Minimum wage

The minimum wage does more harm rather than good. When the raise is increased jobs are lost, to prove this look at the supply and demand graph. Supply= The amount of people willing to work. Demand= The amount of people the companies are willing to hire. Price= The cost of the wage. Quantity= The amount of actual workers. Now if the price [Raise] was higher and the supply was higher we would see many more people wanting to work but very few actually being hired or seeing the raise. Minimum wage has many negative effects on the small business simply because the small business just can't afford to pay the workers a 15 dollar an hour wage. Thus creating much less competition, and a higher unemployment rate. Some workers are not actually worth 10 or even 15 dollars an hour so the company will not hire them simply because they are not worth it at that time but rather they will hire someone with experience. The main problem with this is that it is much harder to get a job when you have no experience in a minimum wage job market. It is often argued that we need to provide a living wage to all; so then why don't we make the wage 50, or even 1000 dollars? Many times I will be told that's ridiculous, no company would pay that much, so the logic would apply that a raise by even 1 dollar would kill the companies initiative to hire more workers, and in return raise the amount of people unemployed. And when unemployment is increased the amount of people that enter government assistance programs also goes up, which in return causes taxes to be raised on people and companies, therefore the people that got the raise are paying more in taxes to give the ones who were fired welfare, Medicaid, and other social programs. Under a minimum wage system companies rarely pay more than what the minimum wage is because other companies will pay the exact same price for workers. However without a minimum wage the competition would skyrocket, and in return so would the wages. While the unemployment rate is only 8% in the United States, teen unemployment is at a record high of 25%, and many economists say this is because of the minimum wage, and that teens are not worth the new proposed wages. Many American kids will be looking for their first jobs when they are out of high school, and raising the wage will make it less likely they will get the most important entry-level jobs. It is not the teens fault they just don't have the needed experience. When companies are forced to pay more per worker less money can go into expansion of the company and therefore fewer jobs are available. The best way to actually address poverty would to have tax credits for low-income workers and tax policies that encourage asset development and savings for the lower class. The government has no right to tell a business how much they have to pay their employees. The reason is because the business has one more regulation and is that much closer to government run and controlled business, which is communism. When the minimum wage is abolished, and competition rises if an employee thinks his employer is not paying him a fair wage he will simply walk out the door, and go to the company's competitor and get a better paying job. That is just the way the free market works, and putting more rules and regulations on the business will only hurt the free market, and cause major recession, thus skyrocketing unemployment. A world without regulation would look something like this" More on this kind of society on the last link. "Per capita income would be $101,000, not $54,000. "Per capita wealth would be $480,000, not $260,000. "The US would have no federal, state or municipal debts or deficits. "Pensions would be fully funded. So would Social Security. "The 2014 GDP would be $32 trillion, not $17.5 trillion. Links: 1- http://www.forbes.com... 2- http://www.mirror.co.uk... 3- http://www.gazettextra.com... 4- http://www.ncsl.org... 5- http://www.bondinfo.org... 6- http://profutures.com...