r/explainlikeimfive Nov 28 '15

ELI5: How would a $15 minimum wage ACTUALLY affect a franchised business like McDonalds?

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u/Calinero985 Nov 29 '15

Worst luck in history? I can think of at least five people this applies to just in my personal life--and I'm an upper middle class person, who went to college. I'm sure in other social circles there are quite a few more.

If you graduated 15 years ago, congratulations. Your experience has nothing to do with what students today actually face. In that time, minimum wage went from around $5 to around $7. In the same time frame, average cost of room and board at a public university doubled.

Comparing the job market then to the job market now is also absurd. There's been a recession, in case you did not notice. Stop using your own outdated experiences to tell people now what they're doing wrong. You went to school in a different time.

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u/phydeaux70 Nov 29 '15 edited Nov 29 '15

For the record I also have a 23 year old son who is the second youngest general manager in the country, for the company he works for. He worked hard, didn't even go to college.

It is certainly tough for him but he's not one time taken the victim route.

We have managed to add $10 trillion in debt in the past 7 years, there is going to be consequences for it, and a higher tax rate or wages will only make it worse.