Minimum Wage Increase

May 12th, 2015
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Most people would agree that raising the minimum wage sounds like a good idea, but arguments arise concerning if this increase would benefit the economy. Jared Bernstein believes that a minimum wage increase would positively affect the American economy.

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Minimum Wage Increase EssayMostpeoplewouldagreethatraisingtheminimumwagesoundslikeagoodidea,but argumentsariseconcerningifthisincreasewouldbenefittheeconomy.JaredBernsteinbelieves thataminimumwageincreasewouldpositivelyaffecttheAmericaneconomy.Hearguesthat theeconomyisdrivenbyconsumerspendingandlowincomeworkersareverylikelytospend theirextraearnedmoney.Onthecontrary,DouglasHoltzEakinstrivestomakethepointthat raisingtheminimumwagewouldnotbebeneficialtotheeconomy.Hearguesthattherewould benoreductioninpovertybecauseonlyasmallpercentofminimumwageworkersarein poverty,whilemostareunemployed.Anexaminationofraisingtheminimumwagewillreveal whyitwillb

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