Mar
17
Nicholas Lee Blog Post for Class 14
March 17, 2015 | Leave a Comment
The issue of minimum wage has been a highly controversial and debated issue within our government. One the one hand we have people of lower income scraping for change in order to make ends meet and demanding a raise. On the other hand we have politicians and economists debating on the pros and cons this could have on the economy and our society. Despite everyone wanting to raise the minimum wage right away to $15, it bewilders me that people do not take a second to think about the effects this could have both good and bad but also how effective it will actually be.
According to the articles we read today, most of the public seems supportive of raising the minimum wage. In the New York Times article it says, “raising the minimum wage, as President Obama proposed in his State of the Union Address, tends to be more popular with the general public than with economists,” and why shouldn’t we? Shouldn’t the minimum wage rise as the living wage rises? As goods become more expensive, it is becoming harder and harder for lower income families to make ends meet. The debate arises though when we discuss who’s responsibility it is to raise the minimum wage. Should it be the corporation’s responsibility to care for the welfare of it’s employees by raising their pay or should it be up to the employee’s themselves to find a higher paying job when the budget get’s tight?
Personally, I am somewhat conflicted when it comes to my opinion on whether the minimum wage should be raised or not? Yes, I do feel empathy for low wage workers in large corporations who are struggling to make ends meet. After seeing the graphs in some of the articles, I do clearly understand that it is becoming harder and harder for families to afford basic necessities and a “living wage.”
But for me this is only half of the story. As family owns a small retail store business, our budget is very tight on what we spend our money on. Both my dad and 80 year old grandparents as well as 4 rotating staff continue to work there 7 days a week 361 days a year (Closed Christmas, New Years, Thanksgiving and July 4th) in order to keep our store operational. As the economy suffers though and big chains monopolize the business, it is becoming harder and harder to maintain consistent business. I can’t imagine what raising the minimum wage to almost double ($15 as proposed by some) to what we are paying our employees now would do to our business. According to my dad, if that happens, we would have to layoff some of our employees not because we want to, but because we literally would not be able to afford the raise.
Minimum wage is a controversial topic, it is no doubt. From my own personal experience, I can understand both sides of the argument on why some people are for raising the minimum wage while some are against it. For people of lower income, it is great that the minimum wage is slowly increasing as it will make their lives easier. The question is if this is really the best solution to fighting the income and wealth distribution gap? Is there really no other way we can fight this problem and find a solution? These articles all brought up interesting points and data that support the severity of this issue but I don’t think this the one answer to our issues on poverty here in America.
