take an economics class (or just use common sense).https://twitter.com/kamalaharris/status/998346886120706048 …
Nope.
People are employed out of need. It’s not charity. If they employ 100 people at $10/hr they’ll need at least 100 at $15/hr, too.
But with more people making more money, demand would likely increase & the company would have to hire more people to meet demand.
#economics
Any companies that can afford automation would do it for $7.25 an hour or $15 an hour. $7.25 per hour, 40 hours per week, is $14,500 per year, plus payroll taxes, etc.
While I like your thought process, it is only partially true. Anyone who operates a company does so on a budget. Said budget may in fact allow the employer to take on those 100 employees at $10, but less at $15. Employers do what they can with what they have.
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