Minimum Wage-Too Low or Just Right?
Should the USA Raise the Federal Minimum Wage?
Should We Raise the Federal Minimum Wage? No!
Maintaining the federal minimum wage in the United States would preserve job opportunities, create an incentive for education, and benefit small businesses.
Why Would People Want to Raise it?
The minimum wage is currently a hot topic. Many people think that it should be raised, either to $!0, $12, or $15.
At first, raising it seems like a good idea. It would:
- Help families living paycheck to paycheck with minimum wage jobs get more money to live on.
- Increase business by putting more money in the pockets of consumers
34% of minimum-wage workers are the head of their family. (High school kids aren't the only ones with these jobs)
However, the other side (against raising the wage) has many supporting points that are often overlooked.
1. Increased wage = increased cost for employers
Businesses might choose to fire people so that they don’t lose money since they have to raise wages for their workers
A cut in jobs or even just hours for a job would actually make more people more dependent on government (which is what is trying to be avoided altogether.
A raise to $10.10 would likely reduce unemployment by 500,000 workers.
2. A higher wage would discourage education.
Current minimum wage workers often use their jobs as stepping stones to a higher-paying job.
People would be drawn away from professional fields and not pursue them.
Why be an RN with years of post-grad for $13/hr under a doc when you could work at
McD’s out of high school for $15/hr?
America would struggle to have enough doctors, lawyers, etc. Jobs that are much needed!
3. Small businesses would struggle to stay open.
Small, local businesses would have to raise prices more because it costs more for them to have goods delivered.
Higher prices = fewer customers
Fewer customers = less competition for larger businesses
Less competition = A spike in prices and more money that the consumer must pay