Suppose that the minimum wage in the United States is $5 per hour. In an attempt to help workers, the government raises the minimum wage to $10 per hour. Which of the following would be an argument against increasing the minimum wage?
industries would then have to increase the cost if it's goods to pay for this wage increase. This would move many middle class families who already make this wage into a lower class income standard because the the class would change with the wage increase. These people who already support themselves will now find it harder to do so if all goods will go up 50 percent. This could actually put more Americans on some type of government assistance or go without medication and foods that are needed. Remember ALL product prices Will inflate.
