The Instigator
Ryan6789
Con (against)
The Contender
Conservative1998
Pro (for)

Should the United States raise the Federal minimum wage?

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Voting Style: Open Point System: 7 Point
Started: 1/29/2018 Category: Economics
Updated: 3 weeks ago Status: Debating Period
Viewed: 136 times Debate No: 107261
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Ryan6789

Con

In contrast to the current opinion that raising the minimum wage would be helpful to low wage workers, it would actually be detrimental. According to James Sherk, a raise in the federal minimum wage from $7.25 to $15.00 will cause a loss of 9 million jobs. This is because of the decrease in quantity demanded at that wage due to the lack of the ability for small businesses to absorb this new wage floor; 99.7% of business are considered small and according to the National Federation of Independent Businesses. In addition to this unemployment of millions, the employees who were not laid off will receive a short-term increase in relative income, then inflation will follow and their relative income will become the same again. This is because if the wage increases, then the cost of all goods increases, thus one dollar would be worth less after the increase. This can be proven because the purchasing power of one US dollar is now less than 1/5 of what it was in 1971, and the currency in circulation has risen by 800% in the same time frame (Bureau of Labor Statistics).
Ultimately, a raise in minimum wage will increase short term unemployment and decrease the value of the dollar.
Conservative1998

Pro

I believe that the federal minimum wage should not be raised because that will increase the taxes on the average American citizen.
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