"Time for a Raise?"

Today I read Upfront Magazine's article, "Time for a Raise?" that was all about the pros and cons of increasing minimum wage and the effect it would have on the citizens of America and the economy. President Obama wishes to increase minimum wage from $7.25 an hour to $9.00 an hour. Many employees share his wants, whereas many employers disagree.

Obama argues, "This single step would raise the incomes of millions of working families." Raising minimum wage would give citizens more money to go back into the economy, therefore affecting our economy for the better. This raise in wages could boost the amount of pay that about 15 million people recieve. "A full time minimum-wage worker would see an additional $3,500 of income a year." Raising minimum-wage would make a huge difference in many American Citizen's lives.

At the same time, there are many opposers. For one thing, having employers have to pay more to their employees could drive some businesses out of business and increase unemployment rates again. Another opposing factor is that if an employer ends up struggling to make ends meet because of this increase in wages, "he could make less of a profit, raise prices (which could scare off customers), hire fewer workers, or reduce the number of hous each employee works." Any of these decisions could harshly affect any person involved in the business.

Overall, seeing the facts, I personally believe that raising minimum-wage is a bad idea. Although I would love to make an extra $1 per hour when I begin working, I feel that it is best for our economy not to raise the wage by that much. In my opinion, raising wages hurts more than it helps.