As one gets older and discovers jobs, a part of the adult world, he or she may find that the amount of money he or she makes at minimum is a set value. This set value in the United States is called federal minimum wage. The current federal minimum wage as of July 24, 2009 is $7.25 per hour. At 40 hours a week for 52 weeks this is an annual salary of $15,080. At this value some argue that it should be raised to allow low-level employees to earn more, and to put more money into the economy. Some disagree with this and say increasing the minimum wage costs more for the employer and cuts jobs, increases inflation rates, and some even say these employees do not deserve to be paid more. However, minimum should not increase nor stay the same, it should decrease, by doing so would decrease employer costs allowing for more jobs, help reduce prices on goods, and will encourage employees to become more experienced and skillful to increase wage.
With the current minimum wage small companies can only hire so many employees before they can no longer afford any more help. If minimum wage was to be decreased then the employee expenses companies pay would decrease. As companies spend less and less on each of their employees, they have the opportunity to hire more people. When they can hire more people, they create more jobs
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As this trend spreads throughout the economy, the US dollar will increase in value. As this increases in value, the average family income will decrease. This, however, is not a bad thing. As this decreases, and along with the increase value of the US dollar, prices for goods and services will decrease. As well, when the US dollar increases in value it will help reduce the costs of foreign affairs and increase the demand for the dollar. With a lowered minimum wage, the value of the US dollar will increase, thus decreasing the cost for goods and services for the