you ever run a business? theres something called "budgeting". and the whole idea with running a business is that it produces something called "profit", but it costs money to run a business. you often need to hire people to work for and with you as to provide goods and services to customers. but the catch is, you have to pay people to work for you. sucks right? well, the more you have to pay the people who work for you the less profits you're going to make.. the less money you make as the business owner. so what option do you have if you're being forced by the state to pay a minimal amount per hour? you raise the costs of your goods and services. the problem with that is, the sorts of people you're hiring are the same exact people that are often your customers. they do are making minimum wage. and so what happens is something called "inflation" where money becomes devalued. it becomes worth-less. and it creates a situation where everyone ends up proverbially spinning their tires in the mud. the workers believe theyre going to struggle less by being paid more, but they end up having to pay more for various things... get paid a little more, get charged a little more.. you keep doing this and what happens is something like out of the movie idiocracy. everyone is "rich" in that they seem to have a lot of money, however the general standard of living doesnt rise along with minimum wage.. the standard of living stays the same or gets worse.. which is evidence of raising minimum wage not being a real solution. hope this helps, kiddo!
United States