Pros And Cons Of Minimum Wage

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Berlatsky, Noah. The Minimum Wage. n.p.: Detroit: Greenhaven Press, c2012., 2012. Joliet Junior College Library Catalog. Web. 1 Mar. 2016. “The Minimum Wage” asks questions of how minimum wage works for the employers from the lowest hourly, monthly wages they can squeeze in. Various issues are researched from a variety of different sources. Thus making the reader think more critically about the main issue at hand. There are different viewpoints regarding minimum wage even how it would work or not work in different countries. Caron, Victor. "Minimum Wage." Historical Encyclopedia of American Labor. Eds. Robert E. Weir and James P. Hanlan. Santa Barbara: ABC-CLIO, 2004. Credo Reference. Web. 1 Mar. 2016. Victor Caron goes in some detail and gives…show more content…
One major pro would be reducing inflation. With the minimum wage only increasing three times over the last three decades the minimum wage is due for an increase. However, with the increase of minimum wage might come with an increase of everything else thus making the increase meaningless and make a call for a new increase and creating a viscous cycle. Holtz-Eakin, Douglas, and Ben Gitis. "The Employment and Income Effects of Raising America 's Minimum Wage to $12 and to $15 per Hour." American Action Forum. American Action Forum, 27 July 2015. Web. 01 Mar. 2016. The American Action Forum believes that raising the minimum wage can do more harm than good and hurt the people it’s supposed to help. Job loss in the millions would happen if the wage was raised from $7.25 to $15. People in poverty before the increase would have trouble finding jobs because companies would have to have less positions to counter the wage raise. Komlos, John. "Column: Why Raising the Minimum Wage Is Good Economics." PBS. PBS, 15 Dec. 2015. Web. 01 Mar.…show more content…
"Reducing Poverty Via Minimum Wages, Alternatives." FRBSF Economic Letter 2015.38 (2015): 1. MasterFILE Premier. Web. 1 Mar. 2016. If the minimum wage is raised to as high as $15 would it reduce the dependency of programs that help the poor? An induvial making a minimum of $10 to $12 an hour does not necessarily means he is poor but in a family where children need support puts that family close if not under the poverty line. Neumark believes it’s better to raise the EITC than minimum wage because its implications to businesses and the consumer. Scheiber, Noam. "Raising Floor for Minimum Wage Pushes Economy Into the Unknown." The New York Times. The New York Times, 26 July 2015. Web. 01 Mar. 2016. Republican states vs democratic states have recently changed their minimum wage but republican states are holding strong not to raise the minimum which is $7.25. By 2020 democratic states want their minimum wage to be $12. Researchers tested the effects of moderately raising the wage and found that it will hardly affect job loss. Weissmann, Jordan. "Should We Raise the Minimum Wage? 11 Questions and Answers." The Atlantic. Atlantic Media Company, 16 Dec. 2013. Web. 01 Mar.

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