We may lose a few jobs at first, but the increased spending would create more better paying jobs in a very short time IMO.[/quote]
Actually no.
This “increased spending” from the higher-paid workers is coming from where? The higher payroll outlays of employers who must pass it on to customers via higher prices. So consumers spend more at the impacted businesses and thus less at other businesses. The lost jobs at those other businesses are part of the full impact.
A beautiful example of the seen vs the unseen.
