Should the minimum wage increase? If so, how much?

Many employees want a higher minimum wage. Making more money means their pay for federal and state income taxes would be higher and their unemployment insurance would increase. They could also be placed in a higher tax bracket.

If the minimum wage goes up, those employees that have higher-skilled jobs or more responsibility will want to earn more, too.

When earnings go up, the prices of goods and services go up accordingly.

The standard of living goes up gradually when employees are given raises based on merit or are offered more as an incentive to work for a business or service.

Raising the minimum wage will collect more taxes but will raise the standard of living faster. One may earn more income but also have to spend more on taxes and/or goods and services. So they haven't gained, but, instead, they lost money.

Marcia Parmenter

Marion