Minimum wage today is seven dollars and twenty-five cents. In these hard economic times, the government wishes to raise minimum wage to fifteen dollars or more. Money is, essentially, a key item that makes the world go round. Why do people care about money so much? Money is what programs the world. The human race literally can’t function without it. The economy also couldn’t be stable without people having jobs. Because of so many people not finding jobs that pay more than minimum wage, low-class employers are demanding to raise the wage to fifteen dollars or more. Due to many different aspects, minimum wage should not be raised to fifteen dollars or more. Minimum wage in low-class businesses or non-required college education jobs is seven dollars and twenty-five
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Employers would be required to pay more money to their employees. Then the employer will pass that extra cost to the consumer. The price of consumer goods would increase across the board and this would result in inflation. With the Pew Research Center’s experiment, 3.3 million workers earned the minimum wage, creating a mere 2.6% of all the wage and salary workers in the U.S. This basically means that the majority of the workers don 't benefit from the wage increase while they deal with the higher prices due to inflation. This results in less expendable income for most of Americans, damaging growth and the economy. With a higher minimum wage, it can also shorten a company’s manpower. In 2014, workers in the fast food industry in the U.S. were demanding a wage of fifteen dollars an hour, or about double of what they were earning currently. If their request was granted, that employee at that certain company would have been earning more than thirty thousand dollars per annum. It is sufficient to say, raising the minimum wage to an excessively large amount would endeavor inflationary pressure on the
Employers would be required to pay more money to their employees. Then the employer will pass that extra cost to the consumer. The price of consumer goods would increase across the board and this would result in inflation. With the Pew Research Center’s experiment, 3.3 million workers earned the minimum wage, creating a mere 2.6% of all the wage and salary workers in the U.S. This basically means that the majority of the workers don 't benefit from the wage increase while they deal with the higher prices due to inflation. This results in less expendable income for most of Americans, damaging growth and the economy. With a higher minimum wage, it can also shorten a company’s manpower. In 2014, workers in the fast food industry in the U.S. were demanding a wage of fifteen dollars an hour, or about double of what they were earning currently. If their request was granted, that employee at that certain company would have been earning more than thirty thousand dollars per annum. It is sufficient to say, raising the minimum wage to an excessively large amount would endeavor inflationary pressure on the