Nationally there is a debate on rather the government should raise the minimum wage standards. Minimum wage can be defined as the lowest wage an employer can pay an employee. According to Daniel B. Klein and Dompe Stewart, minimum wage is an important tool in fighting poverty and helps equalize the imbalance in bargaining power that low-wage workers face in the labor market (126). Many believe that raising the minimum wage will help the economy, but studies show otherwise. There are more negative effects of raising the minimum wage than positive and they are potentially dangerous to our economy.
President Barack Obama proposed to raise the minimum wage in America when he took office and it has sparked controversy among the people across the country ever since. Some people believe that an increase in minimum wage is necessary to help reduce poverty while others believe it is useless. Getting a handle on poverty in America should be a priority to the country, but the people should really take a deep look and decide if raising minimum wage is the right way to go about accomplishing this.
Who are you really affecting by raising the minimum wage standards? If you increase the …show more content…
Klein and Dompe argued that the minimum wage was unsustainable at the time at the time of their article and believed that it should be raised. As a leading economy in today’s world many believe that we should be able to support the lower class and cannot advance as a society without doing so. According to these authors, an increase in minimum wage has no adverse effects and only helps the lower class (126). An increase in the minimum wage will in turn make a stable economy by giving low-income earners purchasing power, to help them live and support their family on the amount of money they
President Barack Obama proposed to raise the minimum wage in America when he took office and it has sparked controversy among the people across the country ever since. Some people believe that an increase in minimum wage is necessary to help reduce poverty while others believe it is useless. Getting a handle on poverty in America should be a priority to the country, but the people should really take a deep look and decide if raising minimum wage is the right way to go about accomplishing this.
Who are you really affecting by raising the minimum wage standards? If you increase the …show more content…
Klein and Dompe argued that the minimum wage was unsustainable at the time at the time of their article and believed that it should be raised. As a leading economy in today’s world many believe that we should be able to support the lower class and cannot advance as a society without doing so. According to these authors, an increase in minimum wage has no adverse effects and only helps the lower class (126). An increase in the minimum wage will in turn make a stable economy by giving low-income earners purchasing power, to help them live and support their family on the amount of money they