Essay On Should Minimum Wage Be Raised

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Many people can argue the topic of which minimum wage should be raised or not. Most people want the minimum wage to be raised because you can’t raise a family nor live off of money from a minimum wage job. On the other hand, people can argue that teenagers that have little to no experience should not make as much money as a 35 year old, with a degree from college. Minimum wage should not be raised because of the cause of job loss and inflation in our economy today. There are many reasons to back up this statement. The first reason is that many people will lose their jobs. As the document said from ebscohost “Tyler Sandberg, campaign manager for the opposition group, painted a bleak picture of the economy with a higher minimum wage, estimating the state would lose 90,000.” People will lose their jobs because the owner of the company will have to pay more money to the minimum wage workers, which takes profit away from the owner of the company, so to gain profit the owner will have to fire someone or raise the prices in the store. As an example a group in Cleveland was seeking to raise the minimum wage to $15. The got turned down because, “Council President Kevin Kelley along with Mayor Frank Jackson have repeatedly said, raising the minimum wage in Cleveland alone …show more content…
As it states on the document from Investopedia “In theory, raising the minimum wage forces business owners to raise the prices of their goods or services, thereby spurring inflation.” This all would happen to local businesses that can only afford paying their employees minimum wage. As it says from the journalist's resource website “Prices at those businesses could increase by an estimated 4.3 percent, according to the report.” Although in many cases can raising the minimum wage not cause inflation, in many more cases it will. The safer way to keep our economy intact is to keep it the way it