{"id":562,"date":"2020-10-14T21:45:22","date_gmt":"2020-10-14T21:45:22","guid":{"rendered":"https:\/\/marshallbrain.com\/wordpress\/?page_id=562"},"modified":"2020-10-14T21:45:22","modified_gmt":"2020-10-14T21:45:22","slug":"etq-everyone-minimum","status":"publish","type":"page","link":"https:\/\/marshallbrain.com\/etq-everyone-minimum","title":{"rendered":"Economic Thought Question – What if every worker received minimum wage?"},"content":{"rendered":"\n

by Marshall Brain<\/a><\/p>\n\n\n\n

Here is the thought question for today:<\/p>\n\n\n\n

What if every worker in the United States got paid minimum wage for the work they do?<\/p><\/blockquote>\n\n\n\n

It doesn’t matter who you are or what you do. Whether you are working in McDonald’s mopping the floor or you are the CEO of McDonald’s. Whether you deliver the mail for the President or you are the President of the United States. No matter who you are, you make $5.15 an hour for the work you do, and everyone’s total income is capped at $11,000 per year. What would happen if we did that?<\/p>\n\n\n\n

The reason why we might choose to do that is because the wages of most workers are headed in that direction anyway. Corporations all over the nation have been pushing worker wages down to the minimum wage level:<\/p>\n\n\n\n