No doubt, my chummy Dollars, that you have heard about the arguments on both sides to raise the minimum wage. Many people think that it is a good idea, that people will make more money and that this added income will be used to purchase US made products, helping to fill the debt by some margin. This, of course, is only a partial bit of information.

First of all, this decision would only affect jobs that pay a minimum wage. Think of anything in the service sector: Cashiers, stock people, etc. In the short run, say a few months, everything would be fine, incomes would increase and people would make more money.

After this period of time, however, People would move towards working for a minimum wage. Businesses will then have to fire workers to keep on their projected revenues and such. There will, and I repeat WILL, be a higher percentage of unemployement in the service sector, as a higher wage will mean less people are to be hired.

While that encourages people to pursue college education and a more professional type job, people will flock to minimum wage jobs like flies to soda.

I hope this helps people get a fuller picture on the argument. I'd also be happy to explain other economic ideas if people want to hear them.

Wow. I can barely even taste the bias!

>>2 Tastes like chicken to me...

>>1 This would all be a huge problem, if for some reason prices never went up after the minimum wage increased. Businesses aren't going to change their entire model to make it work with less people, they'll jack up the prices because everyone can afford it now that they got a nice raise. It's inflation, it's natural, it's a sign of a growing economy.

This also relies on the idea that people will shitty jobs for money when they have the option of doing better jobs they like for more money. As if I would suddenly stop pursuing a career in Information Technology, where the average rate is $125.00/h, if I only got a $5 raise. It's ridiculous.

>>1 Some sort of relevant link would've been nice. The first post in a news thread should showcase the topic in a non-biased manner before sharing whatever opinions the poster might have.