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Essay / Should the minimum wage be increased? - 1222
Should the minimum wage increase to $10.10 an hour? This has increased over the years and everyone has their own opinion. Those who favor raising the minimum wage to $10.10 say more money would reduce poverty and unemployment rates. Those who oppose raising the minimum wage believe that it should not be increased and should remain the same because it would cause businesses to close because they are not making enough money to survive in the economy. An increase in the minimum wage would make employees work harder to increase the company's sales. I believe the minimum wage should not increase to $10.10. Raising the minimum wage would affect employees. Supporters believe that raising the minimum wage will improve people's lives. We live in a consumer society. People who earn more spend more on products and services. As the BuzzFlash headline states, “a higher minimum wage would create more than 100,000 new jobs nationwide” (BuzzFlash headline). Families could use the money they earn to save for important things such as bills. If they wanted, they could also buy more groceries or appliances. Non-supporters believe that raising the minimum wage will lead to many job losses. According to the Economic Policy Institute, “during the phase-in period, GDP would increase by approximately $22 billion, resulting in the creation of approximately 85,000 net new jobs over this period. » (David Cooper). If a family business has to increase the wage rate it pays, it may not hire as many people as it usually does. Businesses across the country would be affected by a minimum wage increase. According to CNBC, "The big divide between businesses and economists over the impact of the increase...... middle of paper....." Minimum wage increase will hurt more than 'she won't help. Cato Institute. Detroit News, April 9, 2013. Web. April 21, 2014. Shierholz, Heidi. “Teen Jobs and the Minimum Wage.” Economic Policy Institute. Np, November 25, 2009. Web. April 21, 2014. .Sperling, Gene and Alan Krueger. “Raising the minimum wage is good for the economy.” The White House. The White House, July 24, 2013. Web. April 21, 2014. .Strachan, Maxwell. “Obama's $10.10 Minimum Wage Would Fundamentally Change America.” The Huffington Post. TheHuffingtonPost.com, November 8, 2013. Web. February 19. 2014.