Minimum Wage Good Enough

Is the federal minimum wage good enough for the economy? “The supporters believe that the minimum wage helps reduce unemployment and alleviate the effects of poverty by putting more money in the hands of workers and increasing their ability to afford basic costs of living, like housing and food. Meanwhile, the opponents believe that the minimum wage increases unemployment among low-income workers” (Federal Minimum Wage 1). I believe that federal minimum wage is definitely not good enough for the economy. In the state of Missouri minimum wage is $7.65; people have bills such as rent, car payments, insurance, electric, etc. many people can not live off of that and it is because it is not enough. Minimum wage is very difficult to live off and

They end up losing the money because they have to pay people more. When they pay people more it is less money that the company will have. The company will also not want to give raises as well because they are already having to spend more money on their payroll. That is why many companies will not want minimum wage to be raised. The government is distorting labor markets and ultimately making it harder for the poor to find work. The minimum wage is especially difficult on small businesses, and there is no evidence that it reduces poverty. (Federal Minimum Wage 1)
Finally, if we raise minimum raise it will make the economy better because people will have more money to spend. When people have more money they will buy more products for business. When people buy more things other companies will make more money and that helps them. Another plus for raising minimum wage is that people who don't have that much money that have families and can only get a job that makes them minimum helps them pay more pills and put food on the table. It would help many people out if we at least raised it by a dollar. That doesn't seem like much but after a while an extra dollar adds up