9. A Spending Boom Would Erupt
With the raise in minimum wage, there would be an explosion in short-term spending.
People who were suddenly making double, or even triple, what they had earned before would go out shopping. Cars, clothes, houses, and entertainment products would be gobbled up.
However, this spending spree would be short lived. As the greater effects of $15 an hour minimum wage settled in, sales would slowly tapper off.
10. The Future Will Remain Uncertain
It’s important to remember that everything in this article is just pure speculation.
When it comes to what would really happen, we don’t actually know. Even economists and financial experts can only predict.
Because of this, we’ll have to wait and see how the current $15 an hour minimum wage laws effect society. Only after that can we start to make truly accurate assumptions about what will happen on a global scale.