Increased wages help millenials because it is pay for work done. It is the fairest way to show employees that you appreciate the work they do, day in and day out, and allows them to pay for the gas, food, student loans, rent and clothing necessary to perform their work duties. Today, students are graduating college with crippling amounts of student debts and not enough jobs to pay them off, let alone jobs that pay enough do that we do not have to live at home with our parents. Paying a fair wage also helps businesses, and may actually be the key to stimulate economic growth, so when I see the question whether minimum wage hikes help millenials, my answer is yes.
Full disclosure: I am a socialist. A big one. I believe in social responsibility and allowing all individuals to have a chance to succeed. So when I saw the beginnings of the fast food worker strike not only was I not surprised, I was eager to join in solidarity.
Over the past forty years wages have stagnated while CEO pay has soared. Service jobs are slowly replacingthe industrial jobs that once created the middle class, and wealth and savings for the poor and the middle class have all but disappeared.
If wages have kept up with worker productivity, the minimum wage should be closer to $22 an hour. That means that if wages were actually correlated with how much output employees create, it would be over three times higher than it currently is. If wages had kept up with CEO pay, that number would be closer to $33 an hour. The fast food workers are asking for $15 an hour, a $7 dollar increase so they can feed their children and keep a roof over their heads and not have to depend on social services to survive. More than 66 percent of Americans support raising the minimum wage to $10 an hour. President Barack Obama is asking for an increase to $9 an hour.
Yes, without question.