you can't keep arguing such economic nonsense.
when things get more expensive at the margin people switch products.
the question is how far over on the curve they go.
maybe they go from a sitdown chinese restaurant to a counter /take out type.
maybe they eat at home.
when the dopes raised taxes on luxury boats... they put a segment of boat builders out of business.
taxes have consequences... we don't live in a leftist fairy tale land.
when things get more expensive at the margin people switch products.
the question is how far over on the curve they go.
maybe they go from a sitdown chinese restaurant to a counter /take out type.
maybe they eat at home.
when the dopes raised taxes on luxury boats... they put a segment of boat builders out of business.
taxes have consequences... we don't live in a leftist fairy tale land.
Why would my competitor's product be cheaper if he/she has also given raises? And if he/she has cut staff to preserve margin will customers who go there get a burger or a long line?