Tuesday, October 30, 2012

Minimum Wage

I am definitely torn on the issue of minimum wage. On the one had, I love minimum wage because it gives me the opportunity to earn more income, it also seems to me that it could cause unemployment and warm to the economy. It is true that by raising the minimum wage to $10.00, some family do a lot better than just surviving. However, it does seem rational to me that by doing this, employers would have to cut back on their machinery or the number of employees they have, both of which would be detrimental to the economy. That being said, the federal minimum wage does seem to serve some sort of purpose. It seems to me that without the federal minimum wage, employers would pay less money for a large portion of low-skill, high-labor jobs, which if remained unchecked would drive more people into poverty. At this point I think I am simply to ignorant to form a real opinion on this issue, despite my libertarian leanings.

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