I've read a great deal concerning raising the minimum wage but I would like to comment on items that have not been discussed and about the consequences that will happen.
A. Increasing the minimum wage for the lowest paid employees will create two problems:
1. The existing employees with a higher wage or salary will feel a compression if their wages are not raised accordingly.
2. The higher paid employees will feel that their salaries should be raised at least as much as the lowest-level employees were raised or should receive more money to maintain the differential that they were prior to the lowest employees' raise. Raising the minimum wage will resonate throughout the entire organization.
B. Raising the minimum wage for fast-food companies to $15 an hour will affect almost all jobs in the economy. As an example, an office assistant is currently making $12.50 an hour ($25,000 a year) will find themselves willing to go and flip hamburgers for $30,000 a year or request that their salary be adjusted upward because their job is much more difficult than flipping hamburgers. This will have an impact throughout the economy.
C. If and when this would take effect, what would be the impact on the price of all food and commodities? It's one thing for the workers to increase their earnings, but what happens to those who are on fixed incomes and rely on Social Security to live on?
When it becomes law, not everyone in business can absorb this increase but will have to raise their prices. Has anyone considered this rather major impact on our senior citizens?
My background: I have spent 30 years in Human Resources, most of it in corporate compensation and fringe benefits. My last job was as director of International Human Resources, located in Belgium, and responsible for employees in 21 countries.
Edward P. King Jr.