Minimum Wage Madness Raising the minimum wage sounds great to many citizens across the United States. More money is always better, but is raising the minimum wage really the best thing for America 's economy? Many questions are asked on how this will affect jobs and if it will help our economy grow. Whether it would be a benefit to our economy or not. How will it impact people living in poverty? Will small businesses be affected by this major spike in wage? Raising the minimum wage is not the way to help America grow. It will cause many problems. There are better alternatives to this that can help boost jobs and will help citizens with jobs financially. Job growth in America has a huge impact on the economy. Losing jobs will cause recession
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But with wage boost come job cuts. Hundreds of thousands jobs could be lost in the first year (Wilson). Loss of jobs will mean people will have no source of getting money, leading to poverty. If minimum wage increased to $12 it would lead to increased poverty rates (Wilson). Keeping the minimum wage low will help keep the job market open and will keep people off the streets. Many people living in poverty are already unemployed they have no salary and can 't support themselves. Raising the salary for some workers and keeping half a million without jobs is not a win for the economy, and it is not a win for the American worker. It is an ineffective anti-poverty proposal (Rugless). The question against raising the minimum wage is simple and direct. A higher wage makes it more costly for businesses and companies to hire workers (Rugless). Depending on where America stands economically, adding five-hundred thousand people to the unemployment rolls could slow down or even stop growth and maybe pushes us toward an economic recession, causing additional layoffs and pay cuts. How big of an effect does this wage spike have on the job market? Economists argue over this, but no one argues that boosting the minimum wage expands the number of unemployed workers who find jobs. The minimum wage is by design an entry-level wage; it is not supposed to be permanent, and it is not supposed to be enough on which to raise a family. …show more content…
It will cause more problems such as business closures, poverty, and inflation. Raising the wage will bring the country down. Going down hill is not what America needs. In the past there is evidence how our country holds up in recession. Thousands of workers across the country will be left on the streets without jobs or houses without any money relying on government funds. Young workers will not have any source of income they won 't be able to pay for college along with other school fees. There are other options that will help people who make minimum wage sustain financial needs. The economy is something that runs America and a spike in wage will be a huge roadblock causing recession. Ultimately, raising the minimum wage isn’t an avenue to a better, more prosperous America. It’s an
But with wage boost come job cuts. Hundreds of thousands jobs could be lost in the first year (Wilson). Loss of jobs will mean people will have no source of getting money, leading to poverty. If minimum wage increased to $12 it would lead to increased poverty rates (Wilson). Keeping the minimum wage low will help keep the job market open and will keep people off the streets. Many people living in poverty are already unemployed they have no salary and can 't support themselves. Raising the salary for some workers and keeping half a million without jobs is not a win for the economy, and it is not a win for the American worker. It is an ineffective anti-poverty proposal (Rugless). The question against raising the minimum wage is simple and direct. A higher wage makes it more costly for businesses and companies to hire workers (Rugless). Depending on where America stands economically, adding five-hundred thousand people to the unemployment rolls could slow down or even stop growth and maybe pushes us toward an economic recession, causing additional layoffs and pay cuts. How big of an effect does this wage spike have on the job market? Economists argue over this, but no one argues that boosting the minimum wage expands the number of unemployed workers who find jobs. The minimum wage is by design an entry-level wage; it is not supposed to be permanent, and it is not supposed to be enough on which to raise a family. …show more content…
It will cause more problems such as business closures, poverty, and inflation. Raising the wage will bring the country down. Going down hill is not what America needs. In the past there is evidence how our country holds up in recession. Thousands of workers across the country will be left on the streets without jobs or houses without any money relying on government funds. Young workers will not have any source of income they won 't be able to pay for college along with other school fees. There are other options that will help people who make minimum wage sustain financial needs. The economy is something that runs America and a spike in wage will be a huge roadblock causing recession. Ultimately, raising the minimum wage isn’t an avenue to a better, more prosperous America. It’s an