es ininstallments rather than a lump sum in the year of the sale”(4)With all of the advantages of the one dollar raise in minimumwage, it will save small businesses a lot of well earned money inthe long run. With a rise in the amount of minimum wageincluding the addition to the $76 billion tax aid, small businesswould be able to save a small fortune dealing with healthinsurance, meal deduction, and the more favorable tax treatmentfor corporations. Another issue to consider is the value of the current dollar. Ifthe minimum wage were to stay the same, the value of America’smoney would drop (6). Every two years the minimum wages mustbe increased to keep the value of the US dollar stable. With anincrease of $1 towards minimum wage, one living off of minimumwage would see an annual increase of nearly $2,000 , an averageof ten months utility bills could be paid for, 7 months of groceriescould be bought, an average of five months of rent for anapartment, or one and a half years of tuition and fees at atwo-year college (6) could also be afforded. With the addition ofone dollar to the minimum wage salary, the benefits can greatlybenefit those that work while in college. Older retired people thatwant to be kept busy with a job can have even more luxuries, orjust those that are trying to support the family income in any givenhousehold.The minimum wage controversy is turning many heads ininterest to decide whether or not a rise should be administered tosalaries around the country or not. The advantages of raising thewage outnumber the negative aspects. Nearly everyone can benefitfrom it. The planned amount that will raise the wage over a courseof two years is $1 dollar more per hour. This will occur by increasingthe wage by two one-year increments, each adding $.50 to the wageeach year. Those that work for minimum wage can expect to see anaverage of $2,000 or more in their annual profits, which in turn cansupply a single person or a...
