The Pros And Cons Of Minimum Wage

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What is minimum wage, and why should it not be increased? Per Dictionary.com, Minimum wage is the lowest wage payable to employees in general or to designated employees as fixed by law or by a union agreement. Minimum wage should not be increased past the equilibrium of the economy for many reasons. If increased, numerous complications will arise. For starters, due to inflation employers will begin to lose customers, causing them to raise the prices of their product. Moreover, employers are more likely to reduce the amount of employees they have, as well as the amount of hours their current employees work. There will not only be a reduction in the amount of low wage workers but in higher wage workers as well. Higher wage workers will begin to demand an increase in their wage due to an inflation in the economy. Another disadvantage would be the lack of importance in gaining a college degree, or even graduating high school, due to being supported by a minimum wage job. Raising the minimum wage may initially benefit those who live in poverty. However, ultimately the disadvantages …show more content…

In the article “Minimum Wage,” Barbara Mantel explores the views of her opponents who would like to see minimum wage increased, and states ‘that it would lead employers to automate workplaces and reduce job opportunities for the lowest-skilled workers, while doing nothing to reduce poverty or help the economy.’ Supporters of the increase in minimum wage do not realize that while helping some portion of the working-poor, the increase will not help those who fall into the non-working poverty category. One of the arguments of the opponent is to decrease poverty in America. However, increasing minimum wage is not going to do that because the minimum wage was created to make the labor structure fairer, not to alleviate poverty

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