Dear Future President,
I am writing today to discuss whether or not the minimum wage should be raised. I often hear/read that a higher minimum wage will boost spending in the middle class and relieve some of the financial stress upon those in the lower class. I believe that the minimum wage should not rise, and I will support this statement by giving rebuttals to many of the arguments given by those who believe the minimum wage should increase.
Argument: The minimum wage does not provide the necessary income to support a family.
Rebuttal: The minimum wage is not meant to live off of. Jobs that pay the minimum wage are almost exclusively low-skill jobs that don't require degrees or special education. The minimum wage was created in order to assist low-income employees cover their living expenses. The hope for employees earning the minimum wage is that they go to a trade school or community college in order to work their way up the hierarchy of employment. If they don't have the time to do this, then the hope is that they at least work their way up in their place of employment.
Argument: A rise in the minimum wage will promote spending in the U.S. economy.
Rebuttal: Say the minimum wage IS raised, those affected by it would now be able to use it to pay for living expenses. However, what little discretionary income they have remaining will most likely be used as savings and won't go back into the market. Therefore, a raise in the minimum wage would mean businesses are paying employees who hold onto their income. This would create a stagnant economy.