So my SO was ranting about the $15 minimum wage again and said if you pay people a living wage at McDonalds then they will never “aspire to me more” and get better jobs.
I said “Then other jobs need to increase their employee pay. Minimum wage is the lowest amount someone can be paid and still be expected to provide food, shelter and clothing for themselves and family. All other wages should pay Minimum plus more based on skill and need of service. All employers should increase how much they pay their employees.”
His response was “No, they can’t do that because that affects their profit and if that happens the price of stuff goes up and then we’re right back where we were. And if people make more money then inflation happens faster and the value of money decreases so increasing wages is pointless. No, people need to stop being greedy and expecting a job at McDonald’s to pay a mortgage.”
Now, people of Reddit, my degree is not in economics. My degree is in history. So, please correct me if I am wrong, but last time I checked, a well paid work force with the ability to pay for necessities and purchase luxuries actually DECREASES inflation and helps stabilize an economy. Most economic crashes are historically due to people not being able to afford necessities like food and shelter, not having the means to buy food and afford shelter.
But what do I know? My first job was when I was 18 and according to him anyone who didn’t work while in middle school doesn’t understand how the “real world works.”