Is minimum wage hepful for the economy?

is minimum wage helpful for the economy? Should it be increased , decreased or repealed?

  • Yes it should be increased the more people have money the more they wil spend it would increase the consumption and tax income
  • No it shouldn't be increased it would increase inflation
  • Minimum wage should be repealed completely
Select age and gender to cast your vote:
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Most Helpful Guy

  • Minimum wage has only a slight effect on the economy (it's a minority of people and they make much less than the average), so raising it by, say 10%, won't wreck the economy's productivity, nor would it make goods and services anywhere near 10% more expensive. I'm not sure a raise would fully pay for itself through increases in spending though.

    What would happen if it was repealed entirely depends a lot on the local welfare system and labor union strength. Without welfare or strong labor unions it would most likely lead to increased poverty rates and more crime.


What Girls Said 0

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What Guys Said 2

  • It may just help short term, Maybe minimum is enough cause that suppose to be reasonable. The question is that every one get the job.
    It is more help than richer is more rich poor is more poor.
    But why is that may be another reason.

  • I voted option A - I believe in bottom up economics

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