Saturday, April 18, 2015
THERE REALLY IS NO PLEASING PEOPLE
I'm pretty sure that everyone has heard of the protest to raise minimum wage to $15 dollars. I just read one of my peers' (a few blogs below mine) about minimum wage being raised and I really don't think that would be smart. I agree that there are serious problems in our economy today, but raising minimum wage would probably be the worst idea possible. There is a poverty issue and I am not trying to sound heartless, but if minimum wage is raised then so will everything else. If a person that gets paid hourly pays attention to their check stubs, depending on how many hours you have, the more you make. This is definitely a fact… but the more hours, and more money, also comes more taxes you have to pay. The economy is not going to be fixed by the government just throwing money to employees of hourly wage jobs. If the minimum wage is raised to $15/hour then you will be paying more taxes and potentially taking home a little more, if not the same amount. People will be out of work because they will now have to pay one person what they were paying for two employees. ($7.25+$7.25=$14.50 < $15). There really is n pleasing people because no matter what happens there is going to be someone complaining about something. There is not a way to change ONE single thing in the economy, unless everything became free, that would satisfy everyone in the U.S.
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I agree with you. It is not fair that those who work minimum wage jobs only get paid $7.25 but it's the laws of economics that if the minimum pay increases, then the prices people pay increase. So, hypothetically, if the government forces the CEO of McDonalds to pay his employees double what they make now, then the laws of economics say that the price of, say, a BigMac would double. This doesn't fix the problem, it really makes it worse and will inflate the cost of living; which is already too high in some places and on the rise in others.
ReplyDeleteI agree with both you and Rachel on this topic. Raising the minimum wage would ultimately raise the cost of living as well. I do believe, however, that the cost of living will go up even without a raise in minimum wage and therefore it should be raised at least somewhat every so often. I do not think that it should be raised by such a high amount though because, like I said before, the cost of living would dramatically increase. The amount of money workers would therefore actually make respective to the cost of living would not change all that much.
ReplyDeleteIve never thought about minimum wage in the way you have potrayed it in your blog. If you ask me there will never be a true way to help people leave who make or don't make minimum wage. As sad as it is the economy has to have improvished people in order to prosper. So, I agree with your opinion to not incresase wages and keep things the same because either way improvished people will still be trapped.
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