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Pros And Cons Of Raising Minimum Wage

565 Words3 Pages

THE MINIMUM WAGE SHOULD NOT BE RAISE.

Many believe that raising the minimum wage would benefit the lower socio-economic class or that it would boost the economy but it would in fact do the opposite. By raising the minimum wage it makes it more expensive to hire workers, in order to hire more workers a business owner has to either reduce individual worker hours, increase product prices or take money from himself in order to cover for the cost of labor. This puts low skilled people or low educated people at risk of losing their jobs and could prevent the people who need a job from getting one as well, it could also hurt the middle class because they would not get a raise to compensate and would have to pay more taxes to cover the welfare …show more content…

The case for a raising minimum wage becomes significantly weaker when you stop to consider that there are immensely better options for directing cash than low-pay family units. For instance, the unprejudiced Congressional Budget Office has found that extending the earned wage charge credit is an a great deal more productive approach to battle neediness than expanding the minimum wage, also increasing the minimum wage could lead to inflation, raising the minimum wage and more government intervention things such as price controls is not such a good

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Some Americans argue that the wage isn't high enough to support themselves or a family. On the other hand, there is also many people who oppose the heightening of minimum wage. The federal minimum wage should not be raised because it would hurt small businesses, increase unemployment rates, and decrease youth employment. If the federal minimum wage was to be increased, small businesses would take the hardest hit.

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