The Effects Of Minimum Wage On The United States Economy Essay

1042 Words May 3rd, 2016 5 Pages
Minimum wage has always been a popular topic amongst discussion always staying quite relevant. Whether one may be protesting for an increase or arguing against it, there are always very strong contentious points on both sides in the war of minimum wage. Currently, there have been large protests in many states for the minimum wage to be raised to $15. The idea is that an increase in minimum wage would potentially be beneficial to lower income families, however, there is also some economic risks involved with a wage increase. Sometimes a wage increase is necessary due to inflation, however, such a dramatic increase it could cause problems for the United States economy. Despite a minimum wage increase seeming to be beneficial to lower income families, a minimum wage increase would be detrimental to the United States economy because it would be hurtful to smaller business, create an increased use of automation, and increase unemployment for teenagers.
The minimum wage increase would not support the growth of more jobs it would actually kill jobs. According to the Former CEO of McDonald’s a minimum wage of $15 would be a job killer. “You talk about going from an average wage of $10 up to $15 for a new minimum, you’re talking about a 50% increase in wages. You look at that. Small business is going to get crucified with these rules, the joint employer stuff, the union organizing, these restaurants can’t afford that… it’s inflationary and it’s going to cause prices to go up,”…

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