Argument to Increase Minimum Wage

Argument to Increase Minimum Wage

Donnovan Daley

The minimum wage was designed to pay workers so they could support their families, but it’s not doing that now. The minimum wage for Chicago workers jumped to $10 an hour on Wednesday July 1, 2015 and the city said this is its first wage increase for city workers since 2010. This increase of minimum wage is an improvement to many people who are living paycheck to paycheck but $10 an hour is still not enough to support a family.

With today’s tough job market most job seekers are willing to acquire positions they are considered over qualified for, even if it means taking a pay cut. Therefore an increase in minimum wage will ensure that low wage over qualified workers have the means for vital necessities like housing, food, transportation and health care. The minimum wage should be at least $13 an hour to ensure that the increasing number of Chicago minimum wage workers can support themselves and their families.

Furthermore, an increase in minimum wage would help stimulate the economy by multiplying consumer spending without expanding the state or federal budget. Increasing the minimum wage will save the government money. Studies have discovered that raising the minimum wage will save the government $46 billion over 10 years in spending on the Supplemental Nutrition Assistance Program as people earn enough on their own to no longer qualify.

Another significant reason for raising the minimum wage would be to help people get off of food stamps. A study by the Center for American Progress found that raising the minimum wage to $10.10 would help 3.5 million Americans get off food stamps. The minimum has risen to $10 so just adding 10 cents more will help 3.5 million people get off food stamps is amazing. So imagine if minimum wage was increased to $13, every person who is living paycheck to paycheck and is dependent on food stamps would be able to support themselves and their family without a struggle.

Although the increase in minimum wage will help people living paycheck to paycheck a bit, smaller businesses are wondering how they’ll afford to pay the increase. Increasing minimum wage puts more money into the pockets of the low wage consumers who would instantly spend it at local businesses which benefits the economic recovery.

Today working families are relying more than ever on low wage jobs to make ends meet. When a low income household encounters more money they are more likely to spend it, putting more money into the economy. Therefore, by increasing minimum wage workers become financially stable and increase their ability to buy goods and services creating jobs for other Americans.