Increasing Minimum Wage Laws In The United States

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For many years now, president Obama and Congress have taken up the issue of minimum wage laws because lately it has become a sort of conflict in our society as well as our economy. There has been much discussion about what good can come to America’s low-wage workers and there has been the same amount of discussion on what possible negative effects this legislation may bring. Full-time workers should receive enough to support themselves and their families. The purpose of the minimum wage law is to lift up the under paid workers but those workers see themselves as being underpaid(). If the economy is constantly changing should not our wages?
First, as a person who has worked for more than one minimum wage job I know for a fact 7.25$ per hour simply is not enough to support a family or even myself. I believe increasing the minimum wage to a reasonable wage, such as 9.15$ per hour would be beneficial to our small
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An increase in unemployment and product prices will occur because when the workers are paid more, businesses will have to raise the prices of their goods in order to still make profit. This may lead to inflation as well. Seeing the law of demand, when the prices increase, buyers will purchase less. This will cause the demand curve to shift to the right (Hubbard and Anthony 2015). If labor is more expensive employers will be forced to hire less workers. As for supply, higher prices of supplies will create a surplus in supply, causing the curve to shift to the right (Hubbard and Anthony 2015). The higher the wage, the higher the number of workers willing to work but the number of workers hired will be lower. This increase in unemployment can hurt the prices of goods and services and businesses will have to allocate more money for wage, which makes the charge more for their products. Raising the minimum wage can lead to many consequences, it can even lead to a decrease in economic
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