Pros And Cons Of Raising The Minimum Wage

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The federal minimum wage has been increased twenty-two times since President Franklin Delano Roosevelt signed the bill into law in 1938. President Roosevelt was an avid supporter of a federal minimum wage as he says that “no business which depends for existence on paying less than living wages to its workers has any right to continue in this country.” Raising the federal minimum wage has many pros and cons, but is a necessity to thrive in society. People have argued that raising the minimum wage will cause inflation, but it will create various economical benefits, income benefits, production benefits, and improve racial justice. First, one main reason that the minimum wage should be raised is because the economy will prosper. “Economic Policy Institute stated that a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion net into the economy and create about 85,000 new jobs over a three-year phase-in period” (ProCon). This quote shows that the economy will flourish from the increase of the minimum wage and that unemployment will decrease. Another quote that shows how raising the minimum wage will affect employment is “To the extent that through…show more content…
It will not just gain more money for their families,but the economy will prosper because less people will be living in poverty. The government has not kept up with inflation, therefore the federal minimum wage is long due for an increase. Bill Pascrell acknowledges that “today a minimum wage earner has to work a day and a half just to pay for a full tank of gas. That is simply shameful.” This quote is inspirational because the federal minimum wage is not enough for the average person and it puts everything in perspective. Raising the federal minimum wage is not only the smart decision, but it is the right
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