Minimum Wage: Killing America

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Minimum Wage: Killing America
Imagine that Bob is the owner of the local laundromat. He makes enough money to pay five people $7.35 an hour. Bob is barely breaking even in his business but still manages to get by. Now think about what a $9.00 starting base salary looks like. That is almost two more dollars an hour and now Bob has to cut 3 people so he can pay rent and function his store. He now has to work twice the shift while paying two people; money he can pay for three people. As one can see, increasing minimum wage might seem good for the economy, but this simply is not true. There are too many detriments for there to be an actual benefit. Increasing the minimum wage is not what America needs, if anything it should be lowered. It should not be increased because it would hurt the economy, there would be less jobs in America, and the majority of poor Americans do not work; therefore it would not benefit them at all. The economy of the United States is currently not doing well and there is a debate happening about whether the minimum wage should be increased or decreased. The minimum wage is a known price floor, "which sets a minimum price that an employer can pay a worker for an hour of labor" (O'Sullivan and Sheffin 130) and that is what our economy needs right now, not a price ceiling which is "a set below the market price, then a "shortage" is created; the quantity demanded will exceed the quantity supplied" (Investopedia). The minimum wage should be lowered rather than increased because that will only lead to negative side effects. For example, if the minimum wage is increased then the government will need to print more money and that means inflation will happen. This will cause the American dollar to go down and cause the economy to suffer even more. Another thought is that the United States needs jobs. If the minimum wage is increased then existing jobs will want their workers to have more experience. Those people that need a job will have a much lower...
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