Those liberal arts degrees should be replaced by business degrees for Washington politicians. Anyone who has even taken Econ 201, which is a must for a Business degree and those with a major in Econ knows that if you raise the cost of any of the factors of production- prices will most likely be raised. All the taxes on businesses coupled with more regs and mandates and 15 an hour =’ s higher cost/prices.
You are 100% spot on with the economics! It amazes me so many liberal government policy experts have Economic degrees. They must teach that in Econ 601
What is often ignored is employers must raise the wages of the more skilled and/or more experienced workers.