class discussion question 17

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What are the ethical implications of federal minimum wage? Who does it help, and who does it harm? Does raising the current level of the minimum wage increase unemployment, drive business away, or harm the very poor? Will a higher minimum wage raise the standard of living and buying power of the wage earners?

This is not an essay, please keep the response short 1 paragraph. Please be original

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Please respond to my classmate response below:

Raising the current minimum wage or leaving it the same has been a long debated subject in government for the last few years. I can certainly understand both sides and think that there are some valid bullet points. On one hand, we do need to ensure that minimum wage is set so that it is a livable wage. If you work 40+ hours a week, you should be able to put food on the table, gas in the car, afford medical care, and a roof over your head. However, if you desire the finer things in life or want a better roof over your head, you should follow the proper channels in order to acquire those items. If minimum wage is raised much higher, our businesses will seek to use more automation than they already are. Grocery stores have decreased their work force by adding self check out lines, fast food has done the same with automated kiosk to order and pay for your food. This trend will continue to happen. A business will always protect their bottom line, therefore, if I am having to pay each employee more money per hour, I will reduce my number of employees.

A higher minimum wage will lead to higher food prices, higher gas prices, higher prices for cars and homes. It will assume a domino affect and ultimately lead to a higher cost of living. Then we must ask ourselves, do we just continue to raise minimum wage every time the cost of living increases?

 
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