- August 6, 2020
- Posted by: Jeffrey Summers
- Category: Minimum Wage
The money to pay for an increased minimum wage can only come from four places:
- other minimum wage workers, in the form of layoffs and reduced hours;
- higher wage workers, in the form of static or reduced compensation;
- investors, in the form of lower profits; or
- customers, in the form of higher prices.
Most often it comes from other minimum wage workers.