Essay The Effects Of Raising Minimum Wage?

1860 Words Jul 23rd, 2015 8 Pages
Effects of Raising Minimum Wage Most people in the United States have an opinion on minimum wage, whether it is too high or too low. Whenever a topic is discussed that involves money then the economy needs to be put in the discussion too. If people made decisions without thinking of the economy in the long run then a country could fall apart. If people want to raise minimum wage then all possible negative and positive effects need to analysed to be sure the positive effects would outweigh the negative effects. To make the best decision whether to increase, decrease or leave as is, then one must speculate who will be affected and of those affected how will it affect them. Also, how will a increase or decrease in minimum wage affect the unaffected, such as business owners who have a different pay scale than their employees on minimum wage? How will the economy react if minimum wage is increased or decreased. For every scenario an increase and decrease must be examined to theorize if a shift is favorable.
1. Who Will Be Affected? Before one can begin to theorize what can happen to the economy if minimum wage is changed, one must know who will be directly affected. Those directly affected will be the workers on minimum wage or just above. "According to the Bureau of Labor Statistics there are about 3.6 million workers at or below the minimum wage"(Dorfman). In a perfect world, then all 3.6 million workers would be greatly benefited in a raise of money. Of the 3.6…

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