Why Raise Minimum Wage? Essay
Minimum wage is the lowest wage permitted by law; it sets a precedent for entry-level employees to be paid and for small businesses and large cooperation’s to pay their workers. Unskilled and young inexperienced workers are typically paid minimum wage; they are emerging people dying to develop in society, therefore will to accept minimum wage. According to HR Magazine, “The minimum wage is the floor upon which the entire wage structure is built” (“Should the federal minimum wage be increased?”). Currently the minimum wage is $8.05 per hour, as of January 1, 2016. Raising minimum wage decreases job creation, affects the cost of living by raising the prices of goods, labor, and housing; the minimum wage should hold to prevent inflation and maintain economic stability.
Supporters of raising minimum wage claim it will help low income and middle income workers afford their basic needs. For instance, research shows “An increase to $10.10 an hour as proposed by President Barack Obama would restore the wage floor to the same value it had in the 1960s” (“Should the federal”). When the minimum wage is substantially increased, it helps people move from the lower class to the middle because their pay raises. However, raising the minimum wage also forces business owners to cut staff and increase the prices of goods and services to remain profitable.
The supporters of raising the minimum wage need to understand that raising minimum wage will decreasing job creation…