Discuss how Raising Minimum Wage Will Benefit Society.
In the modern societytoday, the key to one’s survival will depend on his/herfinancial stability. It is very unfortunate that as the economy of the United States experienced significant growth over the past two decades, the wages for the majority of the Americas labor forcehas failed to increase in order to match the ever growing cost of modern living (Tuckerp 3).
Like any other advanced nation, there has been a strong wave of action from different forces in the society advocating for a raise the minimum wage.
Throughout the years, the federal minimum wage has been revised due to economic conditioning but has come to a standstill since 2009 (Belman et al. p 8). The supporters advocating for a raise in the minimum wage have argued that a higher minimum wage helps the economy of the U.S. significantly grow, and it will also be a benefit to the workers.
Also they have suggested that as a result of raise in the minimum wageany adverse effect on jobs of the people in America will be minimal(Belman et al. p 8), even though this has been met by a section of those opposing this change in minimum wage saying that higher wages will slow job growth or reduce employment.
As mentioned earlier, a raise in the federal minimum will greatly benefit the society as it will also help themajority of Americans out of debt, protect the rights of minorities from exploitation by abusive employers and it will also have aneconomic stimulus effect.
