Why The Next President Should Raise The Minimum Wage

In the last few years, the topic of the minimum wage has been a highly debatable subject. There are numerous perspectives regarding raising the minimum wage. “The concept of the minimum wage can be defined as the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period,” (ILO,2014). A few of the common disagreements are how unemployment rates will be affected, who will be most affected by a change, and what alternatives are available. In the article “Why the next president should raise the minimum wage” Roger Lowenstein argues that it is his belief that raising the minimum wage will benefit society by reducing unemployment rates and thus reducing the amount of the population living in poverty. However, in the article “Why we shouldn’t raise the minimum wage” it is conversely argued by Kevin A. Hassett and Michael R. Strain that a

Lowenstein believes that raising the minimum wage at a slow and steady pace would benefit unemployment rates and employers. “In effect, a minimum wage nudges employers to adopt a pay scale where they, also, are better off,” (Lowenstein, 2016). Business owners hire people when they feel it will enable them to serve a higher number of customers. “A business that is humming will not sack a worker just because the minimum wage is lifted by a buck,” (Lowenstein, 2016). This statement is implying that the minimum wage does not necessarily correlate with unemployment rates increasing. In this article, it is also stated that employers feel a responsibility to increase pay for workers further up the scale. Therefore, showing appreciation to their more tenured and skilled employees. This has the effect of improving the quality of life for many individuals. It is pointed out in the article that adjusting for inflation the minimum wage is federal minimum wage is currently lower than in