What is Minimum Wage? Minimum wage is defined is represented as the lowest wage permitted by law or by a special agreement, which makes it makes its leads to increase of wages from the current number at $7.25 an hour to $15.00 an hour. According to Fox News majority of Americans, 53.3% to be exact believe that the minimum wage should be increased.
Unemployment at its Highest! What that majority doesn’t know is that it will hurt the economy indefinitely; raising the wage not just hurt the economy but increase poverty enormously. Knowing that the current poverty rate is 14.5% in the U.S, with the increase in wage it would cause the percentage to triple in less than a month. This leads to the crisis of unemployment. Organized labor and anti-poverty groups succeed by one case which is inflation.
Education would be totally hurt. According to the Sunset Organization’s article “Education Should Be Top Priority,” with minimum wage increased, most college students won’t have the income to pay for school. In other words FAFSA will not be as reliable, because that’s what most students rely on. The money inflated from wage increase will not be in the government's hands. The wages increase will leave public schools with no money. Which means teachers who were making $27.00 and hour will be cut to $17.50 an hour.Then the up rise of teacher less schools will cause mass chaos around the nation and private gaining more because most children in private can pay for it because of their class of living.
Laziness is the main factor? This effect would cause parents not being able to pay for their children’s college.This signifies the hurt it brings upon families as most of them depend on it. “To many Americans depend on the government for their second income when their are two adults living the house.”(Anderson Cooper) The government is to help benefit for people who truly need it. Most Americans rely on the government because they are too lazy to get a job.
The Pros of the increase! The increase minimum wage would help lower poverty within the economy. If you believe employers are squeezing more and more output from their payrolls without fair compensation, then a minimum wage hike would be for you. But if you believe technological advances and low-skill, low-wage competition from overseas have limited the number of minimum wage jobs in the U.S. and prevented employers from doling out raises, then a minimum wage bump might not make sense and could ultimately hurt low-skill workers' employment opportunities. It also gives hope to those who really want to be something in life. “Wages increase will get people off their butts and allow them make the best of themselves.”(Hillary Clinton’s Presidential Race) Clinton’s statement makes more than just than simply explained, but cuts to the point.
The Importance.The wage increased to $15 sounds amazing but shows the extermination of jobs. In the end, increase in wage would not be great for the economy, it just makes all hell break loose for the economy. The increase will cause extreme poverty for the whole country. Inflation, unemployment, and agriculture are some of the economy’s major importance to the economy and to wage increase. Minimum wage is fine where its at. People just can’t be lazy anymore; however they also just may not rely on the government.