Brian K. Stephenson
I really don’t think the difference between raises that people make and prices increases are proportionate. There probably is some correlation, but it’s not a show stopper. If a $15.00 minimum wage is unrealistic, the minimum wage should at least get raises tied to inflation on the upside (if we have deflation, they get to keep their higher wage). I really feel that this is the biggest problem; if you take wages from the 1950’s and compare prices, then extrapolate it out to today, people should be either making much more that we currently are or prices should be much less than they currently are. If today’s economy were equivalent to a 1950’s economy (add in all of the technology developments between then and now), businesses would be making much more than they are currently.
If manufacturing jobs were returned to the US, yes I would expect prices to rise. I think the grand idea of outsourcing manufacturing and jobs was to not only save money for the manufacturing company, but also help our economy by selling more affordable goods, somehow that has backfired and we are now hurt by the cheaper goods we sell here.
We can’t concern ourselves with what China or other developing countries would do if we found another way to get our goods and services, it’s our right to decide how that’s done, whether we tariff goods coming into the country to be sold here, or if we manufacture them ourselves.