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Benefits Of Minimum Wage

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Benefits Of Minimum Wage
Minimum wage has always been a popular topic amongst discussion always staying quiet relevant. Whether one may be protesting for an increase or arguing against it, there are always very strong argumentative points on both sides in the war of minimum wage. Currently there have been large protests in many states for the minimum wage to be raised to $15. The idea is that an increase in minimum wage would potentially be beneficial to lower income families, however there is also some economic risks involved with a wage increase. Sometimes a wage increase is necessary due to inflation, however such a dramatic increase it could cause problems for the United States economy. Despite a $15 minimum wage being possibly beneficial to lower income families, a minimum wage increase would be detrimental to the United States economy because it would cripple smaller businesses, create an increased use of automation, and increase unemployment in minority youth.
The Former CEO of McDonald’s says that a minimum wage of $15 would be a job killer. “You talk about going from an average wage of $10 up to $15 for a new minimum, you’re talking about a 50% increase in wages. You look at that. Small business is going to get crucified with these rules, the joint employer stuff, the union organizing, …show more content…
With an increase to minimum wage many older more experienced workers would be attracted to high paying entry level jobs. This could greatly hurt the opportunities of black teenagers. “The unemployment rate for African Americans ages 16 to 19, while down by almost half from 2010, still stands at 25%. That compares to 13.9% for white youth and 15.6% for Latino youth.” Another possible issue faced with the increased wages may cause teenagers to leave school early interrupting their education. If students are leaving school early that could hurt the growth and the economic structure of our
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