While reading Ralph Nader’s article on why we should raise the minimum wage I realized he never mentioned the consequences of said action. The cons of raising the minimum wage are layoffs: if an employer’s compensation has a tight budget and the minimum wage rate is raised, it means that they can’t compensate the same number of employees at a higher rate, and must let people go to keep within budget. “So,
While reading Ralph Nader’s article on why we should raise the minimum wage I realized he never mentioned the consequences of said action. The cons of raising the minimum wage are layoffs: if an employer’s compensation has a tight budget and the minimum wage rate is raised, it means that they can’t compensate the same number of employees at a higher rate, and must let people go to keep within budget. “So,