Biz and Tech Editor
I like shopping at Wal-Mart because everything’s cheap. I usually know what I want to get and I’m in and out within minutes. The problem is this will probably end because minimum wage is going up.
As a result, we’re just going to get screwed as it goes to $10/hour.
Businesses, like Wal-Mart, usually hire very young people with little-to-no experience. Now they’re going to want to hire more experienced people that will get them more bang for their buck.
And in order to pay these high rollers, businesses are going to have to jack up their rock-bottom prices, and I’ll have to pay more for my cheap camping supplies.
Next thing you know, unemployment will go up and the poor bastards who earned minimum wage are getting by on welfare cheques alone.
So just to recap: Minimum wage goes up, people lose jobs, prices go up, $10 is the new $7.75. And that’s not stuff I just made up — it’s what a prof said to me when I spoke to him about it, and what anybody learns in economics class.
People should just be happy with what they’re making. If you’re making minimum wage, it’s (usually) because you lack the skills to give you a better-paying job. There are times when people make minimum wage due to special circumstances, but the government should help them out.
So if things only get worse, I don’t really see the point in raising minimum wage.
The people who have worked hard (and sometimes for free to get experience) have the higher-paying jobs for a reason.
So let’s not stunt our economy by putting things out of equilibrium. Besides, there will always be hippie socialists fighting for minimum wage.
There’s a reason why it is called minimum wage.