There has been great debate about whether or not the increase in federal minimum wage is a good thing or not. The wage is being raised from $7.25 to $10.10 per hour. I argue that it is a not so good idea for a few reasons.
First, a higher minimum wage seems to discourage people from getting an education. People receive educations in order to have higher salaries and better-quality jobs. Many people, who may be considering getting an education or just working, now have the excuse to skip the education and just work because they can earn enough money to live fairly well on $10.10 per hour.
Many minimum wage employees are working those jobs with hope to provide for an entire family, when in reality the program isn’t designed for that. Of course these people aren’t able to make ends meet, but this should encourage them to progress and possibly gain an education or seek promotions within their current work.
Finally, an increase in minimum wage will increase wage expenses for companies. Many companies will not be able to afford to have as many people working for them because of the wage increase. Companies may look into purchasing capital to automate their production and eliminate the need for as many employees. Over time, fewer jobs will be found in the market.