Raising The Minimum Wage Boom

825 WordsNov 20, 20154 Pages
“I finally got a raise!” Todd exclaimed “They raised the minimum wage!” “Actually Todd, raising the minimum wage ruins the economy,” said Christine popping his bubble of excitement. Christine is right, raising the minimum wage will damage the economy and leave businesses closed and people jobless. Prices will sky rocket and leave families struggling to buy now overpriced groceries. Leaving the people it is meant to help in worse conditions. Although raising the minimum wage sounds great, with a plethora of research it rips the economy into pieces. Since the minimum wage is high and employees are paid a plethora, so then the price of products or services will be forced to go up to pay the workers. That will happen unless one lowers the salary that get as an employer or fire workers. If prices are higher than the competition will decrease. It will decrease since the price is high, it won’t go up or down concluding in no competition. No person will raise or lower their prices so that they can get sales. Employees are not making any money as supposed to some because they 've been fired. Unemployment will definitely increase, leaving the people the minimum wage is supposed to help jobless. Fox News host Neil Cavuto said that, “a $15 hourly minimum would absolutely kill jobs, and that 15 percent to 20 percent of small businesses would go away.”(Toon) Business would “go away” since they can’t pay workers. The US definitely does not want a high unemployment rate, which is
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