The Minimum Wage Is Too Much Essay

If one were to look back at the past decade, one could clearly see that the chances of slipping into poverty or never leaving poverty have greatly increased. With cost of living becoming more difficult for the average man to acquire, those that were once a decent distance away from the poverty line or even at that the level of middle class are drawing closer to the line.One of the answers that was proposed to help improve poverty is increasing minimum wage. Although increasing minimum wage is appealing idea, there could potentially be negative effects due to this decision.The article “The Minimum Wage: How Much Is Too Much?” by Alan B. Krueger covers the possible threat that increasing minimum wages may hold. Krueger agrees with increasing wages but to a certain degree, making the wages too high would lead to employment issues. The …show more content…
However if Krueger’s hypothesis on twelve dollars per hour is correct, then having it at the wage would be beneficial to both the workers and employers. Employers would fill up working space and lower turnover rates, leaving a window for more employment opportunities. The article stating certain states would be to afford the risk of fifteen dollars per hour is agreeable. A state like New York City shouldn’t receive suffer from that wage unlike a state with less job opportunities. It truly depends on the reaction of the employers and how they choose to attack the topic. Another issue that comes to mind would be how long will it take for the wage to reach the value of twelve. The article claimed that the year of 2020 is a projected date, but decisions can change and more importantly how would inflation affect the wages it that amount of time? Will housing prices and the costs of living increase along with the wages? Increasing minimum wage isn’t enough to lower poverty, one would need to work on the top to help the