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Pros And Cons Of Increasing Minimum Wage

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I believe that Gov. Andrew Cuomo promise to increase minimum wage was a mistake that will in the long run hurt the economy. By increasing the minimum wage, he has benefited those who are granted to work at the firms that stay within the city limits. However he hurt the individuals who will be laid off due to increase in utility cost. Raising the minimum wage forces firm owners to either fire employees, increase consumer prices, or cut the hours of operation. At first the minimum wage seems very appealing to the Seattle community, but the cost of increasing the minimum wage has been seen already in the short term. I predict that restaurant owners will be closing their doors in New York because they will lose money running their business

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