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What is the effect of raising the minimum wage
Economic effects of raising minimum wage
The effects of raising minimum wage
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After thoroughly reading two articles by Surowiecki and Saltsman on if the United States raising minimum wage, the minimum wage should remain the same. To support this statement, Saltsman states that the people who live below the poverty line, in fact, are not poor because of minimum wage; Americans remain poor due to not working at a job. People continue to live in poverty because they lack the skills to even attain a job or look for a job. Even though Surowiecki claims that 46% of today’s families live off of a minimum wage worker, minimum-wage jobs weren’t meant to support families. Minimum-wage jobs were meant for teenagers and woman.
With the increase in living costs, people are demanding that they receive a higher minimum pay to cover these expenses. In his article “Millennial Thoughts: Minimum wage and my take,” Will Perkins offers his opinion on minimum wage. There are many sides to the debate of whether to increase or not to increase minimum wage. Perkins, in his article “Millennial Thoughts: Minimum wage and my take,” discusses the controversial issue of raising minimum wage. He emphasizes that people who work full-time should “earn a livable wage.”
If the minimum wage increases, it doesn’t necessarily mean that the economy will get better or our standards of living will be better. If wages go up, then the standard of living will also increase. There are statistics that have proven why the raise of the minimum wage will actually cause more issues. As the minimum wage increases, the unemployment rate will increase. As well, there is a huge potential of causing small business to collapse due to higher wages and being unable to afford it.
If they were to raise minimum wage their life would be so much easier , other families can benefit from this too. The government needs to raise minimum wage. If parents are getting underpaid how are they supposed to support their family. “High school kids were getting underpaid” (Patricia 1). They’re so easy to convince.
There are many people who feelm that they have a degree and a certain type of jibs people do are more important than those who want to have higher minimum wage. Most people who feel that they deserve a higher wage are those who work in fast food or an entry level position. The job anyone could do and this maybe the problem. A higher minimum wage is important and necessary. Most companies will hold back on all expenses or costs.
The minimum wage in America has become a hotly debated topic among the people of the United States, from people working in fast food restaurants to politicians and businessmen alike. The main issue that people are debating on is whether or not the minimum wage should be increased, decreased or remain the same. There are as many, if not more advantages to raising the minimum wage that there are to lowering it, based on factors such as economic growth, inflation, as well as many other things, such as the fact that the minimum wage was established to provide an amount of money that one can supposedly live off of. The amount of poverty by percentage has done nothing but increase since we have declared a war on poverty.
Many people, form state legislators to various interest groups, in the United States are advocating increasing the minimum wage. There are several reasons for this, including the thought of it boosting the economy out of recession. Some other reasons are that it will improve the standard of living, boost consumer buying power, and provide a more stable and productive workforce. While these reasons are good in theory, raising minimum wage can be detrimental to small businesses and the economy.
The reason that minimum wage should be raised is because the expense of education is significantly cost more today. Not just has the cost of school gone up additionally the cost of numerous private and catholic schools. In today 's reality, kids can 't better themselves if their parents can 't pay for their education. Thus prompting lacking instruction of children and additionally adults in college. A few children need to depend on themselves to pay for college.
The income for minimum wage should be higher to be fairer to poor people and to fix the American money distribution system. If the upper class were paid less and the lower class were paid more that would help fix the money distribution system. The next time you get your pay check think about how hard you work, and how many people get paid for the same amount of work. Also think about people that get paid minimum wage and can’t have more money than what is needed to support their
$15 an hour sounds great to almost everybody, but most people don’t realize that if we all made $15 an hour it wouldn’t be as great as it sounds. The federal minimum wage should not be raised and should be kept at $7.25 because its negative effects on people 's income, inflation of prices due to a domino effect and the loss of jobs in mass numbers. There is no reason to raise the minimum wage in the first place, one of the claims I have heard from you is the ”reduction of poverty.” The problem with this claim is that the majority of poor Americans do not work at all, for any wage, so raising the minimum wage does not help them. It is like giving extra milk to a lactose intolerant person, it has no effects and only takes milk away from the rest
Each year thousands of workers complain that they are not getting paid enough. They want to be able to afford things other than the basic necessities. What they do not know is that if the minimum wage were to be raised, they would be a lot more likely to make even less money- 0$ an hour. The minimum wage has been debated for years. Some say that raising the minimum wage will lift people out of poverty and provide a higher standard of living for everyone.
Many people in The United States fight poverty every day. Even though Minimum wage is a good starting pay, it is not enough to sustain an average lifestyle for a family of 3. Therefor minimum wage needs to be raised. If minimum wage is raised, poverty levels would majorly decrease in the United States.
That would still leave the ‘poor’ in the same situation that they are in. Raising minimum wage would also cause other families to go in debt, because if they are making a constant amount of income and taxes increases or their bills become higher because of the increase they will lose money causing them to become
Minimum wage was first established in 1938 by Franklin Delano Roosevelt, in an attempt to stimulate economic growth and create a better standard of living for the lower class. This attempt was fairly successful, but also has many consequences. You may be asking yourself, “how on Earth could setting a limit on how little you can pay someone be bad?” On the surface this statement seems logical, but if we delve deeper we begin to see many negative effects on the implementation of minimum wage. In our nation the minimum wage law almost seems out of place, like it doesn’t quite fit in.
Today 's society has various standpoints when looking at this very contentious topic in the US: Minimum wage. To illustrate, imagine coming home every day to your family and not being able to you or your family to have dinner as you didn’t make enough money during work. Imagine having to share a small cramped apartment with a family of 4 to save a few pennies for necessities such as food, water, and medical care. Indeed, these are the conditions these families living on minimum wage are experiencing. You may ask, who doesn’t want the minimum wage to increase; the more, the better right?
