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Note that there are twelve reasons for "yes" and only four reasons listed for "no." Each is explained in a short succinct paragraph.
The Economic Issue
Raising minimum wage forces companies and businesses to lay-off workers, and reduces the number of potential employees. The price floor, the government regulated minimum wage requirement forces the price of labor higher than equilibrium, creating a lower demand for labor surplus of workers. The unfortunate laborers who can no longer acquire jobs go into poverty.
The socioeconomic issue the minimum wage problem creates is whether to allow lower wages and reduce unemployment, or to ensure those who are employed have the higher standard of living that shrinks the poverty gap. Either way there will be discontent, people will have to work multiple jobs, or suffer the affects of unemployment.
The socioeconomic issue the minimum wage problem creates is whether to allow lower wages and reduce unemployment, or to ensure those who are employed have the higher standard of living that shrinks the poverty gap. Either way there will be discontent, people will have to work multiple jobs, or suffer the affects of unemployment.
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