The Effect Of Raising Minimum Wage

2588 Words 11 Pages
An increase in minimum wage has short term benefits but long term setbacks. While raising the minimum wage is a good idea to help the low wage worker, raising it too much may end up hurting not only these workers, but the economy and everyday people alike. In my paper I am going to thoroughly analyze the effect of raising minimum wage in our society. I am also going to look at how the issue of minimum wage is covered in the upcoming 2016 presidential election. We rarely hear the candidates talk about their plans on minimum wage during this year’s election. One of the most important reasons is that the candidates don’t have any realistic plans on minimum wage. The media also have to take the blame for not questioning them on issues like these, …show more content…
We don’t look at the pros and cons of this issue before giving our opinion on this matter. This was seen when I did my primary research on the same topic. In my primary research survey overwhelming majority of the 20 participants said that we should raise the minimum wage. Some of them said, “Increasing minimum wage will give people access to more money, which means they will spend more money and it will help the economy to grow.” Some people also argue that raising minimum wage would allow people to be removed from public assistances and hence the government will be allowed to cut down money on public services and etc. There are also arguments that increasing minimum wage also help people live a better and healthier life, which is better for all. These arguments are not false. These are very solid argument that actually shows some benefits of raising minimum wage. However are these always true? One might think since most people agree on the same things and believe them that must be correct. But we will try to take a deeper look at this and figure out if this is the case for minimum wage or not. We will see why these assumptions are somewhat correct in the short run to help minimum wage workers, but in the long run these arguments are proved to be wrong and end up hurting

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