If Fast Food places started to pay
workers $15/hr
Prices would go up and quality of the
food will go down, It won't be one or the other it would be BOTH.
The number of jobs available will be
reduced. This would be done by reducing the number of stores in an
area. The store or stores that remain will have more workers to try
to handle a higher flow of traffic. They would only keep the best
workers. Those who are hired in the future, would need better
qualifications than they do now. The high school drop out with no
work experience will very likely not get hired. Working at a Taco
Bell would only be a dream.
If Minimum wage is increased to $15/hr
This would be raised over a period of
years.
A lot more people would be working at
minimum wage. A person paid above minimum wage but below $15/hr would
slowly find themselves back working at minimum wage. A person making
1.5 times minimum wage, would then make someplace between minimum
wage and 1.5 times. Prices will increase.
Changes in Taxes may not occur. If no
increase in standard deduction, or a lowering of tax rates occurs,
the person who was making minimum wage will pay a higher effective
tax rate.
Union wages would go up. In most
contracts the union wage is based on minimum wage e.g. 3.2 times
minimum wage. As long as prices do not increase too much you will be
making more money.
It comes down to this.
It is not how
much money per hour you are making, but how many hours must you work
to pay for things.
How many hours will you need to work to
pay your Taxes?
How many hours will you need to work to
pay for a gallon of milk?
How many hours will you need to work to
pay for a pound of hamburger?
How many hours will you need to work to
pay for a package of hamburger helper?
How many hours will you need to work to
pay for Rent?
How many hours will you need to work to
pay for a gallon of gas?
How many hours will you need to work to
pay just to see a movie in the theater?
How many hours will you need to work to
pay for your electricity?
How many hours will you need to work to
pay your cable bill?
IF you work more hours to get these
things, then you are getting paid less. The check may look bigger but
you are getting paid less.