Minimum wage is another one of those government “solutions” that forces the economy to behave in unnatural ways – causing more problems than it fixes.
People earn what they’re worth. They aren’t entitled to anything more or anything less than the value they provide to the economy. There should be no artificial magic system that forces Jane to be paid more than Jill, completely ignoring everything about that person and their background.
People who complain about the minimum wage is nonsense. It makes as much as sense as me complaining that you aren’t giving me money.
Minimum wage is a socialist idea that pretty much argues that if Jane is a fry cook at McDonald’s, she’s entitled to a minimum salary regardless of how much it costs McDonald’s to hire/maintain her job. Minimum wage ignores what it costs to keep that job alive. It ignores why that job exists. It ignores the return-on-investment for McDonald’s – and forces McDonald’s to pay Jane $20 an hour instead of $8 an hour.
It doesn’t matter if every other fry cook at Wendy’s or Burger King makes $8 an hour. It doesn’t matter if McDonald’s earns $20 per hour from an employee that it pays $8 an hour.
Every job has a level of importance in the company or organization that provides that job. There are low level, low paid positions, mid-level positions and high level positions. The easier and less qualified you have to be to do a job, it demands less pay.
That’s why it makes complete sense that the CEO of McDonald’s earns more than a fry cook at McDonald’s. The job of the CEO is more difficult and much more important – the CEO’s work results in more money being made for the company, while the fry cook’s does not.
People argue the CEO is greedy and overpaid. Maybe. But if the CEO decided to leave, other companies would pay him or her as much or even more. That’s because that’s what they are worth in the marketplace.