2014
Frankly I don’t know the answer to that question and based on the competing views by the so-called expert economists, neither does anyone else.
However, if you go to a fast food restaurant and a burger costs $2.50 and they are paying most of their workers $7.25 an hour and then their pay goes up nearly 140% to $10.10 what happens to the price of the burger? Remember, the hourly cost does not just go up by $2.85 because employer taxes on the increased wage also increase. Social Security and Medicare taxes add another $0.22 an hour.
Given there is a slim margin on each burger, it seems the price of the burger must increase to keep that margin and thus maintain the same profit level.
But wait, if you raise the price of a burger, will that impede your competitive position? The quick answer is yes, but then we must consider that all other burger joints are in the same position paying higher hourly wages. Now what? Each restaurant wants to keep profit levels so we pay more for a burger at every restaurant or 😯😯😯 each restaurant finds a way to cut other costs directly affecting workers or not.
💲💲💲And then there is this; how will the workers (presumably in higher skill jobs or longer tenure on the job) earning $11.00 or $12.00 an hour feel if those below them receive a 40% raise?
No matter where you come down on raising the minimum wage, it’s hard to deny that a 40% increase in pay will have a cost somewhere along the line. There must be consequences to forcing higher wages beyond those the market dictates. That may be fine, but people should understand raising the minimum wage is a lot more than being fair to low paid workers.
In addition, numerous studies show little positive impact on the poverty level and also a small percentage of workers receiving an increase in the minimum wage actually come from poverty level households.
QUINNSCOMMENTARY 
I cannot say it more plainly than this:
Enjoy, Mr. Quinn!
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I would hope you could do better than this obnoxious phony who has a net worth of $23 million and benefits from tax subsidies through buying a partial interest in the Mets. Hey, raise the minimum wage, make low wage workers temporarily better off, but remember they are still low skilled workers among the lowest paid in the US. Unless they change their skill level they are going nowhere.
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Tell me how they can change their skill levels while they remain in subjugated poverty under the heel of the 1% at hourly wages below the “poverty level”? Your taxes will continue to subsidize the livelihoods of employees of many very profitable corporations until things change in this nation. Is that what you want? Do you want our government to continue to feed and clothe the employees of highly profitable Wal-Mart, McDonalds, et al.? Do you want a nation of only Lords and peons? Do you support the TPP which is “NAFTA ON STERIODS” and further grinds our middle class citizens into the mud? And, tell me how an “obnoxious phony” attains a net worth of $23 million? I thought you conservatives believed that “the 1%” were wealthy because they worked harder than the poor people in our nation? Not because they are “phonies”. Google “phony” and you will see a pictures of Mitt Romney and Mitch O’Connell. When someone tells it exactly like it is, it hits you pretty hard, doesn’t it? George Carlin’s truths would make you cry like a baby. You seem to know healthcare, but you should really refrain from political commentary to preserve the authenticity and reputation of your blog.
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Do you realize that the 1% starts at those earning about $300,000 a year, people hardly in a position to subjugate anyone. Do you not see any personal responsibility for anyone, but rather only blaming others? Maher is an entertainer who is entitled to earn his wealth while adding questionable value to society, just like many other celebrities. He is a phony because he champions his version of equality from his comfortable position on high. I started working after high school at $1.49 an hour when the minimum wage was $1.15. I managed to change my skill level and build a career through perseverance and time and a distinct dissatisfaction with my state in life. What is stopping anyone else from doing the same?
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Well, “atta boy”, Mr. Quinn, but that was a very long time ago and things have drastically changed that are far beyond your current comprehension. Don’t worry about becoming senile because, when it happens, you won’t realize it.
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