Minimum Wage War: Is a Pay Hike Good for the U.S.?

Pros & cons of boosting worker pay for lower-class Americans

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Minimum Wage War: Is a Pay Hike Good for the U.S.?

Raising the minimum wage is an issue that is divisive and complicated.

The latest salvo: A Congressional Budget Office forecast that shows a minimum wage increase to $10.10 per hour would cost half a million jobs … but lift 900,000 Americans above the poverty line and put them on more secure financial footing.

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Data like this proves that neither side is “right,” and that any policy change will have significant impacts on the American workforce and economy — not necessarily all in one direction. So that likely means our do-nothing Congress will simply pass the buck rather than think critically about a complicated issue.

But it doesn’t mean that the rest of us simply have to resort to partisan name-calling to justify the status quo.

The fact is there are as many meaningful reasons to leave the minimum wage alone as there are reasons to increase it. So we have provided a side-by-side analysis of the costs and benefits of a minimum wage increase and what it could mean for workers and the American economy, presenting both sides you can better understand the issue — and those who may disagree with you. (The full text of this graphic, including data citations, can be found here.)

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Article printed from InvestorPlace Media, http://investorplace.com/2014/03/minimum-wage-war/.

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