Additionally:
Because in the end wages paid are a part of the end price of a product, minimum wages raise the price of products, thereby raising the cost of living for everyone (or reducing the buying power of everybody, leading to a demand for even higher wages, without generating any real improvement of living conditions for anybody in society)
Exactly. Especially small businesses who don't have the money to pay such high wages when they're first starting out, they're forced to make their product or service even more expensive.
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