Essay about Raising The Minimum Wage?

978 Words Apr 15th, 2016 4 Pages
The minimum wage was presented in 1938 during The Great Depression, starting at 25 cents per hour. Increasing over time, now at $7.25 since July 24, 2009 (Troubled Passage). Both having the same purpose of helping the American people out of poverty, and yet we are still in the same position. So it’s hard to believe why people still assume raising the wage is the best answer to solve the problem. But, with all the evidence presented we are hurting the people we are supposed to help, and given that why, should we make the same mistake of raising the minimum wage. People who are for raising the wage may argue that the inflation has not kept up with the minimum wage. According to Liana Fox, Swedish Institute for Social Research at the Stockholms University, “inflation indexing guarantees low-wage workers a wage that keeps pace with the rising costs of goods and services” (Indexting). This may be the case, however, we have to keep the customers in mind that are keeping them in business. Also, according to Richard Ghiselli, Head of the School of Hospitality & Tourism Management, “In order to compensate for higher wages, prices would have to increase between 4% and 25% and/or product size would have to be scaled back between 12% and 70%” (Study). With the significant increase of prices and the shrinkage for consumer goods without a doubt we will see a decrease in economic growth. Not only affecting the consumer, but the employee with cutbacks of hours and reduction of pay.…

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