Tuesday, December 10, 2013

Minimum Wage

I do not believe that we should raise minimum wage. If we raise the minimum wage to 15 dollars it will be harder for companies to pay all of there workers so they will probably have to lay people off. This will the raise unemployment. Also raising the minimum wage will cause the difference between rich and poor to increase. Also it will make it harder for unskilled workers to get jobs.
Also it is more expensive generally to live in an area with a higher minimum wage and the pverty is generally higher in those areas.
According to (www.aei.com) "The case against raising the minimum wage is straightforward: A higher wage makes it more expensive for firms to hire workers. How big an effect does this have on the job market? Economists debate this. But no one argues that increasing the minimum wage increases the number of unemployed workers who find jobs. In the end, the trade-off is clear. People who keep their jobs get more money; those who lose their jobs, or fail to get new ones, suffer." This is exactly why raising minimum wage is to harmful. It is going to cause more families to struggle instead of prosper.

http://www.forbes.com/sites/williamdunkelberg/2012/12/31/why-raising-the-minimum-wage-kills-jobs/
http://www.bloomberg.com/news/2013-01-03/two-reasons-not-to-raise-the-minimum-wage.html
http://www.aei.org/article/economics/fiscal-policy/labor/why-we-shouldnt-raise-the-minimum-wage/

No comments:

Post a Comment