I am tired of the argument that if we raised the minimum wage, then prices would rise

I am tired of the argument that if we raised the minimum wage, then prices would rise.

So, you are telling me, that Walmart product managers are simply restraining themselves from raising prices because why? So instead of selling something for $10, they could sell it for $11, but they will not because the cost of labor is low?

Walmart is a business, and a brutally efficient business.

It sells as much crap for the highest price for the least cost.

The minimum wage has almost nothing to do with the price on the goods.

Originally posted on Facebook on January 17, 2014.