The FF chains will either shut down or, more likely, invest in robots to replace 95% of their workforce.
The unemployment line is what $15/hr will get them.
Is there some legislation or law which mandates that these people work at these Fast Food establishments?
I mean, do they HAVE to work there or can they find employment elsewhere?
I DON’T believe in the minimum wage concept at all but I have no problem understanding why those who do favor a fifteen dollar minimum. The minimum 52 years ago was $1.25 an hour which would actually support a single person and allow some level of dignity. A married couple who each had a minimum wage fulltime job could do well enough and even raise a child or two. The current minimum of $7.25 is nowhere close to equaling that. I don’t care what the official CPI figures say, I was nineteen years old 52 years ago and I know what the price level was at that time.
What I DON’T understand is why those who believe that the minimum wage actually does someone some good stop at fifteen an hour, why not at least one hundred an hour if you are silly enough to think it works?