In order to heal the economy, recreating spending power is essential. People working for a $7.25 wage do not have enough money to cover rent and life expenses, so how could the minimum wage earners go out and spend money to boost the economy? .
Raising minimum wage will unquestionably add more money in pockets of consumers and allow them to spend more.
To contrast, there are many concerns for raising minimum wage; one being that it will become harder to find a job. "The minimum wage is more likely to hurt the people it is supposed to help by making it harder for them to find jobs " (Adams). Majority of young minimum wage workers lack the experience and skill to compete for higher paying jobs. According to Mark Adams, "Raising minimum wage makes it harder for these inexperienced workers to find a job, because businesses will either eliminate positions or choose to hire someone with more experience at the higher mandated wage." For this reason, many people are weary because it is already hard to find a job, and according to Adams, it will make the search even harder. Those who oppose also say that it will increase the cost of living. Raising the minimum wage will force businesses to pay their employees more, which results in the loss of money. Many businesses results to just raising the prices of the items in the stores to compensate for that loss. Raising the minimum wage to help the poor would defeat its purpose if businesses began to raise their prices, therefore not benefiting the poor. Adversaries debate that minimum wage employees should not be paid a higher wage because they are low skilled workers with little education. Increasing the wage will hurt employers and consumers for people with little work skills. It will hurt consumers in the long run because prices will slowly start to hike up to keep up with production costs. Thus, customers will pay for higher prices in the check out line.
