In the world we live in today everything is about money. Sadly, we have become very dependent upon this green piece of paper that seems to make this world go round. I can also remember my grandparents saying that “back in my day a bottle of soda cost a nickel.” Now days it cost about $1.50+, an inflation of 3000%+. The cost of living back then was much less then it is today with an average family income of about $3,500. The average car cost about $1,500 and a cheese burger was 5 cents. Today the average family income of about $51,000 with an average car cost of about $31,000 and a cheese burger cost $1 at the lowest cost. The time span we are talking about is 1950 to now, which is 66 years. The inflation from then to now in average family income is about 1,450%. Back in the 50’s we also had more of a medium class versus the upper class and the poor class. Now we have hardly any medium class and have more upper class and poor class. So, what is wrong with the operation of funds today? Everyone wants more money. What do we do? Increase minimum wage? Raise taxes?

A lot of people are saying raise the minimum wage to $15 an hour. I find that to be insane, and this is why. For starters, is it fair that someone with a high school education or less makes $15 an hour flipping burgers versus the single mother that went to college, worked hard to get her degree, spent $40,000+ in student loans, works in administration and makes $10.50 an hour?  Okay, so let us play devil’s advocate. We raise the minimum wage to $15 an hour, so to make it fair we raise the wages of those with degrees and so on to $25 an hour. Sounds great, right? I mean more money for everyone. Wait, sound too good to be true? Yeah, probably is then, let’s check it out.

We have already seen what inflation has done for us over the last 60+ years. Has not really worked in our favor. We have increased the poor population and the upper-class population. But you will make more money you say….do you really make more money? Not at all, actually you will really make less money with a minimum wage of $15 versus a minimum wage of $10. I know what you are thinking already, but $15 is a greater amount than $10. It is really not, let’s look at it.

Because of the inflation of the cost of paying employees more the companies will have the raise the cost of their products to cost the costs to pay those employees. That in turn drives the cost of all products that a person uses up, meaning you must take those higher incomes to pay for the inflation. The inflation however will be greater than the inflation of the employees pays. You also must consider taxes. The State of Illinois is a state of if it moves or breaths, tax it. You will continue to pay more and more in taxes. The cost of health care coverage, gasoline, water, food, housing, and so on will inflate. So, you may have a family income of about $75,000, but now that car is going to cost about $50,000 and that burger is going to cost about $5 at the lowest cost. Oh, and did a mention housing….in 1950 an average house cost about $7,000, today it is about $189,000…. if you raise minimum wage and taxes…. maybe $275,000. Not to mention the unemployment rate has gone up more and more every year and is at its highest, and that is because of the cost of making things go up, less is purchased, companies are forced to close and put people out of jobs. Thus, you have a chance of going from making $15 an hour to $0 an hour, and because of inflation will put you further in the poor house.

This is the same article I wrote back on April 15, 2016, and it still rings true now. The state of Illinois is talking about doing such a thing right now. The current minimum wage is $8.25 an hour and they want to raise it to $15.00 an hour. That is a big jump, and Illinois is the most taxed state and therefore the more you make the more they take. Inflation is going to skyrocket far past what you think you are going to make on minimum wage. What that of the people that have fixed incomes? Are they going to adjust what they get from Social Security? There is not a chance they ever will increase your income, only decrease it. It is time people wake up and think for themselves and vote for the right people to be the voice for you. Think about what they are dishing and not buy into every word that comes out of their mouth. Think for yourselves and you be the voice for what you see and know is right. This is not just in Illinois either, this is country wide that all this effects.

With taking everything into consideration do you think that driving the costs up will help in any way, or should we be finding ways to drive the costs down? What are your thoughts, ideas, and so on? Please share this post, so everyone can see what is before them.