Should Minimum Wage Be Increased? Essay

1824 Words Dec 1st, 2015 null Page
Is an increase to the minimum wage floor the answer to the ills of Americans living in poverty? In recent years, the minimum wage debate has raged on all fronts of our society from corporate boardrooms to dining room tables. However, when fast food and other traditionally low paid worker began to push for a fifteen-dollar an hour minimum wage floor the debate reached the media and took a life of its own. Proponents of an increase minimum wage insist that the increase to minimum wage would level the playing field for poor Americans, whereas opponents of minimum wage argue that the increase in minimum wage would hurt the low worker it was designed to help. This battle has been raging since the inception of minimum wage law in the late thirties when Roosevelt enacted the Fair Labor Standard Act (FLSA). While an increase in minimum wage seems to intuitively fight against poverty, based on the evidence minimum wage, in fact, hurts the worker it was designed to help because of its negative unintended consequences such as reduces incentives for self-sufficiency, and weakens skills in human capital.
Increasing the minimum wage to any amount does not afford low skill worker a better living standard. In other words, any rate at which the minimum wage is set does not necessary take the low skill to a higher standard of living. According to David Neumark and William L. Wascher, authors of, Minimum Wage, “an increase in the minimum wage largely results in a redistribution of income…

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