Everywhere across the US, fast-food, airline industries, and others have been participating in walkouts geared towards a demanded increase in minimum wage to $15.
This could have some detrimental domino effects. If minimum wage is increased, all wages will increase. Not only that, some other things will also be affected. If minimum wage is raised to $15, the average fast-food worker will be making no less than $23,000 a year, and that will be part time. (That number is based on a part time schedule at 52 weeks.) With that sort of increase other employers will be forced to raise the wages of their workers who are not working for minimum wage, but are now making less than minimum wage. I understand, life is hard. Especially when it comes to providing for a family, but so many factors will have to go into this increase that not every side seems to be understanding.
My biggest fear is the complacency within all of this. With a salary like that, it’s enough to live off of. Why even bother attending college? The average graduate today doesn’t know what he/she wants. The “you are going to college” doctrine is something instilled in us beginning in Elementary school. For someone who has no idea on what they may aspire to major in will have another incentive to not go to college. It’s been more of an emphasis of “what you can afford” than “what you can learn.”
Without a beat for sure, if minimum wage is increased, goods will increase as well. What was once $1.00 will now be $2.00. This may not sound like much, but the numbers will add up before you realize it.
I’m not saying I oppose the increase of minimum wage. I would actually prefer it. In a perfect world, only minimum wage will increase, and everyone making that wage will be able to live similarly to how those above the minimum wage live. In the world of Business, we all know that plan will not work.
If you want to read more of the story, I have provided a link here.