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Should Minimum Wage Be Raised Essay

808 Words4 Pages

In today’s world, there is a rising controversial question, should minimum wage be raised. There are several statistics defending each side of this issue. Some people, for example, that raising the minimum wage could benefit so many individuals provide for themselves and for their families. While on the opposing side people say that raising the minimum wage could potentially ruin small businesses. Today’s minimum wage is $7.25. This has been the minimum wage for the past seven years. During these past seven years, “The cost of life 's essentials have shot up. Groceries cost 20% more, a gallon of gas costs 25%more, and average tuition at a community college increased 44%.” (Quinn, Castle, LaTourette, Morella” The price of living sky rocketed and the price for working still remains the same. If the minimum wage increased to today’s …show more content…

Dunkelberg states that raising the minimum wage could possibly destroy small businesses. If small businesses were to raise their minimum wage above ten dollars they will either have to fire some employees to make up the difference of the raise or they will have to raise the price of the product they are trying to sell. Just because the government were to increase the minimum wage does not mean you will get more work or better work out of the that individual so that business may need all of their employees. Because maybe they cannot afford to lose one so in return they would have to raise their prices, but the issue with that is maybe raising the price higher might just be enough to chase away customers to chain stores such as: Target, Walmart, or Kohl 's. That may mean their small business might close, just because they cannot financially support raising the minimum wage. Another reason a small business might close is not because they could not afford, but because they were not making a lot of money so there was no point to it

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