Consumer spending drives the majority of the U.S. economy. By increasing the purchasing power of the lowest earners, you inject more money directly into the economy, potentially boosting growth and increasing demand for goods and services, which can lead to job creation.

  • Voting position claim
  • Claim

Name

Consumer spending drives the majority of the U.S. economy. By increasing the purchasing power of the lowest earners, you inject more money directly into the economy, potentially boosting growth and increasing demand for goods and services, which can lead to job creation.

Types

Voting position claim
Claim

Opposing arguments

In an effort to control costs, companies might accelerate the adoption of automation and technology to replace human workers. This could lead to a reduction in available jobs for low-skilled workers, potentially exacerbating unemployment issues among the most vulnerable populations.
Raising the minimum wage could lead to job losses, as businesses may not be able to afford the increased labor costs. Small businesses, in particular, might struggle to absorb these costs and could respond by reducing their workforce, cutting hours, or even closing.

Quotes that support the claim

"Consumer outlays account for about 70% of the U.S. economy"
"Phasing in a minimum wage increase between 2021 and 2025 would boost consumer spending and economic growth as the country recovers from the public health and economic crises."

Sources

CAP

Supported voting positions

We should consider raising the minimum wage
Raise the minimum wage to $17
Raise the minimum wage to $15