Quote:
Originally Posted by Undertoad
Sorry, it's an annoying line of conversation, online. I will shorten the transaction.
In your budget, what would you now not pay for, in order to eat there?
It's because you said, "Instead, I think they will just pay the new minimum wages, and move on."
I think the "move on" part is unacceptable. That's what a lot of this thread is about. Can't just throw away one side of the equation.
Now you have paid $10 more for your ribeye at Texas Roadhouse and your server was well-compensated. So far so good. But you can't just "move on", because now there are $10 fewer dollars in your billfold. So, what will you now not pay for, now that you have paid more for a steak?
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Now that the waiter, et al, have more money, they will go to Lamplighter's Emporium and buy $10 of his stuff. Yes, it's a shell game, but results have shown that
unemployment is lower when the minimum wage is higher.
The way it should work is that if you make more than $3ook (let's say), you don't get to charge more. You just make less, until you get to the point that you make less than $300k. Then you can raise prices. Should.