Increasing the minimum wage means more people have more money money to spend (there are more potential customers); which means more goods and services are purchased; which creates more jobs. It is ultimately better the economy. There is not a single product that will increase in price because people are earning a few dollars more per hour. I'd say it's more rational to believe that prices will drop as there will be more customers to compete for. Merchants generally don't know the salaries of their customers.
It will also lessen payday loans and the reliance on credit cards.
looks like higher education failed you as well, ethic. I am sorry.
Let me spin this around a bit and give you an example that directly effects me (but positively!). Do you know what the highest expense for a retailer is? in this instance a grocery store, supermarket, Kroger, target, wallmart, etc. Payroll - payroll is the biggest cost. Chicago is on track to have a $15/hr minimum wage in a couple of years. These retailers know that the only two ways to handle this increase is to A. increase the prices on their goods or B. do something to manage the increased payroll. And many are going with option B. And that mainly involves rolling out self checkouts to their stores. There isn't a kroeger around Chicago that doesn't have at least 6 of them. Many have 10-15 of them. I just opened a store in the Chicago burbs with 30! yep, 30 self checkouts. Business is booming, baby!
I'm sure you've seen it to. Not only in retail stores but in fast food places also. self serve kiosk are everywhere and the main reason for that is minimum wage getting higher.
Walmart's plan is to have 80% of all transactions go through self checkout by the end of 2020.
Just a few years ago Target vouched to never put in self checkouts - and now you will not find a store without them.