The Case in Favor of Raising Minimum Wage
The policy regarding raising the minimum wage has been among the biggest campaign issues in the US 2016 presidential elections. Democratic nominee Hillary Clinton has made this policy at the heart of her campaign, with promises of reaching the federal minimum wage of $15. Her opponent, Donald Trump, on the other hand, has even said once that the wages in the country are too high, and there should be no federal minimum wage, but must be left to be decided by the state.
One of the biggest reasons why Trump and frankly all other Republicans are against raising the minimum wage is because they think it is not business-friendly. They keep saying that it is against the interest of businesses and people could lose jobs if business owners are forced to pay high wages. Let us take a closer look at this issue, which is a problem, not just in the United States, but around the world.
It doesn’t result to job losses
Every time the idea of raising minimum wages is brought up, the opponents immediately say that it could lead to job loss. In the entire history of the United States, minimum wages have been raised 23 times, and it did not lead to a wrecked economy or massive job loss. If anything, it has stimulated the economy further.
Small business owners are not affected
Raising minimum wages is also seen as anti-small businesses. The argument is that they can’t afford to pay their workers the minimum wage and might eventually just shut their business down. This is not true. In fact, small business owners support raising minimum wages based on a 2014 survey. They understand that employees that are paid well could also give back by doing their job better, which is beneficial to the growth of the company.
Everything has already become expensive
Every year, the prices of basic commodities increase. For instance, apples have increased prices by up to 16% since 2009. All other items that we need on a daily basis such as meat, rice, milk and cheese, have seen a markup on the price. The increase is overwhelmingly high, but the minimum wage remains stagnant. This is why people are suffering even if they work hard or even work two jobs.
Worker productivity is high
If we simply base the minimum wage on worker productivity, then workers of today should be receiving $21.72 per hour. This is how big their contributions are to the growth of the companies they are working for. Sadly, with politicians whose interests are for the business elites, these hard working employees are taken for granted.
Everyone will feel the effect
The upper class members of the society might think that the whole idea of raising the minimum wage is beneficial only for the middle class and not for them. The truth is that everyone, from top to bottom, will benefit from it. In fact, an overwhelming majority of Americans (75%), approve raising minimum wages.
It is high time to dispel the notion that people will just lose their jobs or have a hard time coping up with the increase of the minimum wage. Time and time again, it has been proven that raising minimum wage is more beneficial to the economy.
Photo Attribution:
Featured and 1st image courtesy of Stuart Miles/Freedigitalphotos.net
2nd image courtesy of Stuart Miles/Freedigitalphotos.net
