Persuasive Essay On Raising Minimum Wage
700 Words3 Pages
What would be so bad about raising the minimum wage? Minimum wage is the lowest payment that employers can legally pay their workers. There are many downfalls in raising the minimum wage from it increasing poverty to it decreasing employee benefits. Increasing the minimum wage would make it more difficult for employers to hire younger and low-skilled workers, employers would have to fire people who currently earn minimum wage. “There are better ways to help the poor” (Doyle). I am against the government raising the minimum wage. Raising the minimum wage would decrease employee benefits and increase tax payments. According to James Sherk, at the Heritage Foundation, a single mother working full time and earning the federal minimum wage of $7.25 an hour would be over $260 a month worse off if the minimum wage were raised to $10.10 "While her market income rises by $494, she loses $71 in earned income tax credit refunds, pays $37 more in payroll taxes and $45 more in state income taxes. She also loses $88 in food stamp benefits and $528 in child-care subsidies. Also, 40% of CFOs would reduce employee benefits if the minimum wage were raised to $10 an hour” (“Increasing the Minimum Wage: Pros & Cons.”). Increasing minimum wage will make it more expensive to hire younger and low-skilled workers (Doyle). Higher minimum wage rates can make employers cut down on hiring teenagers who usually fulfil lower positions. According to the Bureau of Labor Statistics, 32.6 percent of