Minimum wage is a such a low price that the average family of four cannot sustain a healthy living standard and this causes many more problems than just one. Families cannot afford to keep up with bills and gas prices on top of buying food for their families and being able to raise their children. This causes people to get second jobs taking away time they should be spending with their spouses and children. Having a second job tears families apart and creates increases in divorce rates as well as creating unhealthy amounts of stress for people. Stress levels as high as they are results in people getting physically sick as well as mentally.
Increasing the minimum wage would also decrease crime rates. When people don’t have enough money to pay bills and support their family they do crazy things and their morals diminish. People will go the lengths to steal and shop lift just to get food to feed their families or clothes to clothe their children. If the minimum wage was increased people would not have to live a life in debt and be able to afford everything they need without having to steal it.
The final reason why minimum wage should be increased is because people do not have enough money to pay their bills and save their money. People will be forced to work their whole lives because they will be so far in debt that they will be paying it off until the day that they die They will never have the chance to get ahead and put their money into a retirement fund. I think everyone should have the chance to take the end of their lives and just live without having to work and constantly struggle with money.
The only issue with raising minimum wage is the concern with the rise of unemployment. Simon Taylor, who is a University Lecturer in Finance at Cambridge Judge Business School and is Director of the University of Cambridge Master of Finance (MFin) degree, disagrees with this by arguing that the logic used in coming to this conclusion is straight from a textbook and applies no real world knowledge.
Citations:
"Why raising the US minimum wage will probably not raise unemployment | Simon Taylor's Blog." Simon Taylor's Blog | Simon Taylor's Blog. http://www.simontaylorsblog.com/2013/02/20/why-raising-the-us-minimum-wage-will-probably-not-raise-unemployment/ (accessed May 6, 2013).
"Economists debate benefits, drawbacks to raising minimum wage | Minnesota Public Radio News." Minnesota Public Radio. http://minnesota.publicradio.org/display/web/2013/03/21/daily-circuit-minimum-wage-debate (accessed May 6, 2013).
