Is It Time to Abolish the Minimum Wage

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Is It Time To Abolish the Minimum Wage? What would happen if there were not set minimum wages? Would the unemployment rate increase or drop? Would businesses’ around the country grow because of the increased profits? Minimum wage was set so that employees would receive a fair wage for their work. No, it is not time to abolish the minimum wage. If there were not a set minimum wage companies could pay their employees what ever they felt like paying them. Of course, they would not be able to go too low or the employees would just leave and then the company could go under, but it could possibly be lower than what the minimum wage was set at in the first place. The cost of living would have to go down if there were to be no set minimum wage otherwise more and more people would become poverty stricken by the sudden loss of income. The unemployment rate would increase greatly if we were to abolish the minimum wage because no one would want to work for less than what they were being paid for working the same job. If no one wanted to work the same job for lower pay then the businesses would start going out business. It would just be a big domino affect that would cause more trouble than good at least for the American citizens anyway. Illegal immigrants would have a hell of a time with all the job opportunities opening up. Abolishing the minimum wage is not the way to go. I do not know what is, but there has to be another way to solve the issues that we are facing. Unless we get rid of the minimum wage and the government wants to step in when everything starts falling apart taking more control of the country and everyone in it then maybe it would
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