Minimum wage is not great!

[Isogallardo]

If it is so great, why are people still living in poverty and the not solve the unemployment issues?

 

[Leongsam]

If it is so great, why are people still living in poverty and the not solve the unemployment issues?

Minimum wages solve nothing because every time the rate is increased, business costs go up and that causes prices to go up when businesses pass on the increased wage overheads to the consumer.

The graphs would be applicable to NZ as well. The minimum wage here has more than doubled in the last decade but it has done absolutely nothing for the standard of living of the lower income group because costs have risen in tandem.

 

[xpo2015]

I thought USA just started Min Wage recently to address the Poverty Situation in the country?