Pros And Cons Of Raising The Minimum Wage

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Raise The Wage

If you have worked a minimum wage job, then this paper is something that you will relate to. The big question is should states raise the minimum wage to $15 or higher. People feel like they work hard enough to earn more than what they are getting, some people get jobs instead of careers and me personally I would not want a job for all of my life. If a person did not do well in the educational period of their life, maybe a minimum wage job is all they can get. People have families and a family of 4 can not just live off of a minimum wage paycheck. In this paper you will find out why minimum wage is important to a lot of people. The reasons why this is the topic for this paper is endless, but here are 3 reasons why.Some people
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If the minimum wage is raised, it would reduce income inequality and poverty while boosting growth without increasing unemployment. ¨Raising the minimum wage is good economics, good policy, and good for workers.¨ This supports the topic because it states some of the pros of raising the minimum wage. If employees get paid more, they are less likely to quit their jobs. The reason why they are less likely to quit their jobs, is because if they are getting paid more than a normal $7.25 minimum wage, they will want to keep that job in hopes to have a better financial standing in life. This is just one way raising than minimum wage could decrease unemployment. Another way is higher prices in …show more content…
Just to get the economy back on track, than spending power has to be in the hands of the people in the economy. ¨The problem with our economy today is that the growing gap between the real wages and productivity has violated the traditional relationship between real wages and consumption.¨ A worker could be working real hard, but their pay is behind. Meaning all of than hard work that was done, is not going to matter at the end of than day because of ¨LOW¨ wages.

On the other hand there are some bad things about raising the minimum wage. Such as inflation, higher wages means that business owners are forced to raise prices of their goods and services which causes inflation. All though raising than wage was a good thing, but it also has a negative affect. Inflation is not a good thing especially financial wise. Inflation will decline in than purchasing power. For example a $1 honey bun would go up .02 cent if inflation goes up 2%.

Raising the minimum wage is not a government problem. Meaning it is an employee problem. What the employees need to do is ask for a wage. Maybe if they show that they are a good enough employee, good enough for a raise, they will get a raise on the wage. People can choose what they want to do with their money and if they choose not to fight, then it is not important enough to even try to strike or fight for. Yes this is a big political question, but is it really a big political

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