Raising minimum wage will improve living standards in the society by creating new jobs and increasing the consumer spending. We are often told that increasing the minimum wage will destroy jobs by making workers more expensive to hire. However there is quantitative data showing that increasing minimum wage will have a positive effect in the employment rate. Wessmann quotes The Economic Policy Institute releasing a report estimating “that raising the federal minimum wage to $10.10 an hour, up from $7.25 today, would add an additional 85,000 jobs to the economy” (Would Increasing the Minimum Wage Create Jobs? n.page). There are a couple explanations making a connection between increasing the minimum wage will create job opportunities in the united states. The key is that “poor and middle class families tend to spend mo...
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...fare spending” Ben Gitis. There is a relationship between the negative effects of increasing the minimum wage and the funds for the government spending on welfare programs which attempts to help low income families.
To conclude, I have to realize that the opposing side have a very convincing and concrete argument, however I still consider my point the best in this discussion. Raising the minimum wage is hurting the economy in such a way that many people will lose their jobs, and will not be able to support their families, since employees are more expensive to hire and employers will require someone capable to do certain job according to the paid position. Also, raising the minimum wage is causing the government to cut the fundings for welfare programs putting low income families to struggle and lose the benefits that might help families to survive in this country.
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