Raised minimum wage would help millions, the economy

Working parents scramble in the morning, trying to get their kids to school, then get to work on time, work hard, and only get paid a mere $7 per hour. This is the harsh life of a minimum wage worker.

In the United States, federal minimum wage is $7.25 per hour, or $15,080 annually, according to the University of California-Davis.

Right now, the minimum wage is simply too low, and it needs to be raised as soon as possible. It can help America’s economy, lift families across America out of poverty, and it would decrease our government spending.

The first reason we need to raise the minimum wage is because it would help the U.S. economy. According to the Economic Policy Institute, a new minimum wage of $10.10 as proposed by the Fair Minimum Wage Act of 2013 would generate $22 billion in new economic activity across the country. The best part about this is that this increase would not cost taxpayers at all.

The second reason we should raise the minimum wage is because it would lift families across America out of poverty. According to the University of Massachusetts at Amherst, if legislation were passed to increase the minimum wage to $10.10, it would take a projected 4.6 million Americans out of poverty.

The opposition to raising the minimum wage said that because of how much it would cost companies to comply, they would have to lay off 500 thousand workers, according to a report by the Congressional Budget Office (CBO). However, raising the minimum wage would be worth it because 1.6 million work for the minimum wage. The increase would make sure that at least 1.1 million people would be better off.

The last reason we should raise the minimum wage is because it would decrease welfare spending. According to the Economic Policy Institute, a $10.10 minimum wage would take $7.6 billion out of welfare spending, which would be a start to reduce national deficit.

Increasing the minimum wage would help the American economy, lift families out of poverty, and decrease government spending.

There is really only one solution to this problem. Raise the minimum wage to $10.10. Or even better yet, raise the wage to more than that. Although it is only a small $2.85 increase, the impact on America, its people, and the economy, is big.