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Discuss the argument of raising minimum wage
Arguments for raising minimum wage
Should the minimum wage be increased debate
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Is it ethical to raise the minimum wage when it doesn’t necessarily affect the very poor, the people it’s aimed at helping? The minimum wage is the lowest hourly wage an employer is permitted by law to pay an employee for his work. The current federal minimum wage is set at $7.25 an hour. Across the country, there is an overwhelming push in favor of raising wages for our poorest workers. In January 2016 the minimum wage in California was raised to $10 an hour.
People never think of the cons that come with raising minimum wage; they only think about how they could profit from it. Servers at "Waffle Now" eating establishment, have complained about how they need a more plentiful pay. I understand that with giving a higher wage, it creates people's pockets to become bigger and they could thrive on all their responsiblites. But, with extending the wage, this comes with amping up prices in the restaurant, have a shortage of staff , while also cutting hours or people possibly from their job. Pay more could potentially set back this restarunt that already isn't flourish the way it should.
When you raise minimum wage you raise the price in everything else for instance if minimum wage was raised ten percent that also raises restaurant prices 0.7 cents that may not sound like a lot but it starts adding up sooner or later and who knows then it could raises prices a whole dollar. Some people think that because the cities they live in are so expensive that minimum wage should be raised but if you live in an expensive city and are also living off minimum wage and can not afford it then you should not be living there. Also women think that they can not have a good lifestyle for their children with what minimum wage is paying. If you are living off minimum wage and trying to raise children then maybe you should find a different job where you can afford a life for your kids. Minimum wage should be raised because the economy is at a point where if minimum wage is raised there would not be a drastic change.
The federal minimum wage should be increased because raising it would increase the economic activity and spur job growth, decrease poverty, and also improvements in productivity and economic growth have outpaced increases in the minimum wage. Increases in job growth and economic activity will happen when the minimum wage is elevated. If the minimum wage was increased it will “inject 22.1 billion net into the economy and create about 85,000 new jobs over a three year period”. (“Raising the Federal minimum Wage to $10.10 Would Lift Wages for Millions and Provide a Modest Economic Boost") Thousands of new jobs will be created and it will put billions of dollars into the economy.
The Minimum Wage Higher or Lower I have something to say to everyone who can afford to have a nice property or who can not pay 1 month of rent. I go for a not so high minimum wage but also not so low. Here is why, first having it low will lower the cost of mostly everything, and when there is little of something the value of it goes up. In the contrary, if everyone has 1 million dollars then the value of a house will go to half of a billion.
According to the business.com editorial staff there are pros and cons of raising the minimum wage. When looking at job growth and if it is going to grow “there is little evidence that a higher minimum wage will create more unemployment as states with a minimum wage higher that the Federal minimum have experienced faster rates of job growth than other states.” Salt Lake City, Utah’s CEO of Blast Moba Brett Bastian doesn’t agree with this evaluation. “As a business owner, my biggest expense is labor, its doubling it making it a huge burden to businesses and the cost getting pasted on to consumers. My business partner said he would have to increase his prices by 40 percent if it happens.”
The cost of living is a difficult situation that many Americans across the country struggle with today. A heated debate that directly impacts the lives of all citizens is whether or not the price of minimum wage should be increased. Minimum wage is the standard amount of money earned for executing a basic skill job. Some people hold strong beliefs on why enlarging minimum wage is a major downfall, while others think this process is extremely beneficial. The following paragraphs will discuss the pros and cons surrounding both sides of this topic and the reasoning that births each one.
In conclusion, a federal minimum wage increase will significantly improve the standard of living of low-wage workers. To meet their basic needs, workers must be given a living wage. It is not only morally correct to do so, but also beneficiary to both ends. The increase in wages allows for a more supportable income, but it also stimulates the economy.
Chase Gibbs Dency Grubbs EGL 099-12 12-4-16 Minimum Wages American is a free country where anyone can work. There are millions of businesses people can work for. Almost all of these businesses are required to pay something that’s called minimum wage. The definition of minimum wage is the lowest wage permitted by law. In the State of Illinois, the minimum wage that workers can earn is $8.25 per hour.
Minimum wage is defined as the lowest rate at which workers may compensate at their place of employment. The very first minimum was law was passed in 1938, guaranteeing the workers at least 25 cents an hours. Today, minimum wage is at $7.25 per hour. A bill has been proposed to raise the minimum wage to $10.10. Of course, the wage would not rise immediately.
It is said the businesses will have to reduce hours or staff size to comply with the minimum wage increase (Englander).This means managers would have to cut costs on the labor section to maintain their budget. This would be an obvious consequence of the proposed increase that can be deduced with basic economics knowledge. Despite this people still would like to increase it. Raising minimum wage to even $10.10 would cause the loss of 500,000 jobs (Puzder).So even this miniscule increase will result in the loss of half a million jobs. That being said, why should there ever be an increase to minimum wage if direct result would be massive job loss.
Since the Great Depression, there has been a minimum wage in America, but this minimum wage has changed 22 times since the Great Deprnbession. Many people say minimum wage should stay at $7.25 like it has been since 2009. Meanwhile, other people believe that minimum wage should be $15.00 so they can have more money to live comfortably. People think that a higher minimum wage will help, but it will hurt more people than it will help. If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out.
America today is faced with its fair share of problems. There are low employment rates, debt, and inflation everywhere, riddling the economy with issues. There is absolutely no reason that any American citizen should want to pile upon the problem. Yet, some believe that it could be done by raising the federal minimum wage to fifteen dollars an hour. Fortunately, history, economics, and common sense prove the minimum wage raise proposition wrong.
Rising the Minimum Wage A big question that has troubled many economists over the years is regarding the flexibility of the minimum wage. Many debates are in question of what will happen if minimum wage rises. Both sides urge with positives and negatives on what impact it will have on the economy, and who will benefit. This paper will try to explore the previous said, and the consequences of raising minimum wage. Raising minimum wage is a complex area of study.
In the past three years, many politicians and labor unions have been pushing for an increase in minimum wage. Minimum wage is the lowest set wage by a law of a government body. An increase in minimum will benefit some people, and hurt others. An increase in minimum wage will cause benefit in the short run but will be very damaging to the economy in the long run. There should not be an increase in minimum wage because it is unhealthy to the economy in the long run and it will be the major cause of job loss, increase in inflation, competition, and the price level of goods and services.
