MInimum Wage
Minimum wage has been one of the biggest debate of the century. Minimum wage was created back in the 1930s so people could earn the minimum amount of money to be able to live on. Since then, some people with low skills in the work force have been earning the minimum wage but due to inflation the wage is at $15,080 falls which below the poverty line if you’re trying to support a family, the poverty line depends on the amount of people in your household (Close Up Washington DC 3;Census Bureau). Although some people argue that minimum wage should be increased, minimum wage increase would cause job loss, small businesses would suffer, and raising the wage would hurt the people it's trying to help the most. So that's why the minimum wage should stay the same.
First off, minimum wage increase would cause job loss. An example of this happening was back in 2007 when the Fair Minimum Wage Act was put into place. It was to raise the wage to $5.85 in 2007, $6.55 by 2008 and $7.25 by 2009 (Congress.gov). According to Forbes …show more content…
Raising the wage would hurt the people that it's trying to help the most. In fact the CBO reports “such policies increase cost for employers, forcing many of them to lay off workers in order to save money and stay in business” (Close up Washington DC 6). Also the Federal Reserve Board of Governors and the University of California Irvine have concluded that “minimum wage increase reduce employment opportunities for the least skilled workers” ( Close Up Washington DC 6). Generally employers want to have the best workers possible so they can get their money's worth, making it harder for unskilled or new workers to be employed, and minimum wage is targeted for those low skilled
Minimum wage has been one of the biggest debate of the century. Minimum wage was created back in the 1930s so people could earn the minimum amount of money to be able to live on. Since then, some people with low skills in the work force have been earning the minimum wage but due to inflation the wage is at $15,080 falls which below the poverty line if you’re trying to support a family, the poverty line depends on the amount of people in your household (Close Up Washington DC 3;Census Bureau). Although some people argue that minimum wage should be increased, minimum wage increase would cause job loss, small businesses would suffer, and raising the wage would hurt the people it's trying to help the most. So that's why the minimum wage should stay the same.
First off, minimum wage increase would cause job loss. An example of this happening was back in 2007 when the Fair Minimum Wage Act was put into place. It was to raise the wage to $5.85 in 2007, $6.55 by 2008 and $7.25 by 2009 (Congress.gov). According to Forbes …show more content…
Raising the wage would hurt the people that it's trying to help the most. In fact the CBO reports “such policies increase cost for employers, forcing many of them to lay off workers in order to save money and stay in business” (Close up Washington DC 6). Also the Federal Reserve Board of Governors and the University of California Irvine have concluded that “minimum wage increase reduce employment opportunities for the least skilled workers” ( Close Up Washington DC 6). Generally employers want to have the best workers possible so they can get their money's worth, making it harder for unskilled or new workers to be employed, and minimum wage is targeted for those low skilled