A popular topic of debate in America today is the minimum wage. While raising the minimum wage might seem like a good thing in the short term, it can also create problems in the long term. Currently, the minimum wage is $7.25 an hour, which is very difficult to live off of. The solution many are proposing is to raise the minimum wage to $15 an hour. While this would increase economic activity,it would also cause some major problems. The first of these problems is that increasing the minimum wage would force business to lay off employees, resulting in a higher unemployment rate. Also, while raising the minimum wage hasn’t caused inflation in the past, the price of consumer goods would increase.

One of the main concerns with raising the minimum wage is increasing the standards of living for impoverished people and reducing poverty. According to a 2014 Congressional Budget Office report, increasing the minimum wage to $9 would lift 300,000 people out of poverty, and an increase to $10.10 would lift 900,000 people out of poverty. At the same time, a wage increase could also decrease working hours, employment, and overall income. In the debate over minimum wage, this seems to be a recurring problem. While there could be one major pro to raising the minimum wage, there could also be a major con that could potentially outweigh the pro. This is the main reason why the minimum wage hasn’t been raised since 2009. Raising the minimum wage will drastically change the economy, hopefully for the best, but possibly for the worst.

CC BY-SA 4.0 Minimum Wage in America by Alex is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

3 Comments
  1. Shane 23 hours ago

    Alex, this is very well written. I agree with the fact that raising the minimum wage would increase economic activity but that it comes with risks such as businesses having to lay off employees. I feel like increasing the minimum wage would do the opposite of what people wanted and lay off more people than right now. We belive that it would lift many out of poverty but we have no idea because of the fact that it has never happened. What do you think would be better for the economy and how would you approach it?
    Helpful link: https://minimum-wage.procon.org/

  2. Erica 2 days ago

    Alex,

    This topic is a pressing issue in the United States right now. Your article is very interesting and I liked seeing both sides. Particularly when you said “increasing the minimum wage to $9 would lift 300,000 people out of poverty, and an increase to $10.10 would lift 900,000 people out of poverty. At the same time, a wage increase could also decrease working hours, employment, and overall income.” I look forward to reading your next post.

  3. Anna 3 days ago

    Alex, I enjoyed your article. You weighed the pros and cons. My suggestion is to expand your article by comparing us to other countries and maybe even state to state. https://www.thebalance.com/us-minimum-wage-what-it-is-history-and-who-must-comply-3306209, is a site that does jus that. Our minimum wage is surprising low compared to our cost of living and compared to other countries. Ireland stands out with being over $10. I’m not sure raising the minimum wage so drastically is the solution. Thank you for your article and I’m excited to see what you post next.

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