The Benefits Of Raising The Minimum Wage

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The minimum wage has been around since June 25, 1938. When Roosevelt initiated the first minimum wage, starting at 25 cents, it affected 20 percent of the population. Senator Edward Kennedy referred to the minimum wage as “one of the best antipoverty programs we have.” Jared Bernstein, former chief economist to Vice President Joe Biden, stated “it raises the pay of low-wage workers without hurting their job prospects.” Ralph Nader mentioned low-wage workers deserve a pay increase and the government is responsible for providing them with one. All politicians stated above favor a minimum wage, but to what extent should the federal government be held accountable? Raising the minimum wage to $15 would cause unemployment percentage for lower skilled workers to rise. With the potential of doubling the federal minimum wage, the controversial topic has gained an abundance of publicity. Most commonly mentioned when discussing minimum wage is the “Fight for 15”. The fight for fifteen consists of numerous low-skill workers, most of them living paycheck to paycheck if even employed at all, demanding a chance to escape poverty. When in reality, those workers would be negatively affected the most.
Especially in the fast food industry, minimum wage allows for products to be made at an efficient price, but when the minimum wage increases the prices of the food items will follow increasing at an expected rate of 4.3 percent, stated by Bryce Covert. Every 10 percent increase in the
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