Minimum Wage Essay

In an ideal world raising the minimum wage would be extremely helpful, however, we do not live in an ideal world. While an increase in wages will be helpful for some employee’s, for the families running small businesses it could hurt a lot. The question still remains will the benefits of raising the minimum wage overcome the damage done? How will business deal with this, will they overcome it by cutting the hours of some employees or will they increase the cost of goods and services, or will they do both? Why did this sudden interest in the increase in minimum wage start? Since the minimum raise is increasing will it have a ripple effect? With an increase in minimum wage will people want to go back and continue their education? Finally do these people deserve an increase in wages? In about twenty-three states all over the United States fast-food workers are protesting for higher wages and the right to unionize. President …show more content…
For example let’s talk about inflation, and unemployment. The poor and low-income households are already struggling enough along with the middle class, the low income class cannot afford to be laid off, and some can barely afford the cost of living! Mandated wage increase will always led to economic chaos because the math does not lie. Inflation and unemployment are not the only things we need to be worried about. Since, there is no such thing as a “business” tax. Any levy on companies always gets passed on to the consumers. When companies are forced to absorb increased costs, they raise prices. For example, say you go to a grocery store and you have ten items in your cart, normally you would expect to spend about eighty dollars, however since the minimum wage increase the company has to make up for loss profit. So now those items will run closer to one hundred