When it comes to the debate regarding weather the minimum wage should be increased to $15 an hour, it comes with both the good and bad side. Many people who work odd jobs that pay way below the minimum wage tend to argue that the pay is not enough because they feel entitled to being paid more despite having lack of experience whereas those that do make the minimum wage argue that raising the amount would be very detrimental because of the consequences that followed.

Raising the minimum wage to $15 an hour would in fact not benefit the workers because then employers would be forced to let go of those who lack skills to compensate for the rise in minimum wage which could also ultimately lead to the closing of the business. In the video "Real Faces of the Fight for $15" one business owner made a very important statement that I thought was very crucial and he went on to state the following, "how can a business with no margin absorb the cost of the increase in the minimum wage?" after evaluating the graph on figure 5, as the wage goes up, the result ends up being a loss of quantity of Labor therefore creating a labor surplus for unemployment. What will happen is that the price of goods and services produced with the minimum wage labor increase will ultimately end up increasing to balance the wage increase along with the labor shortage that results.

My conclusion is that the proposal for a $15 an hour minimum wage increase is more damaging to the economy because as prices go up, the less people there will be to help keep costs low. The only way I could ever see the minimum wage increase being beneficial as if the government offered various types of training programs to those who never completed school or unemployed Do you help them get more familiar with certain skills that a lot of businesses pay more for.

References:John Stossel - Real World Effects Of Minimum Wage https://www.youtube.com/watch?v=Z0xVojIYA-o&t=349s

https://www.facesof15.com/

Real Faces of the Fight for $15

https://www.youtube.com/watch?v=k9whspNNR9U