Should the Minimum Wage Be Raised?


Quick Answer

The question of whether to raise the minimum raise is one that is highly contested, with economists and politicians alike taking positions on both sides of the issue. Proponents insist that raising the minimum wage reduces poverty, while opponents believe that a rise results in higher prices and fewer jobs.

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Full Answer

In addition to reducing poverty, those in favor of raising the minimum wage believe that the increase in wages also increases spending, which helps businesses. On the other hand, those against the raise believe that businesses are hurt, especially small businesses, by being forced to raise business costs. These costs are passed onto customers, which lowers the spending power of the wage raise. They also argue that higher labor costs lead to a loss in job availability.

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