A movement is afoot to demand a $15 minimum wage, both at the state and federal level.
If it happens, it will mean a better life for many, but will it be a disaster for many as well?
How will businesses respond to a minimum wage that's roughly double what it is now? I suspect this is what we'll see:
1) increased streamlining of workplace processes and the use of workplace technologies to replace workers or make workers work faster, resulting in...
3) greater use of part-timers.
4) a ripple effect of increased prices across the economy, affecting those employees who keep their jobs as well as everyone else.
Still think an increased minimum wage (a living wage) is a good idea?
The minimum wage is really intended for people at the bottom of the pile. Teens, still at home, working part time while in high school or retirees just wanting something to get them out of the house along with a few bucks to supplement their small retirement/Soc Sec income. That's what it has been, but with the shitty economy, single parents and people with college degrees and mortgages to pay have been driven into those positions. The solution isn't to raise the minimum wage to $15, it's to fix the economy so that those minimum wage jobs are opened back up to those who don't really need the money that much. The teens and retirees. $21.16? Bwahahahaha!!!
Well, unfortunately I suspect that if some sort of mechanism were legislated (about as likely as an unexpected solar eclipse), the Supreme Court would find it unconstitutional.
If anyone is still interested in this subject here is a link to a recent Intelligent Squared debate on just this subject. Enjoy: