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[–] tothetop 2 points 2 points (+4|-2) ago 

I agree that this will likely happen if the minimum wage is increased. My issue though is why should the owner of the company be protected to make a profit on the widgets while the workers get shafted and have to work a second job or something? In my mind, if your company can't produce the widgets while paying your workers a livable wage, you are doing something wrong. If that company collapses, a different company that can do both will take its place if there is enough demand for the widget.

In my opinion, this draws a lot of attention to things like overseas manufacturing that drive the price down. It's good for individual consumers because they can purchase things for cheaper, but it drastically reduces the number of consumers in the US that can spend money.

It seems like a society where more people can buy widgets sold on a smaller profit margin is better than one where fewer people can buy them on a larger profit margin, and both would theoretically result in profits for the company.