But we can't expect that the issues of the working poor can be so easily resolved by simply placing more money in their hands. An underlying factor is that less than 1 out of 5 people employed in minimum wage jobs live in poor households leaving more than 80% of the increase going to those living above the poverty line. Given this fact, it's obvious that raising the minimum wage is missing its goal of providing aid to its intended demographic. The reason this is such a controversial subject is because there is no quick fix. Raising the minimum wage is the equivalent to that of a band-aid on a severed limb. .
As a society it's our responsibility to regulate how the government is spending our money. It is a commonly known that teenagers get minimum wage earning jobs by the time they are legally allowed to drive. Because they still live at home with mom and dad, they don't need the income level of man who's supporting a wife and three children. According to the Bureau of Labor Statistics data, individuals living with their parents make up the largest group of minimum wage earners which translates to roughly 35%. Although Americans are aware that the majority of minimum wage earners are youngsters, they almost always focus their attention on the small minority of people who have a minimum wage career. Most minimum wage earners are already contently living above the poverty line. Therefore, the people in which minimum wage is designed to benefit are not being reached. Instead of this increase supporting the basic necessities for lower-income families, it is being saved towards new cars, college funds, or frivolous entertainment. .
Increasing minimum wage overall, decreases available jobs within individual businesses. The reason for this lies again in operational costs for employers. .
The viability of businesses depends on profits and when minimum wage rises, it reduces profit margins.
