By
increasing the minimum wage, Obama is not only hurting small businesses but
also causing the unemployment rate to increase as well. For instance, Lee
Greer, President of the Greer Company and owner of the Cheddar restaurants,
believes that by raising the minimum wage his business and businesses like his
will be in debt or most likely be bankrupt. Mr. Greer said that, “the very
people you’re trying to help, who we are trying to help, just lose their jobs”
(Greer, 2014)[1].
With the new minimum wage law, people will lose their jobs even though the
intention and design of the law is to help those people who are facing poverty.
Therefore by raising the minimum wage, many people will be left jobless due to
companies trying to maintain the new minimum wage law and also looking out for
the survivability of their companies and not being driven to debt or bankruptcy.
Similarly, by increasing the minimum wage, Obama is increasing the unemployment
rate. According to a recent study by the American Action Forum, if every state
in the nation enacts Obama’s minimum wage law, there would be “over 2.3 million new jobs…lost across the
country” (American Action Forum, 2014)[2].
The study shows that 2.3 million jobs would be lost for Americans if the
minimum wage increases. As stated before, companies trying to adapt to Obama’s
minimum wage law will cause many Americans to lose their jobs due to the fact
that most companies need to be able to function without breaking the law and
facing debt. Ultimately, Obama is hurting small businesses and their employees
with his new minimum wage law.
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