Should the government raise the federal minimum wage?
No, this will only cause prices to increase in a never ending cycle
by raising the dollar, companies raise prices, you ever caught yourself looking up," how much was $*** in ***", well thats because minimum wage went up, leading to the value of our dollar going down.
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Increases in minimum wage have historically had only a very small effect on overall prices, and multiple factors beyond wages, like monetary policy and competition, influence inflation. Additionally, a higher minimum wage can boost economic growth by increasing low-wage workers' spending power, which stimulates demand and benefits businesses.
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The value of the dollar does not decrease due to the minimum wage going up; prices continue to rise while the minimum wage stays stagnant. Inflation comes from the greed of corporations recognizing that they can raise the prices on their goods, and people will still buy them: supply and demand. Companies raise prices due to corporate and government greed; the raising of minimum wage is just to keep up with this ever-climbing desire for wealth.
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