Mandatory minimum wage increase has been a heated debate

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The mandatory minimum wage increase has been a heated debate in recent times. Some reasons people may think it would be a good idea to raise it would be because the minimum wage has not kept up with inflation. I believe this to be the biggest argument and has sound validity. An individual making minimum wage, let us say in Texas at 7.25 an hour, working full time, cannot afford basic housing utilities and food. It may seem wise to raise it but it would also most likely result in layoffs, fewer entry level positions and raise incentives for more companies to outsource manufacturing, (Doyle, 2016). Also, prices of products may rise to offset these higher labor costs, (Doyle, 2016). If you pay Bob 15 dollars at a hamburger joint, the price for that burger will rise because it becomes more expensive to make. While many argue that the national minimum wage should be 15 dollars an hour, I would highly advise against it. Here in Texas, at 7.25, if the minimum wage was doubled, it could be catastrophic for the economy. While I do agree the minimum wage should be higher, I believe that is not out of the question that it could be raised a dollar or two and then be reevaluated after that.?

Reference no: EM131648956

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