Because I was instructed that I MUST pick a side on whether or not I agree that raising the minimum wage up to $15.00 would be more beneficial or not, I honestly believe that it would not be more beneficial to do so. I believe that it would be silly to raise the minimum wage up to $15. "As I say, this is simply an absurd demand. There would be very large unemployment effects from such a raise meaning that many people would simply lose their jobs." (Tim Worstall, Forbes.com) I agree with Worstall. Because businesses would have to raise the amounts they pay, they would have to take away jobs, and only keep the people that they need and that are the most skilled of their workers. This would cause people to lose their jobs, therefore decreasing the amount of people with jobs and raising the poverty line. "The proposal for a $15 an hour minimum wage will make the minimum wage 90% of the median hourly wage: at which point we know very well that we’ll be harming low income workers, not aiding them." (Tim Worstall, Forbes.com)
Also, this could possible affect me at my age. "When the government increases the minimum wage, it’s more expensive to hire first-timers. According to David Neumark and J.M. Salas, University of California economists, and William Wascher of the Federal Reserve Board, “minimum wages tend to reduce employment among teenagers." (Rockland Times)
Also, better research has shown that raising the minimum wage would only hurt the economy rather than help. "Perhaps this is understandable — proponents don’t have many good studies to hang their hats on. The vast majority of economic research (including 85 percent of the best studies from the last two decades) points to job losses rather than job gains after a minimum-wage hike."(epionlineine.org)
http://www.forbes.com/sites/timworstall/2013/09/01/the-absurdity-of-a-15-minimum-wage/
http://www.epionline.org/oped/minimum-honesty-on-minimum-wage/
http://www.rocklandtimes.com/2013/02/07/the-pros-and-cons-to-upping-minimum-wage/
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