Raising Minimum Wage

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Minimum wage is a hot topic that is always being debated by many all over this country. According to Google.com, the definition of minimum wage is” the lowest wage permitted by law.” There are three laws controlling the rate of minimum wage being paid to a person. There is the federal minimum wage, state minimum wage, and local city or county minimum wage. There are many benefits just like there is much opposition to raising the minimum wage. This hot topic will always be a hard topic to agree on due to it creating the many different scenarios that will affect one group or another. It would be okay to raise the minimum wage if there were not so many consequences. Some of those negative consequences can be people getting laid off, while …show more content…

According to the U.S Bureau of Labor Statistics, “In 2011, 3.8 million American workers – most of whom were out of their teens – earned a federal minimum wage of $7.25 per hour or less.” So if the law is implemented, many business owners will have to lay off a percentage of people to be within their projected budgets. This will cause the number of employed people to drop from 3.8 million to an even higher than normal figure. Businesses have projected incomes that are stable and that grow at a very slow pace. It takes a long time and many changes for businesses to create new revenue, to pay the extra new wage that is required by the new wage legislation. In some drastic cases, the business owner will go buy machines to replace the work that was being done by humans. In other cases, business owners have exported work out to other low wage paying countries to be able to continue and by pass the new wage …show more content…

According to Nick Schultz, “People acquire lots of valuable human capital in their first jobs.” “Even if they are flipping burgers, pumping gas, or mowing lawns, they learn basic practical skills that stay with them and bolster their employability down the road: show up on time; work hard; help your colleagues; be polite; listen to your boss.” So the higher the increase in the minimum wage the higher the decrease of individuals learning the necessity soft skills that will be necessary for their next higher paying

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