Raising Minimum Wage Is Necessary
In 2014, about three million people made minimum wage or less. Those people made up about …show more content…
While consumers would have more spending money, most companies would offset this increase in consumer funds by increasing the prices of their products. As stated before, each employee would become more expensive to the employer, and one way businesses would counter this is by increasing prices. Increasing the minimum wage will not make much of a difference if the price of everything else also increases (Geraghty).
Another argument for raising minimum wage involves the relationship between the minimum wage and poverty. Proponents of raising the minimum wage claim raising the minimum wage would lift about two million Americans out of poverty (“Raise”). However, that number is miniscule compared to the 43.3 million that would still be in poverty (“Poverty”). Also as stated before, raising the minimum wage is likely to reduce the amount of jobs and increase unemployment, which would add to the amount of people in poverty anyway