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Raising The Minimum Wage

929 Words4 Pages

The debate over minimum wage has been a long-standing issue that has been argued in politics and between people of our country for years. The debate is over whether the government should raise the minimum wage from what its currently priced at. Supporters of a minimum wage increase feel that the working poor will be able to spend more money, and be more financially independent. This will in turn help businesses and the local economy. Supporters believe that raising the minimum wage will positively affect the economy. The individuals that are not supporters of the minimum wage increase feel that an increase, (while it is helping low-income individuals) will make it more difficult for companies and businesses to succeed. Anti- supporters believe that due to the fact that company owners would have to raise wages or prices of their products in order to make profits, this could eventually lead to the business closing. This could then lead to a “trickle-down” effect for the rest of the economy. Anti- supporters believe an increase in the minimum wage will negatively affect the economy. Both sides of the debate will be explored in this paper. For those who argue against raising the minimum wage, their main argument is based around the fact that it will cause unemployment, or decrease employment. Businesses will have to start cutting the hours of employees in order to stay profitable. They will also need to raise their product prices to continue profitability. One major advocate

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