ot be such a big problem forsome for a little while, but as inflation makes its mark, sooner orlater, minimum wage will raise. As long as salary is down, demandfor employment can raise, however, if the salary was to increase,employment opportunities for the unemployed would decrease (3).Employment would be more “stable” and more people would beemployed. In contrast, the minimum wages increased, then moreemployment cuts would be made since the employer would dislikethe fact of losing more money in pay checks, and would ratherlose staff, and have the smaller work force work harder. Many feelas though raising the minimum wage would help fight poverty, inthat raising the income, would help families to strive to move fromslums or building projects and promote them to live a richerlifestyle (3). To help people in the working industry, minimumwages must go up to help eliminate poverty and to keepincreasing the employment rate.A new issue that has risen recently, is the impact upon smallbusinesses (4). With the rise in wages for employees, smallbusinesses would be greatly affected. These small businesseswouldn’t be able to handle an increase in salaries the way that alarge well-known business could. A small business could be lost asa result of the inability to continue to pay their employees at leasta minimum wage. However, there may be light at the end of theirtunnel. A possible $76 billion dollar tax budget would be suppliedas a result of the increase in the minimum wage, which can beused to help small business overcome their predicament. Themoney would be spent in tax breaks over ten years to help providebusinesses with a deductibility of health insurance premiums(4).Nearly a 30% rise in meal deductions would be experienced(4).The amount of company equipment eligible for a write-off willincrease form $19,000 to $35,000(4). Also with small businesses, itwould “restore the law that allows a business seller to pay tax...
