Does raising minimum wage help or hurt you? That is the question that economists have been asking themselves over the past few years as cities like San Francisco and Los Angeles have been raising their minimum wages well beyond the federal minimum wage requirement. And while it may seem like a blessing, there are also some noteworthy consequences that recent studies have discovered. And while some say getting rid of the minimum wage in its entirety is the answer, others say we need to increase it federally to $15 an hour. But of course there are problems with both of these solutions.
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Sources:
Obama – http://www.nytimes.com/2013/02/13/us/politics/obamas-2013-state-of-the-union-address.html
Profit Over People – https://www.youtube.com/watch?v=fBbdO-dO1Cs
Pro Free Market Remove Minimum Wage Article – https://fee.org/articles/the-truth-about-the-minimum-wage/
Seattle Report – https://evans.uw.edu/sites/default/files/two%20page%20overview.pdf
Effects of Minimum Wage on Employment – http://www.frbsf.org/economic-research/publications/economic-letter/2015/december/effects-of-minimum-wage-on-employment/
Pre 1938 Working Conditions – http://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/working-conditions-factories-issue
Current Nike Factory – http://www.laborrights.org/in-the-news/six-cents-hour
