Fifteen dollars an hour minimum for any paying job sounds like a good idea, right? It’s something everyone can get behind: supporting low income families and letting them make their way to the top, and permitting them to live on more than a $10 wage. Although this idea sounds good and seems like the answer to the poverty crisis in America, it’s neither. Despite multiple states pushing for an increased minimum wage, doing so would have adverse effects on the economy and especially on low-wage earners; therefore, society should not be pushing for a higher federal minimum wage. Firstly, to address the biggest flaw in the minimum wage increase movement: where is all of this money going to come from? Well a solution being presented by people who
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Well the main premise of raising the minimum wage is to make all employers pay a higher amount of money to all of their workers, but this applies to all of their workers, and people they are going to hire/fire. When referring to the huge amount of small businesses in the United States (27.9 million according to SBA) why would a company hire a less qualified worker when they could hire a more qualified worker for the same price? The less qualified person that they would have previously hired for significantly less money is now out of work. This, along with the inflation of the prices of goods and services this a recipe for disaster for low wage earners. Apply this to teenagers looking for work too, why hire an inexperienced worker when can hire an older, more experienced …show more content…
In 2016, when the city of Seattle, Washington decided to raise its minimum wage to $13 an hour to support low wage workers, a report from the National Bureau of Economic Research showed a $1,500 drop of annual income for low wage earners. For insight as to how and why this happened, look towards the numbers. Consequently, from raising the minimum wage, many companies couldn’t keep up with the heightened pay and in turn forced them to give employees less and less hours instead of keeping them on the current schedule. The article by the NBER
Well the main premise of raising the minimum wage is to make all employers pay a higher amount of money to all of their workers, but this applies to all of their workers, and people they are going to hire/fire. When referring to the huge amount of small businesses in the United States (27.9 million according to SBA) why would a company hire a less qualified worker when they could hire a more qualified worker for the same price? The less qualified person that they would have previously hired for significantly less money is now out of work. This, along with the inflation of the prices of goods and services this a recipe for disaster for low wage earners. Apply this to teenagers looking for work too, why hire an inexperienced worker when can hire an older, more experienced …show more content…
In 2016, when the city of Seattle, Washington decided to raise its minimum wage to $13 an hour to support low wage workers, a report from the National Bureau of Economic Research showed a $1,500 drop of annual income for low wage earners. For insight as to how and why this happened, look towards the numbers. Consequently, from raising the minimum wage, many companies couldn’t keep up with the heightened pay and in turn forced them to give employees less and less hours instead of keeping them on the current schedule. The article by the NBER