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is a law that essentially makes it illegal for an employer to hire a person with limited skills.

A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills. Milton Friedman

is a well-intentioned plan to reduce poverty that ends up hurting the poverty stricken most.

The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken. Milton Friedman

is if raise, a way to generate more spending, increased sales, and thus more o hire more employees to keep up with increased sales.

More opportunity for jobs: If these minimum wage employees are spending more, then businesses are earning more and need to hire more employees to keep up with the increased sales from the minimum wage employees who are buying more.

is if raised, a way to decrease turnover rates in that they are less likely to quit, resulting in fewer expenses to hire and train new employees.

Decreased Turnover Rate: Employees who are making a higher minimum wage feel more comfortable and satisfied in their minimum wage jobs meaning they are less likely to quit. This means there would be a lower turnover rate, which results in fewer expenses to hire and train new employees.Inflation: The federal minimum wage needs to be raised in order to account for inflation, which raises every year and the minimum wage has only been risen three times in the past three decades.

is if raised, a way to generate economic stimulus in that the more money wage workers have, the more money they spend, which ripples through the economy.

Economic Stimulus: Raising the minimum wage means minimum wage workers have more money to expend which means more money ripples throughout the economy as minimum wage employees are able to spend more.

is if raised, a way to reduce expenses for the social program that many minimum wage earners currently find themselves forced to rely on.

Reduced Expense for Social Programs: Employees surviving at minimum wage are also often the same people who must rely on additional support of government run social programs to support themselves and their families on such a small amount of income. Raising minimum wage means some of these people would be able to better support themselves without leaning as heavily on social programs and this would ultimately mean lower taxes or a reallocation of those funds to support other needs.

is if raised, potentially negative in that employers cannot afford to hire as many employees.

Fewer Hirings: If business must pay their minimum wage employees more, they cannot afford to hire as many employees. According to a Federal Reserve Bank of Chicago study, '10 percent increase in the minimum wage lowers low skill employment by 2 to 4 percent and total restaurant employment by 1 to 3 percent.' Or instead of hiring fewer employees, the company may start outsourcing jobs to employees in countries that are willing to work for much less than $10.10 per hour, resulting in fewer jobs for Americans.

is if raised, potentially negative in that employers might raise prices of their product in order to generate enough income to support their more highly paid minimum wage employees, resulting in higher cost of living for the very same poorer individuals.

Price increase: Employers might raise prices of their product in order to generate enough income to support their more highly paid minimum wage employees, which could ultimately create a ripple effect for other shops and industries, resulting in a slightly higher cost of living, resulting in another push to raise minimum wage again.

minimum wage, n.Definitions

minimum wage