This is an argument used for decades to justify NOT raising the Federal minimum wage. The problem with this argument is that in the decades in which it's been used prices have gone up while wages have remained stagnant. So, there can only be two types of people who still truly believe this myth. The first type of person who believes this argument, is an ignorant individual who chooses to believe what their leaders say without doing any research or even looking at the reality of the world in which they and their lives ones live. The second type of person who believes the increased wages/increased prices argument is a stupid person who's researched the causes and effects of not increasing the minimum wage against the increases of prices and continues to accept the narrative put forward by those leaders making this claim and those who fail to refute such B.S..
Something else to consider is the power that people have let slip from their collective grasp since the lockdown in America. While none of the national leaders in America could get the minimum wage raised since the 80's, a virus (COVID-19) succeeded in doing just that. The likes of McDonald's, Wendy's, Aldis, Taco Bell and more offered well over the Federal and State minimum wage in an effort to keep their consumers fed. And, while their prices did go up, it has nothing to do with increased wages. Prices went up because the US Government printed trillions of digital dollars from thin air and gave most of it to the rich who hoarded it because they did not need to spend it.
Imagine if the Government gave the majority of those trillions of digital dollars to the poorest amongst us. The poorest amongst us would had to spend that money to survive, so it would have circulated through the economy, Now, that money would have inevitably ended up being horded in the coffers, but in between being printed from thin air and hoarded, that money would have stimulated the economy. The way the U.S. Government did it, however, skipped all of that stimulation of the economy part and went straight into some rich guy or gal's pocket. Is that stupid or what?
The Regaining American Democracy (RAD) dictionary word or phrase of the day is;
A person, group, organization, state, nation or entity that adheres to a zealous belief in a currency that is backed by nothing but decree or the threat of violence.