Raising Minimum Wage Essay

Would raising the minimum wage help the economy? Such a question exposes a massive controversy, one that involves every American citizen, and all who have opposing opinions regarding this economic debate. Most individuals would agree that a worker should be paid a sum equal to the quality of work they provide. Though this a nice concept on paper, its implementation is not as simple as one might assume. Although the intentions are true, raising the minimum wage could easily cause certain repercussions that could hinder the economy in ways that far exceed the potential benefits. Statistics regarding the advantages of raising the minimum wage do pose a strong position, and Jared Bernstein clarifies on this within his argument in the Pro/Con article given. His overall response states that, “In an economy driven in no small measure by consumer spending, moderately boosting the pay of low-wage workers with relatively high

It’s been said that raising the minimum wage would reduce poverty and boost the economy, and yet in reality, this isn’t the case. In fact, Holtz-Eakin states that “the minimum wage hike for one low-wage worker comes directly out of the pocket of another. Which part of that is anti-poverty and which part is stimulus?” In all reality, it puts pressure on the lower paying jobs that pay slightly higher wages than the existing minimum, as well as cause stress within the compensation structure of small businesses. Another fact to consider is that most minimum wage positions are intended to be an introduction into the work field for those seeking careers and are inclined to improve their circumstances. If there was some way to balance the idea of raising wages, and maintaining certain business structures, then maybe its implementation could pose as an asset rather than a