Article 5 ,Quote 1-"some 21.3 million employees would eventually be guaranteed a raise, assuming they kept their jobs. (Another 11.1 million might theoretically benefit if companies adjusted their whole wage scales upwards, which is what the light blue section on the chart shows."
This is the big part most articles miss about the $15 an hour minimum wage: it is not just about the workers that make the exact minimum wage. It is, in fact, about all workers that currently make less then $15 an hour. While plenty of places have a local higher minimum wage, most businesses also simply workers at least a couple dollars more. The article says this number is 21 million some, but the real number might be much higher.
Article 5, Quote 2-"increasing the minimum wage should cost some people their jobs. If the price of low-skill labor rises thanks to meddling politicians, demand for it should fall. Employers might slash their payrolls to preserve profits."
The truth is here, people loose jobs everyday for dozens of reasons. One of the more common reasons is simply pure greed on the part of the business. There are even businesses owners that will get rid of most of their employees, or at least dream about it. The truth is that most businesses can't get rid of all that many workers. A small business with two shifts of five employees each can't really cut too many jobs and expect to stay open.
Article 5, Quote 3 -"They say that instead of forcing businesses to cut staff, raising wages simply spurs them to become more efficient. The typical Burger King or McDonald's does not really run like a well-greased machine. Fry cooks slack off. There's lots of turnover, which bogs down operations."
Another good point. This also goes far, far, far beyond just the fast food jobs. The vast majority of businesses are very inefficient. Most of the simple reason as it does not matter all that much to the bottom line. The turnover is most bussiness that pay less then $15 an hour is also huge, but it's not like businesses care at all.
Article 5, Quote 4 -"They have consistently found that requiring businesses to pay their workers more reduces employment among teens."
I somehow doubt any of these studies was done in the real world. Thousands of businesses need millions of workers: this is very basic. Teens make up a part of the population, so you will have to hire them. Even if a business wanted to set an age minimum to hire, say 25, what would they do if they could not find enough people over 25 to fill all the open job slots?
The simple fact is that there are millions of Americans working 40 hours a week, unable to exist without government handouts, like "food stamps," medical assistance, and even welfare. To look at it another way, it's simply CORPORATE WELFARE, where we taxpayers are allowing corporations to pay their employees less than adequate wages by subsidizing their workers. The corporations will gladly let us feed, house, and care for their workers while taking all the extra cash as outrageous pay and bonuses for the bosses. Minimum wage should be graduated up over time and by the size of the business, but it should be increased.
When People say that higher wages will 'kill jobs' what they really are saying is it will kill the obscene bonuses of upper management. They are just scaring you to protect their own interests. This idea that you don’t want to increase the minimum wage is it will raise prices. We don’t seem to have a problem raising prices when raw materials go up, we don’t have a problem raising prices when rent goes up. We don’t have a problem when electricity or taxes go up. We don’t have a problem increasing prices when the government increases tariffs. We just do it. But, when it comes to people making a minimum wage that has not increased in 10 years, there is a problem. Am I missing something in the logic here?
In the mid-’60s the equivalent of the minimum wage would give us about $12 in purchasing power today. In the meantime, productivity has increased about 150 percent. Does it seem we have to get back in balance? If it becomes an issue, many will cry that they have to layoff workers. I say, lay them off at your own peril. In business, workers contribute to the bottom line, don’t subtract from it. They will cry that they have to raise prices. If you increase the minimum wage say 20 percent, it is actually a small part of the cost of your hamburger. If one insists on raising their prices 20 percent, they are likely taking 90 percent or more of the price increase to the bottom line. From a national point of view, which Congress should be interested in, an increase in the minimum wage puts more spending money in people’s hands and they spend it. And each dollar they spend multiplies through the economy seven to nine times. Sounds like a good deal to me.
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