According to the U.S. Census, the poverty rate is 14.1 percent in 2014. Sounds pretty low, right? Wrong! That means there are 46.7 million Americans that are in poverty. There is one way to minimize that percentage. How? By increasing the minimum wage from $7.25 to $15 an hour. In an article by Washington Post, economists have agreed that raising the minimum wage will not only reduce poverty, increasing minimum wage to $15 will also help the economy.
There is a misconception that minimum wage workers are just teenagers. However, that’s incorrect. In fact, many minimum wage earners are bread winners of a family. These workers will spend their money on necessities such as food and paying the bills. They won’t have extra money to go out or buy a car. By increasing the minimum wage, these families will have some extra money to buy goods. For example, a person who earns $15 an hour will have money to take their family out to a restaurant. The restaurant owner will see a rise in sales and the they will need to hire more people to work for them because of the demand. Supply and demand. Another example is Black Friday. Millions of Americans wake up early for those 60% sales. So what do stores like Target and Best Buy do during the holiday season? They hire seasonal employees because there are shoppers rushing for that $200 100 inch LED TV. Now imagine if more people go out to shop every day instead of once a year. This can and will only happen if the minimum wage is increased to $15. Do you get where I’m going with this?
What just happened? By increasing the minimum wage to a livable wage, families will be able to buy other things such as an iPod or a new car. Business owners will see sales go up and will need to hire more employees to handle these customers. Not only will minimum wage reduce poverty, it also creates jobs and help the economy. I must include that business owners are NOT job creators. The middle class ARE the job creators. A CEO won’t just hire someone because they can. No, they will only hire more people because there is an increase in profit. So let’s join the fight for $15 to help reduce poverty, as well as help the middle class and grow the economy.