Raising Minimum Wage Essay

Words: 433
Pages: 2

Minimum wage is the minimum hourly wage an employer can pay an employee for work. The federal minimum wage is $7.75 an hour. For the average teenager, this hourly wage could be a gold mine, but for an adult with teeth cringing responsibilities’ and stress. This type of minimum wage could be life threatening. This on-occurring threat creates major controversy, and media attention. Now, what would happen if the government raised minimum wage prices? The fast-food chain restaurants are known for giving the lowest amount of minimum wage. In fact, people get their food from there, because of Quality but because its fast and cheap! The cheapness of fast food restaurants food, characterizes their market based human decisions. Meaning if the fast food cooperation’s were forced to raise minimum wage to at least $15.00, the cooperation’s could easily invest into newer technology. Such as automated screens. This would cut out the need for more employees, and would save a lot of money. Overall, the decision to raise minimum wage would have a terrible effect. Cooperation’s would only find a loop to the cheaper route! An oversight committee determines minimum wage full of lawmakers. …show more content…
Inflation in fast food cooperation’s would generally increase, because of the amount spent on employees have been raised, cooperate spending would have to reduce. To make better profit, fast food cooperation’s would raise their prices on their products. Which leads to economic growth- an increase in the amount of goods and services produced. Economic growth would increase, because of the cooperate spending. The unemployment rate would increase because of fast food cooperation’s investing in newer technologies to replace employees. This investment would save the cooperation’s move money, and could possibly increase cooperate