Topic > Pros and Cons of Raising the Minimum Wage - 2015

Raising the minimum wage could be a step toward closing the gap between rich and poor, thus eliminating income inequality. Excluding inflation, but minimum wage workers could have more money in their pockets. For the economy as a whole, minimum wage workers would spend more money, putting more money into the economy. For businesses, paying employees more could make them more productive and the company could have a lower turnover rate. Businesses should not spend more money on training and having experienced workers. Proponents of raising the minimum wage raise plausible points that are considerable. Although there are many factors that Proponents do not consider: inflation, the laws of supply and demand, the cause and effect of additional costs for businesses and more. Supporters of raising the minimum wage want to alleviate poverty, but in reality raising the minimum wage does not benefit the poor