Every time anyone says that corporations can afford to pay a higher minimum wage to its employees, you have every Republican in the world scream why this is a terrible idea. They always end up at the same old argument of “it will cost jobs and raise prices.”
The suggestion that a wage increase would be impossible due to increased labor and goods costs is a complete lie.
It’s just not true. Historically speaking from decades passed, and all the way up to the current day, any place that has a higher wage tends to have higher employment rates due to sustained higher consumption creating a need for work to meet demand.
In practically every case, an employer could pass on the costs of a wage raise to $13+ per hour COMPLETELY in the cost of its goods and services, and the noticeable cost to a consumer would be practically non-existent. Walmart is probably the worst offender, as far as low wages and massive profits go. Using them as an example, this quick and brilliant video completely destroys any attempt to suggest they and other employers cannot afford to pay their employees enough so they do not need food stamps.
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Watch this fantastic video that explains exactly how a living wage is something we can ALL afford.
Featured image via screen capture