How has the quality of your life improved in the past five years since the last federal minimum wage increase from $6.55 to $7.25 per hour? One debate is whether an increase in the minimum wage will lead to an increase in prices. Another debate is whether an increase in the minimum wage will stimulate spending causing the economy to grow.
I spoke with a recent graduate of a professional certification program who faces student loan debt. This person stated an increase in the federal minimum wage would be used to pay down debts.
Should The United States raise the federal minimum wage?