Minimum Wage

Congress wants to raise the federal minimum wage from $5.15 to $7.25

That just sounds so great - those working for minimum wage will have an easier time paying for neccessities right?

Not really.

Look at it this way, employers will have to pay the workers more. But the money to pay for that is NOT going to come out of nowhere! Prices are going to be raised in order to pay the workers more!

So, with the minimum wage increasing from $5.15 to $7.25, that means everything that once cost $5.15 will now cost $7.25

And that won't even erase the struggles of those on minimum wage!

In some cases, employees might even lay off workers or cut their hours! Why? Because they can't afford to pay the higher wages!