Raising Minimum Wage Increase

“Today, in this fragile economy recovering from the recession, to raise the minimum wage would not create jobs but destroy jobs and increase the prices of goods and purchasing power of the people who you’d like to be helping, the disadvantaged” (Frist). Minimum wage is the lowest amount of money that can be distributed from a company to an employee from an act of labor. The purpose of minimum wage is to stabilize the economy and allow all workers to have the same minimum salary to live off of. Minimum wage can balance prices, reduce taxes, and makes it easier for unskilled and young employers to get a job. Although raising minimum wage will decrease the poverty rate, it will not be beneficial to the economy because buisness prices will increase;

An article states, “Employers might raise prices of their product in order to generate enough income to support their more highly paid minimum wage employees, which could ultimately create a ripple effect for other shops and industries, resulting in a slightly higher cost of living, resulting in another push to raise minimum wage again” (Halvorson). Some individuals believe that raising minimum wage will be beneficial to the economy because businesses will make more profit, which is true, but I believe that an increase in business prices will not be beneficial to the economy because the individuals with fixed incomes have to pay more for goods and services, which is not very fair to

Studies show that raising minimum wage can and can not be beneficial in many ways, but I believe that raising minimum wage will do more damage than benefit the economy. Raising the price of minimum wage has been debated over the years and it has not been increased in the past decades. Creating more jobs for individuals will impact the economy the most, which will ultimately decrease the national poverty rate. Overall, the raising of minimum wage will not beneficial. I would challenge individuals to lower minimum wage and provide more jobs for workers in