Why The Minimum Wage Should Not Be Raised
Minimum wage against our economy
Every day small businesses are being closed all around the United States. People’s lives are being changed and destroyed every hour. What is the one common cause? Raising the minimum wage. Raising the minimum wage is an evergoing danger that Americans must fight against. The minimum wage has the ability to ruin or stabilize our economy. The government must be more cautious in its implementation of the minimum wage. The minimum wage should not be raised because it will increase inflation, take away jobs, decrease job opportunity for untrained individuals, and hurt small businesses. A rising minimum wage will result in a higher price of goods and raise inflation of our economy. Increasing the minimum wage …show more content…
A former CEO of one of the largest international companies, McDonalds, has publicly expressed that too high of a forced minimum wage will overall result in major job losses across the United States. The former CEO, Ed Rensi, believes that a higher minimum wage would kill existing jobs and also close up twenty percent of small businesses (Ex-McDonald's CEO...). Closing 20% of the United States small businesses would overall increase unemployment as many individuals are employed under small businesses. There are different forms of combatting the minimum wage in companies such as “heightened productivity by workers or trimming down a company’s manpower” in other words taking away jobs from other employees (Does Raising the Minimum Wage Increase Inflation?). In a more extreme example, employers will feel more swayed to replace the jobs of managers or even simple manual laborers with advanced technology as their forced income is raised (Why Raising the Minimum Wage Will Increase Inflation.). Companies are always trying to expand and raise profits because if you're not gaining money then you're potentially losing it. Too keep their profits on the rise, business owners may be forced to hire less employees and not waste effort on training untrained employees when the government forces owners to pay employees more than their labor is worth (What Actually Happens When You Raise the Minimum Wage.). As minimum wage constantly rises it spurs job loss all over
Every day small businesses are being closed all around the United States. People’s lives are being changed and destroyed every hour. What is the one common cause? Raising the minimum wage. Raising the minimum wage is an evergoing danger that Americans must fight against. The minimum wage has the ability to ruin or stabilize our economy. The government must be more cautious in its implementation of the minimum wage. The minimum wage should not be raised because it will increase inflation, take away jobs, decrease job opportunity for untrained individuals, and hurt small businesses. A rising minimum wage will result in a higher price of goods and raise inflation of our economy. Increasing the minimum wage …show more content…
A former CEO of one of the largest international companies, McDonalds, has publicly expressed that too high of a forced minimum wage will overall result in major job losses across the United States. The former CEO, Ed Rensi, believes that a higher minimum wage would kill existing jobs and also close up twenty percent of small businesses (Ex-McDonald's CEO...). Closing 20% of the United States small businesses would overall increase unemployment as many individuals are employed under small businesses. There are different forms of combatting the minimum wage in companies such as “heightened productivity by workers or trimming down a company’s manpower” in other words taking away jobs from other employees (Does Raising the Minimum Wage Increase Inflation?). In a more extreme example, employers will feel more swayed to replace the jobs of managers or even simple manual laborers with advanced technology as their forced income is raised (Why Raising the Minimum Wage Will Increase Inflation.). Companies are always trying to expand and raise profits because if you're not gaining money then you're potentially losing it. Too keep their profits on the rise, business owners may be forced to hire less employees and not waste effort on training untrained employees when the government forces owners to pay employees more than their labor is worth (What Actually Happens When You Raise the Minimum Wage.). As minimum wage constantly rises it spurs job loss all over