Minimum wage is a hot topic in the United States currently, and both sides are equally important. Making sure that people living here are above the poverty line is necessary, but keeping the nation from going bankrupt is also crucial. The positives to raising minimum wage are financial security for families, less worker exploitation and under employment, and it would reduce crime significantly.
More than 45 million people in the United States alone, are below the poverty line, which means families are being torn apart and constantly under stress about when their next meal will be or if they will still have a home by tomorrow. According to Sarah Shemkus, an economic articles author, financial security for families will lead to a ripple effect. This ripple effect goes many different directions. The …show more content…
That is, the question that Todd Clausen, a reporter in NYC, has been pondering. Should the United States not raise their minimum wage? The effects of raising the minimum wage are unemployment, closures of small businesses and price increases. Businesses only have so much money and in order to pay for $15 per hour per employee, they would have to have fewer employees. Unemployment could become rampant if the United States decides to hike up the minimum wage. As Paul Nugent, author and advocate, states, “With an increase in the minimum wage, you may not be able to afford to promote an employee at a higher rate or be able hire additional employees. You may also need to scale back on benefits to account for your higher payroll costs”. What he means by this is that not only would businesses have to lay off workers, but those who are still working their have a much lower chance of getting promoted and have a higher chance of losing their benefits. In raising the minimum wage, the United States could be jeopardizing millions of
More than 45 million people in the United States alone, are below the poverty line, which means families are being torn apart and constantly under stress about when their next meal will be or if they will still have a home by tomorrow. According to Sarah Shemkus, an economic articles author, financial security for families will lead to a ripple effect. This ripple effect goes many different directions. The …show more content…
That is, the question that Todd Clausen, a reporter in NYC, has been pondering. Should the United States not raise their minimum wage? The effects of raising the minimum wage are unemployment, closures of small businesses and price increases. Businesses only have so much money and in order to pay for $15 per hour per employee, they would have to have fewer employees. Unemployment could become rampant if the United States decides to hike up the minimum wage. As Paul Nugent, author and advocate, states, “With an increase in the minimum wage, you may not be able to afford to promote an employee at a higher rate or be able hire additional employees. You may also need to scale back on benefits to account for your higher payroll costs”. What he means by this is that not only would businesses have to lay off workers, but those who are still working their have a much lower chance of getting promoted and have a higher chance of losing their benefits. In raising the minimum wage, the United States could be jeopardizing millions of