Like many people and practically all college students, I always wish that I could get paid a little more than I do so I can either save a bit more, buy a bit more, or give a bit more. It would be great if everyone could take home $15 an hour, right? I mean I usually work 8 to 12 hours a week… so at $15/hour I could be bringing home about $120 a week (minus tax of course) and that would be great! Sadly, though, I don’t make $15/hour.
Today and during this election has brought up minimum wage across the country was a hot topic. Who doesn’t want to get paid more? It is hard living and raising a family working the minimum wage. However, raising the country’s minimum wage to $15/hour or even just raising it too much too fast could just create more problems. Now that some states have raised their minimum wage to meet this ‘great idea,’ a lot of articles are coming out with headlines about how many small businesses are either cutting employees or having to close, even some larger businesses have to cut employees. This is what I was afraid of when everyone was cheering for $15/hour because no one was thinking of the consequences. For example, if a restaurant worker is getting paid $7.50/hour, raising the minimum wage to $15 would allow the worker to bring home double the money (yay?), but to compensate for the higher wages the restaurant would have to either raise/double all of their food prices (so then you’re bringing home twice as much but if everything costs twice as much you are in the same situation as before), or they would have to fire some employees (so now, some people are bringing home $0 a week instead of at least something).
This is why I was so frustrated when I heard people cheering for raising the minimum wage by so much. This sounds rude, but my reaction was “Are you stupid?” and the answer could be yes, or it could be that they just didn’t think of the consequences. The minimum wage has slowly risen with inflation which is how it is supposed to be. If suddenly minimum wage was much more inflation would probably explode (okay, not really but inflation would definitely increase probably more than usual) and we would all be screwed. I am no economics major, so my facts aren’t perfect but I do have some common sense and I took an econ class once in 10th grade. The idea is great, but the truth behind it is that it just isn't a great idea.
I am worried and sad for everyone who has been or will be affected by the minimum wage raises. For some, it could be good if inflation doesn’t rise too much to compensate, but others will lose jobs and some will lose their business. In a perfect world, money wouldn’t exist because we would all work and provide and it would be a mutual giving and receiving, but we don’t live in a perfect world. In the end, I hope that people think things over before jumping on the bandwagon. Don’t just think of the immediate after or the moment of; think of down the line, in a few years, think of everyone or everything it relates to.
