By David Docekal, Editor The Hypercapitalist
There has been much talk about raising the minimum wage to levels significantly higher than they are. But I always say: If you ask me what a bank teller looks like when there is a $15.00 minimum wage, Id be happy to show you a picture of an ATM machine. That’s where its headed. I would fight for more pay but it would mean fighting for my own financial demise. It’s simple business logic. McDonalds is not going to pay someone $15 an hour as a cashier when they already have automated technology that could be easily deployed to their locations. In the long run it’s more cost effective. You can clamor for a higher minimum wage but the reality is, that’s not how the economy works. You’ll be fighting the wrong cause.