Jamie Richardson, MBA Vice President of fast food chain White Castle, states that the company would be forced to close almost half its stores and let go thousands of workers if the federal minimum wage were raised to $15. Her story is much like how many others would be if the minimum wage were raised. This is why it would make the situation worse by raising it. Even though proponents believe that they would be doing them a favor by giving them more pay, they are really not helping anyone, including themselves. The minimum wage should not be raised because of the loss of jobs, increase of market prices, and the issues that will be caused.
First and foremost, job loss would hurt the economy if minimum wage was raised. James Sherk, the author
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For example, in the 1970’s, Congress imposed the federal minimum wage in Puerto Rico, where wages had been lower than that, and Anne Krueger, a former World Bank chief communist found this had significantly contributed to its economic weakness. For this reason, we now know that raising the minimum wage can disrupt the economy, so why do something we know is going to hurt us? Another fact on why this would generally be a bad idea is that many less-skilled workers are not-at least not yet-very productive, productive enough to get 15 dollars an hour. Therefore, companies will not give people jobs that will make less value than they create, leaving many Americans unemployable, according to Lucy Schouten. This example proves my point on how this will disrupt the economy because instead of the low wage workers getting a little income, they will instead get no income. Generally high competent workers, as said by Andy Pudzer, contribute more to a company's success than the minimum wage workers do, because entry level workers are often less experienced than the more highly competent workers. This shows that since the low wage workers often do not know what they are doing, they get paid for the amount that they contribute to the