Yes:

There are many benefits for the people if the $15 minimum wage bill were to be passed. Some include being able to work at minimum and being able to live off that wage.

Benefits of the increase would be substantial. The main part everyone is talking about is the relief it would give for people who were financially affected by COVID-19. It would also secure people who work at minimum wage and can just barely get by or suffer with living and food expenses. Because of inflation throughout the years, everything has become more expensive and the minimum wage still hasn’t been increased for the past 12 years.

People also should be paid more for what they do. It’s not always easy working full time and only earning $7.25 an hour. You would be barely getting by with any payments or can’t pay for any at all. This wage is not a living wage and everyone needs to notice how many people are actually getting paid minimum wage and how terribly it is affecting them.

This change will also help small businesses in consumer spending and overall lowering turnover. This would solve many issues that small businesses have to face, especially the issues that came because of the pandemic.

Another reason why this needs to happen is because the businesses are mainly benefitting from paying their workers less and it’s unfair to the worker. People should be payed at least a minimum wage of $15 because of how much their own pay may increase from before at $7.25 which is above double the pay.

This is a very large issue in the world of jobs because people aren’t earning enough from their jobs to be able to support themselves or even a family. This needs to be changed before problems worsen.

No:

As much as the minimum wage should be raised since it hasn’t moved since 2009, there are a lot of cons that could have a playback on the economy if raised.

For example, with the wage going up around $8 or so, the consequence would be businesses increasing their prices, which would cause prominent spikes in inflation. With businesses needing to cover the costs of labor, they would essentially create an increase in their prices which would also lead to a higher cost of living while in itself is already an impactful issue even at $7.25 an hour, it would be the same problems we are running into now but instead, the few extra dollars for your labor would be thrown in for your cost of living even after the increase, relating back to the inflation downsides.

Raising the minimum wage could lead to more poverty than what there already is. With the increase in paychecks, businesses would cut hours and employment to compensate for the lost money increasing every worker’s paycheck, gradually causing a decrease in workers’ pay run annually. In 2019 the CBO report estimates that raising the minimum wage to $15 an hour by 2025 would result in the loss of about 1.3 million jobs. Labor is a larger cost for workers combined than what we think about at first, so businesses would have to let go of a portion of their employment to make up for it.

All in all, the pros of raising minimum wage outweigh the cons to a certain point, and that certain point is the raising of these wages is not too extreme and businesses would be able to keep their head above water with the new changes and not have to cut any jobs and make it harder for those still struggling to find jobs.