Minimum Wage Shouldn't be Raised

In the article, Minimum Wage Raise, the author raises concern about raising the minimum wage in America. Obama and the Democratic Party are trying to pass a bill in order to increase the minimum wage, which several others are fighting for as well. As the author mentions, the congressman and other political groups do not understand what raising the minimum wage will do to the economy. Most people think by raising the minimum wage the economy will prosper and they will receive more income to provide for their family. As a matter of fact, by increasing the wage everyone will increase their prices and everything will end up more expensive than before. Therefore will this bill actually benefit the economy and American citizens?

Raising the minimum wage will especially hurt small businesses because they will be required to pay their employees more, which most small businesses can’t afford. The author makes a good point that “competitive pressures will usually prevent business from boosting prices” which will cause them to either lay off employees or receive less income. Although the author makes a valid point about the minimum wage hurting businesses, the author mentions that big businesses will be affected as well. I disagree with this portion of the article because the larger corporations have several contracts with other companies so if they raise their prices they will most likely still get the business from their loyal customers compared to a smaller business. Another thing the author did not discuss in their article is the impact this bill will have on employees that make more than the average minimum wage right now. I feel like this is an important portion of the topic that needs to be discussed, considering thousands of employees in Texas make more than minimum wage. Will their income increase as well, or will it remain the same? If so, how is it fair for someone that earns a college degree or works hard to be promoted to make close to the same amount as someone who works at a fast food place? If this bill were to pass it would most likely hurt the middle class the most. In all honesty, I see no benefit or positive outcome from increasing the minimum wage and think it is only going to hurt the American economy.