Pros And Cons Of Raising Minimum Wage
Should Minimum Wage be Raised?
Some people believe that raising minimum wage will help with economic growth, while others believe that minimum wage would do the opposite and actually force the manager to lay off many employees and raise unemployment levels. After researching both sides of this argument I believe that minimum wage should not be raised because after the price is higher, the company will not have enough money to pay all their employees and would have to make sacrifices such as laying off employees and maybe replacing them with machines so they don't have to pay them. If the minimum wage is raised many bad things could happen because of it. I think that raising the minimum wage should not be raised because it could mean many …show more content…
I disagree. Instead of reducing income inequality, the raise of minimum wage would actually drastically change how much people get. Some people who are currently working minimum wage, like unskilled workers, would now get more money than they usually get, but they could get fired because they are not doing the best job and not working well enough to get the bigger amount of money. For example, a person who is working to pick up trash in the park is currently getting 7 dollars an hour, after the minimum wage is raised the person would now get 10 dollars an hour which is 3 dollars more that they would get normally. Since the person is an unskilled worker and this is the only job he can get, the park owner might agree that instead of paying the unskilled worker 10 dollars, he might as well pay a better skilled worker who picks up more trash per hour and is worth the new price raise. In result of this, the other person with less skills would actually get fired and not get payed at all. This would change income equality to be even more that it would normally. The other claim people make is that raising the minimum wage would lead to a healthier environment. This is not true. With all the unskilled workers and people who the company cannot afford to keep working will all be unemployed and they would not get any money. With no money the people who got fired would still have to take care of themselves and their family, using money. After some time, the unemployed person would not have enough money to feed himself and he would try to get a job. This would have a very low chance of working out because people who usually pay 7 dollars would not have to pay 10 dollars for a small job.
Some people believe that raising minimum wage will help with economic growth, while others believe that minimum wage would do the opposite and actually force the manager to lay off many employees and raise unemployment levels. After researching both sides of this argument I believe that minimum wage should not be raised because after the price is higher, the company will not have enough money to pay all their employees and would have to make sacrifices such as laying off employees and maybe replacing them with machines so they don't have to pay them. If the minimum wage is raised many bad things could happen because of it. I think that raising the minimum wage should not be raised because it could mean many …show more content…
I disagree. Instead of reducing income inequality, the raise of minimum wage would actually drastically change how much people get. Some people who are currently working minimum wage, like unskilled workers, would now get more money than they usually get, but they could get fired because they are not doing the best job and not working well enough to get the bigger amount of money. For example, a person who is working to pick up trash in the park is currently getting 7 dollars an hour, after the minimum wage is raised the person would now get 10 dollars an hour which is 3 dollars more that they would get normally. Since the person is an unskilled worker and this is the only job he can get, the park owner might agree that instead of paying the unskilled worker 10 dollars, he might as well pay a better skilled worker who picks up more trash per hour and is worth the new price raise. In result of this, the other person with less skills would actually get fired and not get payed at all. This would change income equality to be even more that it would normally. The other claim people make is that raising the minimum wage would lead to a healthier environment. This is not true. With all the unskilled workers and people who the company cannot afford to keep working will all be unemployed and they would not get any money. With no money the people who got fired would still have to take care of themselves and their family, using money. After some time, the unemployed person would not have enough money to feed himself and he would try to get a job. This would have a very low chance of working out because people who usually pay 7 dollars would not have to pay 10 dollars for a small job.