Should The Minimum Wage Be Raised

Lowering the minimum age can cause many problems towards the people in society. Although some may think raising the minimum wage can benefit them, they have not factored in that the economy can drastically changes An increase in minimum wage would cause unemployment and inflation. The unemployment would increase, especially those that are unskilled and have little or no experience. According to the Wage Gap, “The simple rules of supply and demand dictate that any increase in the minimum wage that expands the gap between the market wages and statutory wage will increase the level of employment” (Epstein 10). As the minimum wage increases, it causes a drastic change towards society. One of them is increasing the level of employment and hiring individuals that are older and experienced. The competition of jobs will increase, since employers
If the minimum wage increases, some employers would even have to cut down on the staff and keep the top two or three. For example, imagine there is a job opening and it is between a former schoolteacher and a teenager. Obviously, the employer will choose the more sophisticated and experienced over the possible irresponsible and unmotivated teenager. Most teenagers will not get the chance to prove to themselves and others that they are able to work hard and stay committed. Also, many businesses are trying to spend less money in general, which means cutting the workers and investing in new technology that no longer need any workers. Moreover, “ the unemployment directly and indirectly cause by raising the minimum wage will require additional government welfare spending and thus higher taxes and/or greater budget deficits to finance it” (Reisman 4). The more people that become unemployed, the more government welfare would have to pay more. Therefore, as welfare loses money,