Talk of minimum wage going up has sparked a lot of controversy. Even working a full time job at $7.25 an hour, people are still considered to be in poverty. If full-time employees are still in poverty, minimum wage needs to increase so that taxpayers are not compensating for the fact that people working for minimum wage are not able to meet their cost of living.
The economy has gotten back to where it was before the recession started, but it still feels like we are in a recession because companies are not spending money. In order to have a healthy economy, money needs to be changing hands frequently. Companies should be paying their employees enough so they feel comfortable enough to use their wages to live on. With the current minimum wage, many of the people are not even full time, making it extremely difficult to actually live off of their earnings without seeking help from welfare or Medicaid.
Taxpayers the ones who are actually suffering from the current minimum wage because it is their money that is helping sustain those who are working for the lowest amount possible. Even though historically, raising minimum wage has caused difficulty in creating jobs, going from $7.25 an hour to $9 an hour would hold off raising minimum wage for quite some time and keep up with the cost of living.
The stock market is actually hitting record highs; therefore, minimum wage should be raised in order to ensure taxpayers do not have to pay more than they need and to help create a healthier economy.