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Raising The Minimum Wage Essay

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Jon Corzine once said, “No family gets rich from earning minimum wage. In fact the current minimum wage does not even lift a family out of poverty” (Brainy). Kids are struggling to get through college, parents are having trouble providing for their family all due to their low wage jobs. Teenagers are the most common individuals to get minimum wage jobs and with these people going to college, it is nearly impossible to save enough money. When thinking about raising the minimum wage, one has to realize the work shift change in hours. Due to these problems, there has been controversy about why the minimum wage should stick where it is, raise the minimum wage to $15 an hour, and increase by a percentage based on the economic growth.
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Minimum wage should be changed year to year relating to how much the economy grows. With raising the minimum wage, the cost of hiring and training new employees will be more expensive for the company. There will be an increase in unemployed workers due to company’s having less money for employees. A lot of the people who live in poverty are not the ones working. With only 11.3% of workers being affected by minimum wage they are the ones living in poor households trying to raise families (Hassett). Raising the minimum wage will not alleviate poverty. If one were to raise the minimum wage by a percentage based on the economic growth, companies could cooperate and will not be financially unstable. When the economic is growing, companies will make more money, allowing them to give bonuses or raising wages of their employees. The economy has grown 2.3% in the past year (BEA). Creating a 2.3 percent increase would be financially stable for companies and not hurt the economy. A proposition of increasing the minimum wage by a percentage based off of yearly economic gross domestic product growth should be implemented. Raising the minimum wage would be beneficial to parents trying to provide for their families and college kids working hard to pay for

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