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Benefits Of Raising Minimum Wage

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Minimum Wage Raising minimum wage would affect the world all around but not so much as the people wanting it would like. It would mess up all of the economy; to prices going up, insurances, employment rate, and how many people per job site. Minimum wage has been a thing since 1938. It all started with the Great Depression in 1938. It started at twenty-two cents an hour. Minimum wage is not the same throughout the world, states have their own wage as well as companies have their own minimum wage. There is a lot of benefits to it being at $7.25. Although being at $7.25 is not mandatory, you could be better in life and go somewhere bigger and better with better pay. To start off with i 'm going to give you a basic understanding what minimum wage …show more content…

The point of a minimum wage is to help the poor to stay out of poverty. Statistically about 80% of The United States of America is covered by this law minimum wage, but minimum wage isn 't the same everywhere you go the overall national minimum wage is $7.25, but now some places have bumped up their minimum wage to higher. The reason for people having a higher wage is to recruit more workers or just simply because the job is harder and requires either more skill or some sort of a degree. Also just some states in general require its bosses to pay more. With that they also add in ages that you are allowed to work for minimum wage, and what age you 're allowed to work the spot that you want or desire. To me where it is now is where it needs to stay because if it goes up anymore it could be a disaster and we want to be lower that way the less skilled can get a job easier and allow their to be more jobs available that way we can keep the employment rate up. There are a lot of things that company owners or bosses are going to do if the minimum wage is to go up. The biggest thing already happening and that will get worse is people …show more content…

But yeah it is nice to have extra money by raising minimum wage but it is going to be the same thing overall, if not worse the bills are going to go up with it. Raising minimum wage could reduce the benefits you get such as insurance, vacation, and your future. Raising it as well means what about all the people that already have their worked their way to what the minimum wage wants to be set at. Do they expect them to stay at that same wage or go up as much as minimum wage raised. It is hard to raise the minimum wage therefore it shouldn 't. Raising it is a sensible spread. Plus when it is a lot lower there is more jobs and more wanting to hire instead of stacking others with a lot of tasks. It will also kill and put some small businesses out of order. Those small businesses are the ones that sometimes do a lot for us that being we need them. But the ones that are able to stand and stay going are not going to really want to hire. And if they do there might not be insurances, or good stuff to it. It highly discourages them to hire. Owners that still would hire are not going to hire low skilled and are going to make it hard for the high skilled. There are a lot of alternatives that the higher people could overdue if the minimum wage goes

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The minimum wage was initially set at $0.25 an hour and has only risen since then. (Fair Labor Standards Act or FLSA) Minimum wage has been a hot political issue since its institution and it has often caused rifts in the political system. Currently,

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The increase of minimum wage would be good because it will help low income people keep up with price inflation. 3.There is a essential need for the federal minimum wage to increase because not only the people will benefit from it, but the economy as well. 4. Companies who are able to pay higher minimum wage will benefit with increased productivity and customer satisfaction. 5.

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Minimum wage would raise the wages of many workers and increment benefits what disadvantaged workers. An estimated 6.9 million workers would receive an incrementation in their hourly wage if the minimum rage were raised to $10.15 by 2015. Due to the spill over effect the 10.5 million workers earning up to a dollar above minimum wage would withal be liable to benefit from an incrementation. Women are the most astronomically immense group of beneficiaries from a minimum wage increase. Sixty percent of workers who would benefit from an incrementation are women.

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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.

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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.

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The minimum wage is supposed to be the starting point of someone’s wage/entrance into the world of business. For example, if you start working somewhere, they might pay you minimum wage if you have no experience or no education in that particular area. If you’re only worth “x” amount of dollars an hour, I’ll only pay you “x” dollars per hour. This is why someone with a college degree will be able to go farther in life than most of those without a college degree.

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This would make it where people wouldn 't have to live paycheck to paycheck. Raising the wage slightly would also make it so the price of goods wouldn 't have to be raised. The Economic Policy Institute stated that a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion net into the economy and create about 85,000 new jobs over a three-year phase-in period. This raise increase would be easy to implement and would help the economy. By implementing this new minimum wage many problems in America can be solved.

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