A minimum wage increase SOUNDS like a good idea on paper. However, that’s all it is. It is not an idea that will work out for Americans in real life. We are not a socialist country.
Here’s the thing, if minimum wage increases, then there are a few things that will happen:
1. People will lose their jobs
2. Employees will receive less hours
3. Inflation
If businesses are forced to pay employees more, then those businesses will have to lay off employees and/or schedule their employees for less hours in order to make ends meet. In addition, the products and services being provided will cost more because the company needs to make more money in order to pay their employees more and buy the products they need in order to keep their business running.
According to the Washington Examiner, a Congressional Budget Office report shows that under Joe Biden’s $15 an hour wage hike, there would be a net loss of 1.4 million jobs in just his first term of four years.
“Higher wages would increase the cost to employers of producing goods and services,” the report said. “Employers would pass some of those increased costs on to consumers in the form of higher prices, and those higher prices, in turn, would lead consumers to purchase fewer goods and services. Employers would consequently produce fewer goods and services, and as a result, they would tend to reduce their employment of workers at all wage levels.”
Minimum wage jobs are for people with minimum skill sets, such as students who are just entering the work force, or for those who want to add supplemental income with a side job. Those jobs are not meant for people to work their entire life and attempt to support a family with.
Minimum wage jobs are stepping stones....and I don’t know about you, but I have worked at McDonald’s and I guarantee it is not a job that deserves to make as much or more than our nurses and other people who busted their butt to get through school and now bust their butt daily to provide their learned skill set.
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