Minimum Wage Should Be Raised Lowered, Or Eliminated Altogether?

1007 Words Sep 30th, 2015 null Page
A highly discussed topic in today’s society is the current state of minimum wage; should it be raised lowered, or eliminated altogether? Minimum wage is currently at $7.25, although some states and cities have raised their minimum wage even higher. A higher minimum wage helps working class families, strengthens the economy, and it has not adjusted for inflation. To begin, minimum wage helps working class families and by raising the minimum wage, it will have an immense impact on their family income as a whole (Hall, par. 7). More families will have the chance to make more money and support themselves. Families will be able to buy more consumer goods to maintain their family resources. Raising the wage while the economy is weak helps families in need by generating economic activity that benefits the entire population. If the minimum wage is raised, even by a little bit, consumer good prices will lower and the middle class will be able have more purchasing power (Barnett, par. 11). In opposition, if the minimum wage is raised, millions of people would lose their jobs. Millions of people would get raises, while many will lose their jobs, as for the companies will not have the money to pay everyone. People would, then, have to work more hours to get the money they need. “If middle class incomes are raised to offset…vulnerability, the cost of living goes up for everyone, assuming no large productivity or business efficiency gains as an offset” (Barnett, par. 12). Not all…

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