If we lived in a world where everyone has the right to pay whatever low rate they could manage then the least able would be paid a starvation salary. Wait, this is almost exactly the situation today. American society has established a minimum hourly pay rate that will not provide enough money to pay for housing, food, and other basic necessities.
The consequence is that those with limited ability and the resulting minimum pay must share housing and pool their low income to sustain their lives.
On the other end of the scale there are those businesses who need those low paid workers to sustain their low priced products. McDonald’s and it competitors are those businesses that come to mind. If the cost to make a burger goes up then the cost of those low priced burgers goes up. That could impact the very existence of many small enterprises.
We are faced with a conundrum!
I find myself sympathetic to both the poor and low pay employers.
Thus society must decide what is best for everyone in the long run. We see the consequence of not providing support for the poor when we look at nations like Bangladesh, India, and other southeastern Asian nations. The poor live in hovels and eat rice, beans, and anything else they can grow in a small garden. Is that the society we want in the United States?
Since we are a free enterprise society there are those who say “tough” and “it’s not my problem.”
The majority of our elected officials will make the decisions. As it stand today there are many cities and states who have decided it is in their best interest to continue raising the minimum wage. The current target seems to be $15.00 an hour. That is not a living wage but will help those who cannot obtain a higher level of education.
McDonald’s burgers at $5.00 won’t break us but just might help a little.