(MORE) Reasons not to raise the minimum wage

Photo credit: Blog.Mlive.com

Well here we go again. The CBO, (Congressional Budget Office), came out with a report that says raising the Federal Minimum Wage to $10.10 an hour would lift 900,000 people out of poverty. Awesome! Less poor people! Well, there is one problem. There are 45 million people that will be below the poverty line this year so this is barely a 2% decrease in the amount of people in poverty.  Why not do it you ask? Because that same report says raising the minimum wage to $10.10 an hour would cost 500,000 jobs!. That means there will not be as many people available to pay for the goods these minimum wage workers are producing.

We had an earlier post that explained in detail how raising the minimum wage would cost jobs

We would love to hear your comments on this! Make sure you respond below

---