Question

There is quite a bit of controversy over raising the Minimum Wage.

Proponents say it will bring the disadvantaged out of poverty, and increase spending which will be good for the economy.

Opponents say it will increase business costs that will in turn be passed on to consumers resulting in higher prices for goods and services, and will actually eliminate jobs.

What is your opinion on the Minimum Wage?

1. Find one article supporting increasing the Minimum Wage and copy and paste some of the more compelling arguments into the discussion.  Be sure to copy the source of your article.

2. Find another article that opposes increasing the Minimum Wage and copy and paste highlights of that article into this discussion.  Be sure to copy the source of your article into the post.

3. (300 words) Take a stand - are you in favor of raising the Minimum Wage, or opposed to it? Defend the arguments in the article you post, be it for or against raising the minimum wage. Also, dispute the argument for the other side - state WHY the article is incorrect.

Answer 1

I. 5 Arguments for Increasing the Minimum Wage:

1. Wage Stagnation and Rampant Inflation

2. Increasing the Minimum Wage Would Not Adversely Impact the Number of Jobs

3. An End to De Facto Public Support of Low Wage Companies

4. The Proliferation of Low-Wage Jobs During Economic Turmoil Increases the Poverty Base

5. Small Business Owners Can Afford It and Many Support a Living        

Source: https://www.humanresourcesmba.net/

II. 5 arguments against increasing minimum wages:

1. Entry level work is payment within itself

2. The minimum wage kills jobs

3. Job creators avoid high minimum wage areas

4. When labor costs rise, other prices rise too

5. We can negotiate our own deals

Source: https://medium.com/@glenntv/10-simple-arguments-against-the-minimum-wage-d7509a7278cd

III. I am in favour of increasing Minimum wages. My points are -

i. A minimum wage protects workers so that they can guarantee their families live outside of poverty. This is currently not the case, which is why many believe the minimum wage should be higher.

ii. It's not about “saving jobs” because they will become obsolete anyway. It's about guaranteeing a minimum wage and letting market economics dictate what those minimum wage jobs are. No need to save jobs for the sake of saving jobs.

iii. Robots and self service kiosks are replacing the current minimum wage jobs. This is happening regardless if there is a higher minimum wage or a minimum wage at all. A minimum wage job will look different in 20 years than it does today, and that's OK. We should embrace that instead of resist it. It benefits both the workers and the economy in the long term.