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If minimum wage rises to $15/hr, someone who now makes minimum wage ($7.25/hr) will still be a minimum wage worker.
Additionally, everyone above them, to the current $15/hr mark, will *become* minimum wage workers.
This only *increases* the number of people at the bottom.
Additionally, everyone above them, to the current $15/hr mark, will *become* minimum wage workers.
This only *increases* the number of people at the bottom.
Businesses -- especially small ones hard-hit by the government COVID crush -- will cancel job postings, decrease hours, outsource jobs, or will automate them. Many small businesses will simply go out of business.
The pool of existing and available jobs will shrink.
The pool of existing and available jobs will shrink.
Those businesses that remain will need to balance their books. This will lead to increases in the prices of goods and services, pretty much across the board.
The class of people at the bottom will find their wages don't go as far relatively as they once did.
The class of people at the bottom will find their wages don't go as far relatively as they once did.
The push to raise the minimum wage and swell the ranks of the impoverished will be made more detrimental when we account for the erosion of the dollar's value due to government borrowing and printing to pay for all the other Leftist programs on the horizon.
So far, we've said nothing of Grandma, who having survived COVID, won't see a a suitable increase in her Social Security, because they never do. Make sure to find out which flavor of Fancy Feast she and her cats prefer. They'll all be eating a lot of it.
Since there is little chance to stop any of this (electing communists always has this set of consequences), I can only advise that you work hard to find alternative means of acquiring and protecting wealth to support yourself and your family. Try to stay within the law.
