The minimum wage has been an issue that has plagued our society for a long time now, during this time, groups like $15 now are constantly emerging, trying to force the increase of a minimum wage. However, The Congressional Budget Office projected that a minimum wage increase from $7.25 to $10.10 would result in a loss of 500,000 jobs, 38% of employers said that they would lay off some employees if the minimum wage was increased and 54% of employers said they would decrease hiring levels. (http://www.cbo.gov/sites/default/files/cbofiles/attachments/44995-MinimumWage.pdf
). Although groups like $15 now do have good intent, they have little knowledge of how the economy works and how increasing the minimum wage would rupture it. I will now refute some common arguments in favor of raising the minimum wage.
1. Increasing the minimum wage would reduce poverty
This is a funny one, as the exact opposite is true, as a study from the Federal Reserve Bank of Cleveland found that although low-income workers see wage increases when the minimum wage is raised, "their hours and employment decline, and the combined effect of these changes is a decline in earned income, minimum wages increase the proportion of families that are poor or near-poor." (https://www.clevelandfed.org/newsroom-and-events/publications/working-papers/working-papers-archives/1999-working-papers/wp-9919-the-effects-of-minimum-wages-throughout-the-wage-distribution.aspx
2. Increasing the minimum wage would reduce income inequality.
This is true, however income inequality is not necessarily a bad thing, I compared the living standards enjoyed by the poor and by the middle class to inequality measures from (https://www.manhattan-institute.org/html/inequality-does-not-reduce-prosperity-compilation-evidence-across-countries-6032.html#.VFclZfnF9hw
) These comparisons consistently showed that once the developed nations of Europe, Asia, and the English-speaking world are distinguished from the developing world, there is a tendency for countries with more inequality to have higher living standards below the top.
3.The current minimum wage is not high enough to allow people to afford housing.
This is somewhat true, however it is proven that increasing the minimum wage would increase the price of housing. In cities such as Los Angeles with a limited housing supply, raising the minimum wage but not increasing housing stock would lead to an increase in rental prices as "700,000 minimum wage workers will have more money to compete for the same low inventory of rental units," according to researchers from the University of California in Los Angeles.(http://www.scpr.org/news/2015/05/21/51883/minimum-wage-hike-could-increase-la-rents-economis/
hopefully these examples proved that while groups like $15 now do have good intent, the results would actually harm the people they are trying to desperately to help. Groups like these have no understanding of the economy, and they are the reason we may end up with a $30 big mac sometime in the future. Increasing the minimum wage would destroy a substantial amount of jobs in the United states, increase prices for everyday products, and create more impoverished. However these groups do not understand that, and i feel it is our duty, as the American people to better educate our students so they do not fall into this trap. I would now like to invite my opponents and supporters.
P.S how is my debate style? please provide feedback, because i always like to improve myself.