Who do you expect to see at a “Fight for Fifteen” protest?Obviously some union members and fast food employees. The crowd is generally older, though each has a few college bernouts rallying.
You won’t find many economists there, and for good reason.
If their work ethic is anything like their strength in articulating their ideas, they shouldn’t expect $15 an hour anytime soon. Just look at how one responded to the fact that a $15 minimum wage would put fast food salaries on par with what paramedics earn, and that many small businesses wouldn’t be able to afford it.
Via The Blaze:
A reporter asked an Arizona woman who was protesting in favor of a $15 federal minimum wage Thursday about the possible ramifications of raising the wage, and she couldn’t quite answer.
Liz Kotalik of KSAZ-TV asked a woman identified only as Kathy, a McDonald’s employee, why she should make a salary higher than people in positions that require advanced education and skill.“All the minimum wage goes up,” Kathy replied. “With my income increasing, everybody else’s will increase.”
Kotalik noted that some small businesses said they can’t afford to pay their employees $15 an hour.“They don’t want to pay $8 an hour,” Kathy said, adding, “We need that extra money.”
Judging by that response, I wouldn’t hire her for $15 an hour of your money.
[Note: This post was authored by The Analytical Economist]