What are the pros and cons of increasing the minimum wage in the present state of the US economy?
lower the gap between the middle class and the rich, etc.
That's a hard one. I am not one to think a lot about the economy, even though I really want it to get better. I usually just think about how to make my economy better. It's a good question, even though I don't have an answer.
Pros: give more money to those in poverty
Cons: it would cause an increase in production and products, reduce the amount of employees a company could hire, which would cause an increase in the unemployment rate (especially of the uneducated, teenagers, and immigrants) and lastly it would decrease worth ethic.
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