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Minimum Wage Argument Analysis

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Minimum Wage Argument Analysis
Should minimum wage be raised or should it stay the same? This has been a long debated question throughout decades. Janice Steele, writer of “Keeping the Minimum Wage Where It Is” claims raising minimum wage would be bad for consumers, the economy, and small businesses. However, Ira Knight, writer of “Let’s Make Minimum Wage a Living Wage”, defends why raising the minimum wage would help improve our economy and workers. With that being said, both arguments are strong, but Ira Knight’s argument had more reliable resource then Janice Steele did in her post. To begin, Ira Knight presents more than three current and credible studies where Janice Steele only presented one. For example, Ira Knight found a 2011 study from the Chicago Federal …show more content…
Stating that, “Most minimum wage workers are employed by small businesses with less than 500 people”. Whereas, Ira knight speech states that the first six months of 2014 “with raised minimum wage has seen more job growth then those that keep it the same”. With another study from 2014 Center for American Progress that” an increase in minimum wage would remove 3.5 million people from Supplemental Nutrition Assistance Program”. With this being said, this would giving people enough funds live. Janice Steele believes “raising the minimum wage would cause higher cost to consumers in the form of higher prices”. On the other hand, a study in 2011 from Chicago Federal Reserve Bank found “increasing the minimum wage leads higher consumer spending”. With that being said raising the minimum wage would defiantly increase consumer buying. Providing that, the study also showed “increasing minimum wage results in $2,800 in new housing spending within the next couple years”. Ultimately, raising the minimum wage is beneficial to our consumers. Given these points, “Let’s Make the Minimum Wage A Living Wage” had more reliable facts on why it should be raised. While Janice Steele’s post had some good arguments to “Keeping minimum wage Where It Is”, Ira knights, speaking at the political rally, proved to be more convincing. As previously stated, Ira knight supported her claim with stronger
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