Should the Minimum Wage be Raised?
As someone under the age of 20 who is currently considering getting a job, the minimum wage value matters to me because I will probably make minimum wage whenever I choose to enter the workforce. Both sides of the argument are completely valid opinions. People against raising the minimum wage say that it will only make retail prices go up in order to compensate for the extra expenses that companies will undergo. People who argue that the minimum wage should be raised say that it isn’t possible for a single mother to raise her children off of her minimum wage job, and that raising the minimum wage would reduce unemployment in America. Joe Biden’s economic advisor Jared Bernstein argues that people no longer use minimum wage as “luxury money”. Many people who are trying to provide for their family are working minimum wage jobs that are insufficiently supporting a family of four, “the increase is not wanted, it’s needed” (Jared Bernstein). While former advisor for Mitt Romney Kevin Hassett says that an increase in minimum wage would result in huge amounts of job loss.
However, a Forbes article by John T. Harvey argues for neither side of the minimum wage discussion; he argues that the point of minimum wage is not to raise or lower unemployment; the point of minimum wage is to protect workers from being underpaid. This, to me, makes the most sense out of any of the arguments. Minimum wage is not an unemployment battleground, it’s a law. The minimum wage is fine as it is; the real issues arise from a flawed education system that provides no means for minimum-wage earning adults to get educated and be specialized laborers who better our economy.