Should the Minimum Wage be Increased to $15 an hour?
Should minimum wage be raised to 15 dollars an hour? That's a question many have been asking, however the answer is more complicated than it seems. The big idea supporting the raise in minimum wage is an increase in standard of living. The cost of living has always been on a steady rise; however, the minimum wage as of recent years has not kept up with this inflation. Some unforeseen benefits of raising the minimum wage are projected drops in nation and statewide aid to low income families.
It seems that this change has its benefits however, the complications begin with its negative implications. The largest issue to consider is the fact that if we're not careful, this wage raise could speed up the rate of inflation and keep the problem going. If all products increase in price then the bigger number in your bank account means nothing. Another issue is many minimum wage workers are labor workers. If the cost of these workers becomes too high, business will be forced to cut jobs to stay profitable.
This is not an issue with one solution; however, it's obvious that there is a problem to be solved. I think, with smart, steady increasing wages, we can raise the bottom line without negatively affecting the economy and the workers within it.