Minimum wage is rising in most states so how it affects businesses

Question # 00724500 Posted By: neil2103 Updated on: 05/15/2019 03:01 AM Due on: 05/15/2019
Subject Economics Topic Environmental Economics Tutorials:
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Minimum wage is rising in most states so how it affects businesses, the economy and people living in povity in a positive way. The rise in the minimum wage has had a positive effect on both the economy and businesses over the past years. So, now with Congress putting the minimum wage up to $15.00 by 2022 could boost the economy, save in government spending and help low-income families to afford to live without having to work multiple jobs. The argument would be that raising the minimum wage will not have a negative effect on businesses and the economy and it hasn't risen the unemployment rate in past years. Some argue that the increase in minimum wage will hurt small businesses and cause the unemployment rate to rise. That has not been the case at all  

1. Minimum wage is increasing will help boost the economy

2. Will help low-income families afford to live without working multiple jobs

3. Will cut down on government spending for state assistance

4. Increasing the minimum wage will not put companies out of business

 

My audience would be members of the Republican and those of the Democratic parties who oppose the increase of minimum wage now and in past years Members against the raise say it will not boost the economy and will cause businesses to either let employees go or move their companies to other states that don't have income taxes. 

My goal is for members of the Republican party to see the change in the minimum wage is necessary to help the economy grow, bring the poverty level down, and help lower government spending. I hope to establish that bringing up the minimum wage for low-income workers will be a positive change all around. This essay will need proof of how the minimum wage increases in the past affected the economy, government, and businesses.

1. Economic Policy Institue testimony by David Cooper- Shows that raising the Connecticut minimum wage to $15.00 by 2022 would be good for workers, businesses, and the economy.                                                                      https://www.epi.org/publication/raising-the-inimum-wage-to-15-by-2022-would-be-good-for-workers-businesses-and-the-connecticut-economy-testimony-in-support-of-h-b-5004-and-s-b-2-before-the-labor-and-public-employe/

2. ProCon.org looks at all the pros and cons of increasing the minimum wage-    https://minimum-wage.procon.org/

3. Minimumwage.org Breaks down all the increases to the minimum wage over the course of the past several years-                                                              https://www.minimum-wage.org/connecticut

4. EPI article by Jared Bernstein This article is about minimum wage and its effects on small business                                                                                                              https://www.epi.org/publication/webfeatures_viewpoints_raising_minimum_wage_2004/  

 

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