Question

Should the US raise the minimum wage to $15 an hour? Right now it's $7.50.?

Answer 1

Answer:

I say no, the United States should not raise the minimum wage to fifteen dollars an hour.

Explanation:

First off, raising the minimum wage would force many businesses to have to lay off employees- creating a rise in unemployment levels. This would create an estimated number of 500,000 people that would lose their jobs. It would also, ironically, create a new rise in poverty levels. If the wages are higher then the cost of production is also going to be much higher. This could have many negative effects on businesses, potentially leading to closure for many. If the minimum wage is increased, evidence shows that at least sixty percent of small businesses will be forced bankrupt. For the consumer, this also means that the price of goods will skyrocket (as the price of production increases). This then leads to increased prices in many other aspects, for example housing costs. An increased minimum wage also increases tax payments.