Economic issue Essay Example | Topics and Well Written Essays - 250 words - 2

Economic issue - Essay Example The progressive widening of this gap occasions the government to take an active role in addressing emerging issues in that regard. Wealth concentration to a few people while the rest of the population battles poverty and middle class-related social and economic issues only worsens the state of the larger economy. In this respect, it is important to review the minimum upwards. Finally yet importantly, putting more money into people’s pockets will ultimately improve life standards in diverse and dynamic ways. More people across America will realize improved purchasing power, consumption of goods and services will increase, and reliance on unemployment benefits will reduce as more people enter the job market. Even though minimum wage debates have proven to be contentious, it is important to consider individual and/or household benefits that an increase in minimum wage will provide to the American population. Morath, Eric. White House: State, Local Minimum-Wage Efforts to Help 7 Million Workers. The Wall Street Journal, Aug. 12, 2014. Web. 15 Sept. 2014.