Generic_Username
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- Dec 22, 2018
- 13
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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?
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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