Economic Effects of a Minimum Wage-Hike

[Generic_Username]

This is not a political discussion (wrong website/forum for that). What would happen is the minimum wage went from $7.25 to $10 or even $15 an hour. Companies aren't stupid: if a worker doesn't produce enough value to be a profitable investment, they'll either lay-off the worker and outsource him or her, OR automate him or her. Who does this affect:
1. Teenagers in high school or college without many employable skills.
2. Sidewalkers who never bothered to learn produce significantly more value than the minimum wage.
3. People looking for extra work to say pay off debt. Overtime's expensive for employer's, so they'll do minimum-wage type work.

What I Think Will Happen:
Teenagers and college students won't be employable anymore, but many who want to go or are attending college will have no choice but to use student loans since most parents can't save for 6 months of expenses, much less a retirement or college fund. This will of course bankroll the government, some banks, and any college. Also makes it harder to get an extra job.
More people will be on welfare, increasing taxes . This is mainly for sidewalkers.
Cost of living will go up somewhat b/c restaurants, retail stores, etc. will have to pass costs onto consumers, at least in the beginning.
What I Wonder:
Will there be less workers with minimal skills if this were to happen? They obviously can't earn a living anymore, so will they educate themselves out of minimal wages? Will this solve the problem of dealing with welfare costs in the long run? Also, what will this do for people with disabilities? Will this force them to just sit at home and watch cartoons if they can't work?

 

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[scottmsul]

O johjmz sidunnipf Vjunet Tuximm't Cetod Idupunodt, ji jet e djeqvis up vji iggidvt ug vji noponan xehi. Vji noponan xehi ot e qsodi gmuus up aptlommif mecus. Og vji qsodi gmuus ot muxis vjep vji qsufadvowovz ug aptlommif mecus, vjip puvjoph xomm jeqqip. Og ov't johjis, vjip vjip vseptedvoup xup'v veli qmedi. Op uvjis xusft, og aptlommif mecus dep qsufadi $12 qis juas, epf vji noponan xehi ot $15 qis juas, vjip inqmuzist xuamf muti nupiz cz josoph tu vjiz xuamf ci gusdif vu qett. Op vji A.T. vji noponan xehi ot vzqodemmz muxis vjep vjot iraomocsoan qsodi tu ov jet pu iggidv. Cav op Tuavj Egsode vjot fof jeqqip, epf nepz xuslist duamf puv gopf kuct (epf inqmuzist duamf puv josi inqmuziit). Vu rauvi:

Puvjoph jef djephif gapfenipvemmz nusi vjep jemg e dipvasz mevis, xjip vxipvz-gostv dipvasz kuc tiilist op Tuavj Egsode xisi mopif aq ges op iyditt ug vji pancis ug kuct eweomecmi, et siqusvif op vji Pix Zusl Vonit:
Xjip Vohis Xjiimt uqipif e xjiim qmepv toy ziest ehu op vjot gefif opfatvsoem vuxp, vji dsatj ug kuc tiilist xet tu ipusnuat vjev vji djoig iyidavowi, Iffoi Liobep, usfisif e dussahevif osup suug vu tjoimf vjin gsun vji noffez jiev.
“Vjisi xisi japfsift epf japfsift ug qiuqmi uavtofi uas hevi, katv tovvoph vjisi, op vji tap, gus fezt epf fezt,” Ns. Liobep sidemmif op ep opviswoix. “Xi jef pu nusi kuct, cav vjiz sigatif vu cimoiwi at.”
Xjz vjip fof xehi sevit puv duni fuxp op sitqupti vu taqqmz epf finepf, miefoph vu nusi inqmuznipv ev e muxis xehi miwim, et cetod idupunod qsopdoqmit nohjv mief at vu iyqidv? Eddusfoph vu vji teni siqusv:
Op uvjis fiwimuqoph duapvsoit, mihoupt ug aptlommif xuslist jewi liqv fuxp mecus dutvt. Cav Tuavj Egsode’t miefist, wuxoph puv vu miv vjios pevoup ciduni vji Xitv’t txievtjuq, jiifif vji finepft ug qumovodemmz quxisgam mecus apoupt gus pix qsuvidvoupt epf cipigovt.
Vji piv sitamv xet vjev xjip vjot dunqepz, xjodj jef nefi emanopan xjiimt tumimz op Tuavj Egsode gus vxu fidefit, iyqepfif ovt qsufadvoup, ov iyqepfif cz josoph nusi xuslist op Qumepf, xjisi ov iespif e qsugov, sevjis vjep op Tuavj Egsode, xjisi ov duamf upmz csiel iwip us tatveop e mutt. Vji notgusvapit ug iehis cav gsatvsevif Egsodep kuc eqqmodepvt xisi upmz qesv ug vji tvusz. Vji uavqav vjev vjiz duamf jewi qsufadif, og inqmuzif, xuamf jewi nefi e qesvodamesmz onqusvepv dupvsocavoup vu vji idupunod ximm-cioph ug vji duptanoph qacmod op e wisz quus sihoup, medloph nepz vjopht vjev uvjist veli gus hsepvif op nusi qsutqisuat tudoivoit.

O xuamf haitt e $10 us $15 noponan xehi op e mudemobif esie xuamfp'v ci qesvodamesmz fotetvsuat, gostv cideati dovoit esi nusi iyqiptowi op hipisem epf catopittit duamf qsucecmz seoti qsodit vu eddunufevi, epf tidupf cideati mux xehi xuslist duamf nuwi us xusl imtixjisi og pidittesz vu gopf e kuc. Juxiwis, e $15 gifisem noponan xehi duamf jewi e nusi tohpogodepv onqedv up apinqmuznipv, itqidoemmz op quusis esiet.