Essay about Raising Minimum Wage Is Like Dressing Up A Monkey

1185 Words May 11th, 2016 null Page
Minimum Wage

Raising minimum wage is like is like dressing up a monkey. The clothing makes him look better, but yet you still have a monkey. Everything that looks good isn’t always good. Raising minimum wage may look or sound good, but the effects of society with the increase will be traumatic and not in a good way. If the minimum wage is increased where does all the extra money come from? If the minimum wage is expanded, so will the prices of everything. When consumers pay more for goods, they consider the quality, quantity, service, and the price; basically debating if the product is worth their money. When minimum wage increase everyone 's wages will increase as well, skyrocketing prices for goods, this is where inflation sets in. Inflation is defined as the increase in the general level of prices for goods and services. The more inflation rise, the less every dollar you own decrease, the value of money is not consistent. Therefore, if inflation occurs, prices go up, the extra money you think you make from an increase in minimum wage is in your favor, but it’s not no one wins. This cycle is simple, for example, what would happen if a person lives on a rented property and your landlord forced to pay a higher wage to their contractors and employers? Your rent will increase as well. Other problems that result in an increase in the minimum wage are the laying off workers. Therefore, predominantly, Florida should not raise the minimum wage. According to the…

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