Can you give a source on this one, you state it like it's something obvious and studied but I don't follow? I'm curious how this policy doesn't result in increased off shoring in a world where USA doesn't control 100% of resources, and a theoretical world this would result in inflation normalizing against the increased monetary supply.
Looking at a few studies online, it seems as though there is no long term correlation between increasing the minimum wage and inflation.
Just so it's clear I think if there is a legal solution to this it's on taxing the high end of incomes, inheritances, and capital gains, not the low end.
If there were a long term inflationary effect, then industries particularly sensitive to minimum wage costs should have significantly higher prices in Australia compared to the US. That doesn’t appear to be the case; perhaps they absorb the additional costs in the profit margin. It can’t have no effect, but it’s clearly not as simple as you were implying.
There are offshore clothing manufacturers that arrange the clothes on racks and pack them in the containers.
Once the package reach the destination they do directly on display. This "saves" the company from having to pay someone higher wages for arranging clothing displays.
The companies will always chose lower costs wherever they can get away with.
In NC, where I live, the average wage for an entry-level crew member at McDonalds is $12.16, effectively 20% lower than the original purchasing power of the 1996 minimum wage.
https://www.indeed.com/cmp/McDonald%27s/salaries?location=US...
This does not include those in tipping industries where they are allowed to have a base pay of under the minimum wage.
I stand by my claim that (essentially) nobody is working for minimum wage in 2024.
like they work 4hr/day and accumulate ~1000 hours/year and then work off w2-payroll