Many studies have shown that raising the minimum wage (especially from a low level) doesn’t affect inflation at all. It actually may help the economy, since people buy more when they have money.
The marginal cost of making extra goods is very low. Food or appliances cost like a third of what they sell for, depending on where you buy them. So some extra wages for the person that makes it is not a large part of the cost. Distribution marks it up.
That’s not how any of that works.
Many studies have shown that raising the minimum wage (especially from a low level) doesn’t affect inflation at all. It actually may help the economy, since people buy more when they have money.
The marginal cost of making extra goods is very low. Food or appliances cost like a third of what they sell for, depending on where you buy them. So some extra wages for the person that makes it is not a large part of the cost. Distribution marks it up.
I was about to comment with this exact same line. This person doesn’t understand economics.