If they keep raising the minimum wage, they should freeze prices. It doesn’t do any good to pay a slack jawed pot head the same as someone who is an outstanding employee either. Minimum wage could be $1000 an hour but a gallon of milk would cost $450.
So true. As they increase it the businesses pass the increase onto the consumers. Plus if you pay entry level $15/hr you would have to raise the salaries of your top employees. People end up making more on their paychecks but it is a illusion, they really have not raised their wealth.