Should Minimum Wage Be Increased?
In theory, raising the minimum wage sounds like a good idea because the current minimum wage is difficult to live off of, but overall the negatives outweigh the positives. Moreover, as the cost of labor increases businesses are forced to make tradeoffs including laying off less experienced workers. Along with this, many businesses would also be forced to raise the prices of their goods because with fewer workers, production would also decrease which could lead to a shortage of supply. Finally, although raising the minimum wage seems like a good way to decrease poverty the effects are minimal and it is likely that there are other courses of action that would be more