Raising The Minimum Wage Essay

“Fight for $15” protests have been occurring across the nation. These are a large group of people who beleive that the minimum wage should be increased to $15 an hour. Raising the minimum wage from $7.25 to $15 would cause many problems such as, consumer goods rising in price, employment falling, and other jobs would be forced to raise their salaries. Many people have a hard time surviving on the current minimum wage, that is why they believe it should be raised to $15 an hour; however, doing so would in turn cause the price of consumer goods to escalate. This would just bring them back to their current situation. The things that people cannot afford on $7.25 would eventually be too expensive for them making $15. James Sherk from the Heritage Foundation says, “Most minimum-wage employers are small businesses. Their profit margins are too small to absorb large wage increases”(Sherk). He also further states his point by suggesting that, “Economists find that businesses pass minimum-wage costs on to their customers by raising

Raising the minimum wage will cause many people to lose their jobs, prices to escalate, and may force other professions to raise their pay. However, if nothing is done, many people will continue to struggle day-to-day, check-to-check. While raising the minimum wage has a lot of problems, I believe there is one way everyone can be happy. Boost the economy. By boosting the economy money goes back into the country and in turn, lower the cost of living. In order to do this, everyone needs to start buying things made in America. People need to stop importing goods, and start shopping locally. By doing so, the money people spend stays in America. Although it may be a little more expensive now, this will eventually cause inflation to decrease. This will also cause an increased demand for workers to produce and sell more product. A wage of $7.25 would be more than enough to live off