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View Diary: Obama could give these striking low-wage workers the raise they need (26 comments)

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  •  And the bids would go up. (1+ / 0-)
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    Whatithink

    But there would be no more money to spend w/o Congressional approval, so something would have to be reduced (perhaps the hours the facilities are open for example) or revenue increased for those services that derive direct income (perhaps the price of a salad would increase by 30%).

    It is unlikely that the bids wouldn't go up at least some portion of the wage increases. After all, the bidding process is already competitive, so ridiculous margins are already squeezed out - at least in theory, and that's the theory you are relying on for your analysis.

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