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Pros And Cons Of Raising The Minimum Wage

584 Words3 Pages

Terry Hayes, Dan Jordan, Victor Grant
Ben Zauski
ECN 207
23 August 2017
Raise, Keep the Same or Lower Minimum Wage?
Dan, Victor, and I through our discussions regarding minimum wage have agreed that the minimum wage should remain the same. There are many different viewpoints regarding on this topic from raising it and keeping it the same. We have never heard any persuasive that lead us to believe that it would be good for anyone to lower the minimum wage. We also believe that an increase of the amount of inflation would be acceptable as a yearly increase, but cannot agree with raising it in one lump sum. The impact of a substantial increase to the minimum would be too great for many small businesses, and the unemployment rates would be greatly impacted, as well as financial assistance for those below the poverty level.

“Minimum wage was started in 1938 with the passage of the Fair labor Standards Act and has been increased 22 times since” (Pros and Cons of Raising the Minimum Wage). “The most recent adjustment was in 2009” (Pros and Cons of Raising the Minimum Wage) To increase the minimum wage at the current levels being …show more content…

For instance many businesses would most likely have to reduce staffing which would increase unemployment to offset the increased wages. Automation would also come in to play with increased wages. You would begin to see less waiters and waitresses because they would be replaced with POI systems where the customer would order food right at their table, sending the order directly to the kitchen to be cooked. In the fast food industry the way food is processed or cooked may also become affected . Robotic flippers would replace traditional cooks. The increase in minimum wage would also increase the number of jobs moved to other countries where the wages are drastically lower than here in the US. These are just a few examples affecting

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