Raising The Minimum Wage Essay

Many of our representatives in Washington have been discussing the advantages of adjusting the minimum wage. Many people are looking at the short term gains of having more money in their pockets. Raising the minimum wage, however, would affect the economy of the United States of America negatively, hurt the private sector, and would stunt the growth of the United States economy. Employers do not feel an obligation to hire a laborer if the minimum wage has been raised to a greater amount than the work itself is valued. Once the facts are established, it is very evident that a raise in the minimum wage would damage the recovery of the United States economy. The Great Recession, which lasted from December of 2007 to June 2009, left America struggling to regain full function of the economy. In the attempts of repairing the economy, raising the minimum wage would be catastrophic to the development of the private sector. The classic “mom and pop’s” stores are having enough difficulties staying in business; if we raise the cost of labor in the private sector they would surely …show more content…
For instance, after World War II, Germany was forced to pay reparations due to the Treaty of Versailles 1919. In this, Germany decided to print more funds to exit the economic dilemma that had occurred. The value of German currency quickly depreciated, known as hyperinflation, causing the money to be worth nothing, leaving the economy in worse shape. America would be faced with the same problem if there were a surplus of money in the hands of the people, the effects would closely resemble that of the German’s. The value of the American dollar is falling rapidly; we owe our fellow counties over 17.9 trillion dollars, and this deficit isn’t growing smaller. The dollar has seen many periods of increase and decrease in value, but if the minimum wage is raised, then America’s economy will surely come to an inevitable