Poverty in the United States will continue to increase if Congress does not increase the minimum wage as living expenses continue to increase. With expenses like rent and food, millions of people in the United States are struggling to afford the necessities of life. To help the middle and working class, President Barack Obama wants Congress to raise the minimum wage from $7.25 an hour to $9.00 an hour by the end of 2015. Unfortunately, CEOs and The Republican Party in the United States are against raising the minimum wage. because he will cut companies' profits and claim it will cause job losses. There are several benefits to raising the minimum wage, as it reduces the number of people in poverty, which in turn reduces government spending to support people living in poverty. Raising the minimum wage is also beneficial to the economy because it creates wage growth which in turn gives people more money to spend. Finally, another benefit of raising the minimum wage is that it would reduce the income inequality gap, as there are many CEOs in Canada and the United States who earn millions of dollars every year; while people earning the minimum wage struggle to survive. Ultimately, Canada and the United States need to raise the minimum wage to help people rise above the poverty line, which will in turn help grow the economy. For starters, the US government must raise the minimum wage to enable people to rise above the poverty line, which will result in a reduction in government spending. Millions of people work every day to support their families, but the federal minimum wage is not enough money to spend on food. With 46.5 million people living in poverty in the United States, the government is f... middle of paper... help improve the economy. Therefore, raising the minimum wage is beneficial to the economy as it creates jobs and increases the income of millions of people in the United States and Canada. The government needs to raise the minimum wage just as it raises people's incomes, which saves taxpayers money and allows it to be used for things like schools and road repairs. Additionally, raising the minimum wage creates wage growth, which helps grow GDP, as people have more disposable income. Finally, raising the minimum wage narrows the wage gap between CEOs and the working class, with the aim of distributing a greater share of profits to the working class to help pay for healthcare and education. In today's capitalist world, there should be a limit to how much you can earn in a year to help the working class, which ultimately helps keep companies in business..