Keeping the Minimum Wage

After an economically devastating pandemic, the last thing struggling business owners need is a higher minimum wage. Raising the federal minimum wage would strain businesses and reduce job opportunities for low-skilled workers without significantly reducing poverty. Entry-level job positions would start to disappear as businesses are now paying more for those positions. A big worry with raising the minimum wage is that if a recession comes around, businesses will have a harder time staying open.

Although supporters of raising the federal minimum wage say raising it would reduce poverty by putting more money into the palms of workers who struggle to afford basic things like food and shelter, this would be incorrect. Raising the minimum wage would reduce the opportunities for people who are looking for these types of jobs. It also raises the prices of necessities making it harder for low-income individuals to buy them.

Gryphin Dean, a current student at Pennridge High School, said that “raising the minimum wage would be detrimental to the economy”. He went on to talk about how along with a higher minimum wage would come higher inflation rates. Businesses would be paying more money for goods and services to be made so to turn a profit, they would have to raise their prices with the minimum wage. Also, he said how workers who make above $15 an hour would not receive higher pay but would end up having to pay more for everyday items. They are indirectly taking a pay cut.

Overall, raising the minimum wage would cause unnecessary strain on small businesses that cannot afford these higher wages. Also, the prices of household products would rise in correlation with the wage due to inflation. It is best to keep the minimum wage where it is to prevent a decline in entry-level positions, so it is easier for struggling individuals to obtain these jobs.