Should We Raise Minimum Wage

In recent events of protest for the raise of minimum wage, it comes to question whether or not minimum wage should be increased, and whether or not it yields positive or negative effects. In addition, does minimum wage actually help those in poverty? Small businesses also are said to possibly not do well in response. The following insight into economic articles regarding these topics shall reveal the effects of raising minimum wage among the possible favorable and unfavorable outcomes. A big question among the protests is if raising minimum wages will help those in poverty. According to some research, those working with minimum wage actually tend to be young female workers who are unmarried. In addition those who are working and in poverty are statistically small because not many infact are employed (Leigh, 2007; p. 432-445). The research also simulated what were to happen if there was an increase for the minimum wage; that is two effects can occur. If there is an increase and no cut for hours, it means there's less inequality between wages. The other effect is that employees will be fired, and overall less inequality because there are less of those in minimum …show more content…
Rather than the misconception upon the theoretical downfall of businesses and labor due to the rise in costs. The benefits we have observed is that there is less poverty in a sense due to the decrease in difference between those who earn more and are at minimum wage. The other historic statistical data discussed earlier proves to us that there has been increased minimum wages, but have not hurt society as expected. As for small businesses they isn't much of an affect upon them when wages have been increased, the only thing being it is more difficult for more employees to enter. Overall we can observe that an increase can infact have a positive yield to