this post was submitted on 08 Jun 2024
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Economy

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[โ€“] themeatbridge@lemmy.world 20 points 4 months ago (1 children)

Everyone. Everyone benefits from a higher minimum wage, because it places upward pressure on wages. Employers are forced to compete with McDonalds for labor, and everyone ends up getting a raise.

I say "everyone" but of course that isn't entirely true. But the people who don't benefit are statistically insignificant. It's like saying "I ate all the rice" because you at a bowl of rice, but one half of one piece of rice got stuck to the rim of the bowl. That's how few people don't benefit from higher minimum wages.

[โ€“] DancingBear@midwest.social 1 points 4 months ago

It is everyone who benefits.