>A study by the Congressional Budget Office (CBO) estimated that a $10.10 minimum would increase incomes for most poor families, moving 900,000 people above the poverty line
America has 45million people living in poverty
45 million is 50 times more than 900.000
A minimum wage 50 times higher than 10.10 (505) would thusly eliminate poverty in America
>900,000 people get raised above poverty line
>companies increase goods because people have more income
>900,000 people go back under poverty line
>inflation is now increased
Le epic me-me ya gots thar XDDDDDD
That wasn't so hard, was it?
wont happen the jews who run your banks are taking that money senpai, good luck getting that to happen when the jews who are the 1% wont let it happen.
How will they increase goods if they have to pay their workers 505$ per hour?
I think he meant increased prices for goods.
Prices will increase but everyone will be able to pay for it since they aren't poor anymore and companies will eventually decrease costs again through mechanization
>>companies increase goods because people have more income
This is true in the abstract in the same way printing more money doesn't make more money. But we also know in practice it isn't that smooth. There is lag and overlap between competing interests.
If it were this simple we'd also see much cheaper housing and living costs, instead they are going up, while wages adjusted for inflation are stagnant for all but the upper 1%.
Your reductionist view isn't how it works either and you're literally shilling for the corporate scum that's jewing you out of home and business.
Pretty simple, isn't it?
>People have more money but only because of government interference
>Companies now have to pay more, which means to compensate they have to raise prices to pay their employees
>Things level out and nothing has changed, the poor is still poor and prices are high, only difference is that more people are out of work because higher wages means less workers
Everything relatively stayed the same and only got worse, learn economics