Answer:
I understand all the arguments for raising the minimum wage -- getting by on an annual salary of $15,000 is nearly impossible for one person, let alone a family, and contrary to popular belief, most fast-food employees aren't teenagers working for gas money; the average fast-food worker is 29-years old. Overall, fast-food employees are some of the most disadvantaged members of American society -- what's wrong with giving them a few extra dollars? The feel-good notion of putting more money in the pockets of the lowest-paid workers is overwhelming; unfortunately, it completely ignores reality.
Raising the minimum wage inevitably leads to higher unemployment, though this is often hard to see, as increases in the minimum wage are generally small, and are rolled out gradually over time. But the negative effects of the minimum wage are easily illustrated with a simple thought experiment:
Suppose that the minimum wage was instantly increased to $100 per hour (an hourly rate several times greater than what the typical employee makes). What would happen? Some employees would be worth keeping; those whose salary already exceeded that threshold would stay on. But most workers would find themselves out of a job -- businesses wouldn't earn enough to offset their labor costs.
Explanation:
