I have recently seen some discussion of what would happen were the minimum wage to be raised in these USA. Here is one interesting take, that includes some links to other articles that are worth pursuing.
From Truth Revolt:
On Friday, The Daily Signal released a graph demonstrating the full impact of what would likely happen if a $15-per-hour minimum wage went into effect across the country.
The graph stems from a report by James Sherk, senior policy analyst in labor economics at The Heritage Foundation, which demonstrates that top fast-food restaurants like McDonalds and Taco Bell would have to boost prices by 38 percent to make up for increased labor costs. Suffice it to say, the before and after price differences are staggering.
I don’t eat at these places very often. Once in a while when I am traveling I’ll swing into a place for a burger of some sort. So, it’s a rare stop, but I do use them. As I was looking at those price changes, however, my first thought was, “Sheesh, if those are going to be the prices, I think I’ll just pick a nicer place to eat that has better food!” $9 for a sub? Are you kidding me? $9 for a Whopper? Are you out of your mind?
I’m no economist, but it seems to me that, if this goes into effect, these stores are going to lose a lot of customers and, eventually, there must – as night follows day – be a huge loss of jobs for both young people just getting into the work force and even from some older folks who want to make a buck. Revue goes down be cause of fewer customers, but wages skyrocket because of the minimum wage. What does that mean? These stores will cut their staff and stop hiring. Everyone loses.