Raising Minimum Wage Should Be Good For The Economy Essay

1094 Words Feb 22nd, 2016 5 Pages
Raising minimum wage would be good for the economy. By increasing the minimum wage, the United States would come out of debt. A raise in minimum wage is smart economics and beneficial to society. Increasing the minimum wage, would allow the United States claw its way out of debt. Raising minimum wage could be good for families. It would raise the incomes of 28 million Americans. “Women, particularly benefit because they tend to work for lower wages than men.” With more family income, some people would choose to retire, go back to school, or have children, making it easier for others who need jobs to find them. Working families would have more time for community life, including politics. Payroll and income-tax revenues would rise; the federal deficit would come down. Social security worries would fade. Raising minimum wage could be good for economic recovery. The productivity of each worker is rising strongly, yet that worker’s capacity to purchase is lagging badly behind. Policy should be more directed toward programs that increase the minimum wage and less of discredited neoliberal “trickle-down” economics. Trickle-down economics is largely counterproductive because it shifts more resources into the hands of those who have less propensity to spend and keep the economy moving. Raising the minimum wage could also help people get out of debt. Real wages have increasingly lagged behind the growth in productivity. It also clear that hours…

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