Congress’s proposed changes to the federal minimum wage will effectively raise it $2.82, from its current $7.28 to $10.10, over the period of 2 years. This article discusses the economical implications of such a proposition. There is much discussion as to whether or not such an increase will positively impact the economy. Despite any negative offerings outlined by this article or anyone else, I am in favor for the minimum wage increase. My reasons are as follows; I do not ever see myself competing for a low-wage job, thus this area is not an area of concern for me, I feel it will only increase opportunity for workers in states whose minimum wages rates are currently low, and it will keep employee turnover relatively low.
Overall, I believe that increasing the federal minimum wage will spur growth in the economy and in overall business activity.