I've heard the same argument every time the minimum wage was raised. But
the layoffs never happened.
Losing 500k jobs is problematic, but what if you now have a bunch of people that
now only need to work 1 job instead of two? Or two working parent households
that can now have one parent shift from 40 hours to 30 in order to be home when
kids get out of school? It's important to see the full context of the
situation. Think of the reverse, what if we were to lower minimum
wage, then there might be more jobs but a lot of people would have to work more
hours just to make up the income they're not getting anymore if they
shifted from 35hrs at 8 an hour to 35hrs at 6 an hour. Is that a good situation?
Where does the money come from? If I have 10 employees, this would cost me $25,
000 a year. I can either cut employees (employees pay),raise my prices (public
pays) or reduce what I make. For some option 3 is no big deal. For others,
they have no choice but to chose 1 or 2. If 1, people lose jobs. If 2, prices
go up and the raise does not mean much because everything costs more anyway.Ever wonder why they do not raise it to $50/hr. so evryone can be upper
middle class? The effect on inflation would be so dramatic that almost
everyone would understand. BigMacs would go to $20 By going to $10.10 the
effect will be more gradual.
To make anyone work full time and live in poverty is immoral.
900k will be brought out of poverty and 500k will lose their jobs. Keep in mind those 900k already have jobs if this will impact them. So it creates 0 jobs but kills 500k jobs. And it's NOT
McDonald's job to pay enough for a person to provide for a family.
It's every person that chose to have a family's responsibility to
provide for their family. If someone is worth more than they are
getting paid, another greedy CEO will gladly pay them more to get them. If there isn't a greedy CEO willing to pay more, they aren't