If the federal government raises the minimum wage from 7-25 to 10-10 an hour, there will be fewer poor people… right?
Well, the truth is there would be fewer jobs.
Many minimum wage jobs are the first jobs people ever get like at a restaurant or a grocery store.
Making their employer pay them more means their employer cannot afford as many workers unless they drastically raise their prices and probably lose a lot of customers.
Instead, many employees could get replaced by robots or computers like those self-checkout lines at the grocery store.
Even the government’s own Congressional Budget Office says such a raise would eventually leave as many as 500-thousand people unemployed.
Our country needs more people working… not less. Shouldn’t we help the poor without hurting job creation?