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[–] joncash 1 point 0 points (+1|-1) ago 

Of course people will be willing to pay more. I don't understand why people don't understand supply and demand. McD's customers are largely minimum wage earners. So while they'll pay more for their employees, their customers also have more money and will pay more. This is how inflation works.

Either minimum wage increases earnings therefore increasing prices because people have more money, or minimum wage doesn't increase earnings in which case what the fuck are you doing?

[–] [deleted] 1 point 0 points (+1|-1) ago 

[Deleted]

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[–] joncash 1 point 0 points (+1|-1) ago  (edited ago)

Which is why people making minimum wage will continue to buy it at a higher price since they made more money. Superior goods will raise their price as well since their costs went up and the people buying their products are more elastic to begin with. Any way you look at it, prices will go up because of minimum wage.

*Edit: I don't understand why people are so stupid about minimum wage. If you increase the money supply in an income bracket, products made for that bracket will increase in price. IT'S SIMPLE DEMAND.