Raising the minimum wage causes prices to go up?

[Benton D Struckcheon]

11. There is no trade-off, on a macro level

That's because of the "propensity to consume" the add'l dollar, which is extremely high for low wage workers, for obvious reasons. As that add'l dollar is spent in places where low wage workers work, like Wal-Mart and 7/11 and so on, those places would have to balance the add'l demand against the add'l expense. I'll bet it easily cancels, if not leaning towards hiring more workers to meet the demand. Productivity improvements would of course be made, but you can only stretch that so far to meet the increased demand.