I think that raising minimum wage would be a bad thing. I think that it would be a bad thing because, when the prices of jobs go up then the prices of everyday items are going to go up.
http://www.fee.org/the_freeman/detail/the-minimum-wage-good-intentions-bad-results/#axzz2mzmMrTqX- says that there would be 5 major changes if we were to higher minimum wage. These changes are:
1) There would be a loss of employment
2) The economics would have a loss because there would be less product
3) There would be a finical loss to the society
4) There would be funding in training people for jobs and for people to get new jobs
5) The net loss in society for everyday items would go up because the prices of labor costs would have to be covered, and then foreign competition may get more of the income for their company.
This is good proof as to why raising minimum wage would be a bad thin, because there are going to be more than just 5 downfalls.
http://www.moneynews.com/SeanHyman/minimum-wage-raise-employers-businesses/2013/02/17/id/490764
Says that if we raise the minimum wage that it is going to cost 24% more to hire a person to work for you. If the inflation went up to 6 or 8 percent, it would end up having a burden on the bigger companies. Also the prices of aluminum, steel, copper would start go up more and more.
No comments:
Post a Comment