Should the government raise the federal minimum wage?
I have mixed emotions. I believe it should be 9 or 10 but not 15 because economy will go up.
The federal minimum wage, by forcing employers to pay their workers a certain amount, requires them to fire people to maintain profitability, thereby destroying jobs and causing unemployment. Not only this, but businesses will often cut corners to reduce costs when they are forced to be artificially higher wages. With the price of labour increased, the price of many goods and services will furthermore rise, and people will have to spend more money on essentials and less on luxuries, killing jobs, raising prices, and inflating the revenue system. This more than offsets any benefits the select… Read more
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