Raising Minimum Wage

379 Words2 Pages
Raising the Price of Minimum Wage I personally think that it would be a good idea to raise minimum wage. One of the reasons why I believe this is because of the fact that the cost of living has escalated so high to the point where people aren’t making enough money to pay for their basic necessities anymore, and it is causing our nation’s debt to continue to grow higher. Another reason why I believe it would be beneficial to raise the minimum wage is because of the fact that it would help our economy in the long run by increasing consumer spending. If minimum wage was to be raised, then people would earn more money to the point where they are able to pay for their basic necessities and still have money left over; this would cause to a increase in consumer spending, and that would not only be beneficial to businesses, but also to the economic growth in local and national economies. The author of the article titled Arguments for Raising Minimum wage, Sue-Lynn Cathy, addresses poverty and how to fight it. Sue suggests that a minimum wage increase would help individuals that are considered a part of the “near poor” category move out of poverty entirely and to keep it that way permanently. I agree with Sue’s stance on this argument, I think that it would help people who are in poverty, and really would not only be beneficial to us as individuals, but as a nation as well. Supply-side politicians generally argue that a minimum wage is bad for the economy because of the fact that it artificially pushes up income levels, and that in time it is bad for business and will lead to inflation, and also inefficient capital markets. Joyce Hanson, author of Four Arguments for Raising the National Minimum Wage, gives four reasons as to why our national minimum wage should be raised such as the following: 1. We live in a consumer society, so people who earn more spend more. 2. The
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