Minimum wage raise could hurt economy

How would you feel if prices increased just because minimum wage was raised?

Minimum wage is being debated right now because people feel as if it should be raised.

Minimum wage in Indiana right now is $7.25; however, most people want minimum wage raised to $10.10.

If it is raised, then it could create a ripple effect where in the long run, it would hurt us and our economy.

Let's say minimum wage was raised to $10.10. Money would become less valuable because business owners would have to raise prices just to be able to pay their employees and be able to support themselves. The middle class is most likely to fall because if a man is making $15 an hour, it is unlikely the company is going to raise his income just because they raised the minimum wage. Therefore, for a person who is in the middle class, their money would be worth less because their pay did not get raised. Also, new employees would be making as much if not more than experienced employees who have been working at the company for possibly many years.

Companies would have to raise their prices to help pay for their workers and the products they have to buy if minimum wage is raised. If businesses kept their prices at what they are and then raised the pay of their workers, they would go out of business because they are spending more money than they are earning.

When I get older and I go to get my first job, it might be easy to get a job at a place that pays the current minimum wage. However, if minimum wage is increased to $10.10, then it is unlikely for me to get hired because a company would not be able to pay me.

Company owners would have to continue to pay the current employees, so they may not have enough money to pay new people due to minimum wage being increased. And if you have less experience in working, then you are less likely to get a job because if company owners have to pay their employees more; they are going to want to hire experienced people.

In conclusion, I feel as if minimum wage should not be raised because it could hurt our economy. Sure, people think they could buy more things with a better income, but they don't realize the long-term effects like raising prices. People need to think about how it could affect them, others, and the economy if minimum wage is raised.