Comment Re:Just causes inflation (Score 5, Interesting) 96
If we increased everyone's pay by 10% that would just cause all prices to rise by 10% and nobody would benefit.
Not correct - proven untrue - the price of a loaf of bread has risen 1090.48 % from 1965 today - and min wage has only risen 480% - the fact is labor is only a small part of that price increase - and it would take raising everyone's wages by more than the overall productivity increase differential realized before it would greatly affect the price of goods and services. No one bats an eye when the price of a pizza goes up by $1.25 due to the cost of ingredients and gas but somehow a $.50 increase due to labor would be untenable - it's just a lie.