Should The Minimum Wage Be Raised?

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Should the minimum wage increased to $10.10 an hour? This has increased over the years and everyone has their opinions. Those who are in favor of increasing minimum wage to $10.10 believe that more money will decrease poverty and the unemployment rate. Those who oppose the increase in the minimum wage, believe that it should not be increased and should stay the same, because it will cause businesses to close up because they are not making enough money to survive in the economy An increase in minimum wage would have to make the employees work harder to make increase sales of the business. I believe that the minimum wage should not increase to $10.10. Raising the minimum wage would affect employees. Supporters believe that raising minimum wage will improve people’s lives. We live in a consumer society. People who earn more spend more on products and services. As stated by BuzzFlash Headlines, “Higher Minimum Wage Would Create Over 100,000 New Jobs Nationally” (BuzzFlash Headline). Families would be able to use the money they earn to save for important things such as bills. If they wanted to, they could also buy more groceries or appliances. Non-supporters feel that raising the minimum wage will create many job losses. According to Economic Policy Institute, “Across the phase-in period of the increase, GDP would grow by about $22 billion, resulting in the creation of roughly 85,000 net new jobs over that period.”(David Cooper). If a family owned business has to raise the wage rate they pay, it is possible they will not hire as many people as they usually do. Businesses across the nation would be impacted by raising the minimum wage. According to the CNBC, “The great division among businesses and economists over the impact of raising... ... middle of paper ... .... "Raising Minimum Wage Will Hurt More than Help." Cato Institute. Detroit News, 9 Apr. 2013. Web. 21 Apr. 2014. . Shierholz, Heidi. "Teenage Jobs and Minimum Wage." Economic Policy Institute. N.p., 25 Nov. 2009. Web. 21 Apr. 2014. . Sperling, Gene, and Alan Krueger. "Raising the Minimum Wage Is Good for the Economy." The White House. The White House, 24 July 2013. Web. 21 Apr. 2014. . Strachan, Maxwell. "Obama's $10.10 Minimum Wage Would Fundamentally Change America." The Huffington Post. TheHuffingtonPost.com, 08 Nov. 2013. Web. 19 Feb. 2014.

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