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Essay Against Minimum Wage

530 Words3 Pages

Throughout the past few years, the minimum wage has been a heated issue in the country. For some, the minimum wage should not be messed with, for it only brings economic harm through job loss and increase of product pricing. However, in this essay, I will shed light on the opposing arguments to the minimum wage debate, the side that believe minimum wage should increase. Minimum wage first started back in 1968 under president Franklin Delanor Roosevelt at the price of 1.60 dollars and has been a topic under debate ever since. Because almost 1.6 million hourly workers are receiving compensation based on the minimum wage, many feel strongly about its designated amount because of the increase of the dollar with inflation. If the wage were to be increase with inflammation, the wage of 1.60$ an hour in 1968 would transform into 11.05$ in today’s time. This is almost a 60% increase on the minimum wage that is in tact now(7,65). This issue has struck a cord with working …show more content…

Because of inflation, the prices of goods and services has gone up tremendously throughout american history, however, the minimum wage hasn’t. Since minimum wage only changes with congressional action, this results in a low amount of money for families that need to purchase essentials to live conformably. The increase would also boost the economy because of the more money going into these families and individual’s pockets, the more they are wiling to spend, thus creating more stores, jobs, and economic growth. According to the Economic Policy Institute, a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion into the economy and create around 85,000 new jobs over a three-year period. This would not only settle family and individual income disputes, but also prove to the other side of the argument that an increase of the minimum wage would not result in job

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