Essay about Minimum Wage Is The Lowest Amount Of Payment Permitted By Law

Essay about Minimum Wage Is The Lowest Amount Of Payment Permitted By Law

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Minimum wage is the lowest amount of payment permitted by law. It protects wage workers from being ripped off or taken advantage of, and if a company wishes to pay them more, then they are free to do so (Cornell University Law School). There’s a political movement that’s currently sweeping across America calling for a raise in minimum wage. Many wage workers want to make more money, which would mean redistributing the income of a company; taking some away from other aspects of the business and giving it to the workers. The hope behind this idea for supporters is that raising minimum wage would be a way out of poverty or financial hardship for them and their family. The average minimum wage for states throughout the country ranges from $7.25 to around $10 an hour, which for many people isn’t nearly enough money to live a comfortable life (National Conference of State Legislators). However, this does not mean that raising minimum wage would be a good thing for the country, or even for the wage workers themselves. In fact, there’s numerous reasons why raising the federal minimum wage would be harmful to American businesses, workers, and consumers. For starters, if the minimum wage were to be raised, then companies would respond to the added payroll by laying off employees, including teenagers who are attempting to find a starting job (The Effects of a Minimum-Wage Increase on Employment and Family Income.). If companies choose to keep their employees, then they’re forced to either raise the prices of their products in one form or another, or they have to cut benefits to their workers (Sean Williams). Regardless of which way companies would choose to adapt to the new minimum wage, it wouldn’t be a good situation for anyone.
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...make decisions that hurt their employees or the consumers. Employees would either lose benefits to balance out their new higher wages, or the consumer would be take a hit (Sean Williams). Companies would be forced to either raise the price of products or reduce the quality or size of the products they’re selling to make up for the losses (Greg McClure). After looking at all the research and projections done to try to analyze the effects of raising minimum wage, and to predict how it would help workers and businesses, there’s far too many negative consequences that would follow the raise. Nobody gains from it besides those who would be lucky enough to hang on to their jobs after the cuts that would most likely occur. The workers, businesses, and consumers would all take a hit, and for that reason, raising the federal minimum wage would be a very harmful law to impose.

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