ELI5 If the US raises the minimum wage to $15/hr, what's keeping inflation and/or cost of living from skyrocketing?

In a depression, inflation goes up. But if the lowest income earners suddenly double their pay, won't this negatively effect inflation too?

submitted by attilatheham to explainlikeimfive

[link] [499 comments]



from reddit: the front page of the internet http://ift.tt/17MekEf