Except that there's other factors in play as well. A minimum wage increase will give the bottom 60+% of workers more spending power, this increased spending will boost the income of local shops which will help to improve the local economy.
This is economics 101, for an economy to work people have to spend money, the more money that people spend the better the economy works. Increasing the spending power of the vast majority of local residents is a very good thing for the local economy.
Those workers will be spending all their wage increase by having to pay more at, for example, fast food restaurants when prices go up to accommodate higher wages. Or the worker will get laid off completely in an effort by their employer to reduce ever growing costs and to avoid raising prices. In your utopian view of economics you forget that businesses have costs associated with running their businesses. It isn't all profit. So when their labor expenses go up they won't magically see an increase in sales because new sales and labor charges are NOT linked. Someone who makes an extra $1/hr or $8/day won't suddenly decide to buy something new just because of that new found money. If anything they will put the money towards repairs for their 10 year old car or their rent for the month that they are behind on because their child needed new clothes for school.
So all you do is raise the cost of those goods and services and make it harder for minimum wage workers to afford those things. You can't increase the spending power of residents if you just forced them to pay MORE for the same thing they paid $2 less for a week before the new minimum wage kicked in. If you think you can increase spending power that way then you don't know real world economics. You only think you do. What you really know is utopian economics.
Spending more comes from how much one can buy with $1. Giving someone $2 does not increase their spending power. Making goods and services cost less so that more can be purchased with the SAME $1 is what increases spending power. Maybe that simple description is what democrats and socialists really need to figure out just how economics really works rather than how they think it works.
I love seeing this crap in American articles. "Oh Noes! If we pay people more, it will cost businesses more!"
Lets look at this for a second.... Who are a businesses customers? Hint: It's the people who get paid a wage. These people get more money, more businesses get more customers. More customers mean more sales. More sales means more profits.
Is it really that hard to grasp that concept?
You assume the employees getting a higher wage are going to perform better in order to justify that new wage. If they did then their employer would already be giving them raises and, oh, lo and behold, those special employees aren't considered minimum wage anymore (note: that's how the real world actually works). Only the best employees will do that and by the law of statistics the best employees are a small percentage of the employee base. So you are asking for a business to be able to do more work with the same mediocre employees who now get paid more for being mediocre? Why should the mediocre employees do anything more than they did before if they can get a wage increase w/o working any harder than they did before?
And it now costs that business more money to pay its employees. To maintain profit margins cost either go up or employees are laid off. If costs go up then the employees earning more are now still earning the same amount as before if they are now having to pay more money as customers for goods/services that have had price increases. So the net change is 0 for those employees. If people are laid off then those employees whom you thought would generate more sales are now simply receiving food stamps careof us through the federal gov't. Good job!
One part in 10^24 is why having a Creator makes a difference. One part in 10^24 is no accident. And some people still don't what to admit what created the Big Bang but there is no other answer. How much faith does it take to believe all this was an accident?
What about the "some 92 billion light-years worth of space contained in a volume of space no bigger than our own Solar System"? That was a miracle. Accidents don't "give rise to all the wondrous diversity of nuclear, atomic, molecular, cellular, geologic, planetary, stellar, galactic and clustering phenomena we have today."
I think I'm going to create a theory that states if you point a laser pointer at space for a long enough period of time that it will cause more meteors to hit the earth.
Then when the rate of meteorites hitting the earth goes up I'm going to claim my theory was apparently correct.
I'm going to purposely ignore the reality that the meteorite rate could also be due to some other root cause because I need to convince people that meteorites are going to kill all of us and the planet if we don't do something about it.
I just hope that no one comes along who predicts that the rate of meteorite impacts will be just like what I predicted but will explain that the rate has nothing to do with any influence on my part but rather the rate increased simply because of a natural phenomenon. I should be safe though. The media will prefer the fear aspect of my theory, the progressives will be able to use my theory to impose unprecedented levels of control on citizens of my country to better align with other countries that are already moving in this direction of controlling cow flatulence, vehicle flatulence, house flatulence, etc. and evil corporations, which liberals hate when republicans protect them, will be able to make billions off this fake theory, which will make liberals and progressives who receive bribes and donations from the same evil corporations will become rich off it as they continue lying to people that my theory is true.
My theory will be the excuse people need who believe in total control by government. And I'll get rich by receiving money from these my own government and others to continue lying about my data and interpretations in order to counter valid claims my theory has been proven false.