Raise the Minimum Wage

This is something I feel strongly about.  Because I believe in a world that treats people well.  And, I believe it is up to each of us, in each decision we make, to make our world better for those that come after us.  For me, I think of my children and (possibly) grandchildren.

I believe our state and our country should raise the minimum wage.  The argument I have put together (below) is based on Illinois raising their minimum wage from $8.25/hour to $10.00/hour (to more closely match the rate of inflation; but, is still not, in my opinion a "living wage").  This is not a "utopian" viewpoint, as I am sure some people may argue.

The #1 argument is that it costs employers more, especially small business owners, right?  Let’s say a business makes $100,000/year.  Let’s say they have 2 FTE (80 hours/week), that’s $7,280/year if the minimum wage was increased (many SBO have more than 2 employees; but, are likely a mélange of PT).  BUT, that employer is not going to want to lower their income; so, they will raise prices based on what the market will bear.  THUS, NOT ONLY enabling more people to AFFORD their goods/services BUT ALSO not reducing their own income. 

It’s just a fear of the unknown.  And, I get it, no one wants to lose money.  But, seriously, there should not be SO MANY poor people in our country and SO FEW rich.  SO CRAZY.  Everyone can do their part to change this.

This argument has been played out over and over throughout history, ever since the Fair Labor Standards Act of the last century (1938!), I imagine.

Let’s put ourselves also in the shoes of a large business owner, with profits well into the millions.  Those corporations (and possibly their stockholders) would likely easily have $1 million saved somewhere--sitting in some investments (or even offshore accounts), not REinvested into our American economy, really.  Imagine that same $1 million spread out among 1,000 people.  Each of those people would have $1,000, that they WOULD likely SPEND and THEREFORE boost our economy AND our tax base! 

There is no argument here.  It makes sense to raise the minimum wage to (get closer to meeting) the rate of inflation.

Another argument COULD be that teenagers are the ones that would be making more money.  But, REALLY, there are a LOT more people making minimum wage that are NOT teenagers.  But, for argument’s sake, let’s say our teenagers make more money.  THEY ARE OUR BIGGEST SPENDERS!  THEY HAVE THE MOST EXPENDABLE INCOME, percentage wise!  They are always a consideration when new businesses are looking for possible consumers! 

 

Let’s BOOST the economy AND leave the world a little better, one step at a time!!  It starts with raising the minimum wage.