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Politics : Formerly About Advanced Micro Devices
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To: RMF who wrote (890659)9/30/2015 1:53:33 PM
From: TimF  Read Replies (1) of 1575426
 
inode already covered the main/best response with - "Sure, it is hard to tell that guy but try telling him he lost his job because his labor isn't worth $15/hour."

Which can also apply to that guy, who might lose one or more of his jobs.

But to the extent that the relative elasticities of demand are such that the main impact doesn't hit the worker, then it will also hit him as a consumer. Higher costs put upward pressure on prices.

To the extent that more demand is created (which is questionable since your just the employer and fired or never hired workers/potential workers lose what the people who keep their jobs and make more gain, but that seems to be part of the justification, or even part of the motivation, for some people's support of higher minimum wages), then yes housing will also be affected.
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