Sample Minimum wage Essay

881 Words Nov 16th, 2013 4 Pages
Sample Writing Essays

3. The idea of a minimum wage has been around for quite a while. If increasing the minimum wage helps every one, no one would oppose an increase. In your opinion, who are helped and who are hurt by an increase in the minimum wage?

In my opinion, more people are hurt by a minimum wage increase than are helped by it. Increasing the minimum wage helps some low wage workers in the short run but is detrimental to the majority of society in the long run. An increase in the minimum wage helps some low wage workers in the short run. If a worker earned less than the new minimum wage, it is beneficial to them to get an increase in their hourly wage, as long as the prices of goods and services stays the same and
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Minimum wage is essentially a price floor, which is an artificial constraint placed on the economy and often results in a surplus. In the case of minimum wage, the supply of workers is greater than the demand for workers. Raising the minimum wage drives up inflation and results in higher prices and cost of living until another

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