ipl-logo

Federal Minimum Wage Essay

1401 Words6 Pages

1. Should we raise federal minimum wage? A big topic that has been on the news a lot was if we should raise minimum wages or should we keep them the same. Tons of people are working hard but the workers don 't make enough money to make a living they need help from the gov’t to help pay their expenses. Lots of people think that getting a high pay wage will help them and the gov’t because then the government won 't have to spend as much because they would be making more money but people also think that would just hurt them more and make the government spend more because if people make more than the cost of living would go up. In no state can an individual working a typical 40-hour work week at the federal minimum wage afford a one- …show more content…

Side 2 argument 2. A study from the Federal Reserve Bank of Cleveland found that although low-income workers see wage increases when the minimum wage is raised, "Their hours and employment decline, and the combined effect of these changes is a decline in earned income.” They could be getting more money but then their employer might cut their hours. They would be getting paid less money since they are getting less hours to work for. 2 side argument 2 60% of small-business owners say that raising the minimum wage will "hurt most small-business owners," according to a 2013 Gallup poll. Higher wages would make small business go out of business because they would need to pay the workers more, when they might not be making a lot of money because they are already a small business. They would also be losing tons of money by paying workers more than what they already make. Side 2 Argument 3. In cities such as Los Angeles with a limited housing supply, raising the minimum wage but not increasing housing stock would lead to an increase in rental prices as "700,000 minimum wage workers will have more money to compete for the same low inventory of rental units," according to researchers from the University of California in Los Angeles. The cost of things will go up, the houses would cost more so it would feel like if they never got paid

Show More
Related
601 Words | 3 Pages

According to William Dunkelberg, a writer for Forbes magazine, by raising minimum wage there could become less jobs than before. Though the people who have jobs would be making more money, smaller companies wouldn’t be able to pay for their employee’s, and would have to let people go. “Small businesses stay in business

Read More
524 Words | 3 Pages

Raising the minimum wage has been one of the biggest debates during the 21st century. One side of the spectrum argues that raising it will make it so they have a living wage, while the other argues that raising it will hurt the economy. Whichever the case is, people are clearly divided on this issue. Before Oregon passed the 15 dollar minimum wage law, people wrote arguments to try to either prevent or pass this law. The article, “How a $15 minimum wage would affect a real business: Guest opinion” by Lee Spector argues that raising the minimum wage would hurt small businesses like the one he earns.

Read More
407 Words | 2 Pages

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.

Read More
733 Words | 3 Pages

A minimum wage increase from “$7.25 to $10.10 would result in a loss of 500,000 jobs”. ("The Effects of Minimum-Wage Increase on Employment and Family Income”) This claim is better because it shows how raising the minimum wage will decrease job growth instead of increasing it. But, the minimum wage should be increased because increasing will also increase economic activity and spur job growth, decrease poverty, and improvements in productivity and economic growth have outpaced increases in the minimum

Read More
817 Words | 4 Pages

At least at this point in time more people are getting some money, if we were to raise the minimum wage less people would have a higher amount of income. Isn’t it better to have some money than to be laid off and not get

Read More
670 Words | 3 Pages

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.

Read More
633 Words | 3 Pages

Living on a $15,000 salary is not cutting it for what families need in America. Proponents of the pay raise argue that paying low class workers more money would result in that money being spent, spurring economic activity and growth (“Federal Minimum”). While some supporters argue raising the minimum wage to $15.00 an hour, just raising it to $10.10 would give Americans more equality compared to other workers in the United States (“Federal Minimum”). Opposers say that requiring businesses to raise the minimum wage would force layoffs and prevent employers from hiring more workers because small businesses can not afford it. They also say a raise would encourage employers to substitute skilled workers for their least-skilled employees especially since most minimum wage workers are not primary earners but rather high school students or the secondary income of a household (Levin-Waldman 60).

Read More
579 Words | 3 Pages

Another result of raising the minimum wage would be that other products’ price would increase. This may not affect your higher class, or your minimum wage workers. Although this will affect your middle class, because their wages will not increase while all of the other products will. These statistics are just one example of this, “If the minimum wage were increased to $15 an hour, prices at fast food restaurants would rise by an estimated 4.3 percent, according to a new study. That would mean a McDonald’s Big Mac, which currently goes for $3.99, would cost about 17 cents more, or $4.16”

Read More
1002 Words | 5 Pages

Increasing the Minimum Wage would also increase the Quality of Workers’ Efficiency and the Economic Growth People took really serious about salaries, payments and benefits that a job could offers before choosing that particular job. I strongly believe that the minimum wage will affects the quality and the efficiency of someone’s work. Increasing the minimum wage will increase the quality and efficiency of the workers while lowering the minimum wage will somehow results otherwise. Minimum wage is something that is flexible, it depends on the economic growth and the costs of life in that particular area. As it stands, the minimum wage is now $7.25 but the Congress propose that the minimum wage should be increased to $10.10 (http://www.marketplace.org/topics/your-money/ask-money/raising-minimum-wage-good-idea-or-bad-idea).

Read More
1153 Words | 5 Pages

Because taking into account negative employment effects and increases in consumer prices induced by the minimum wage would wipe out any positive direct effects on household affected by the minimum wage. The minimum wage becomes even less effective in reducing income inequality when negative employment effects are taken into account. I will address the negative effects in sociological aspects by the

Read More
711 Words | 3 Pages

A person working full time at the federal minimum wage of $7.25 per hour earns $15,080 in a year, which is 20% higher than the 2015 federal poverty level of $12,331 for a one-person household under 65 years of age, but 8% below the 2015 federal poverty level of $16,337 for a single-parent family with a child under 18 years of age (procon.org pro#2). If you put the minimum wage at $9.00, people will be able to live comfortably without unemployment rates going up. However, raising the minimum wage

Read More
880 Words | 4 Pages

Minimum wage and poverty With everything going on with the Walmart workers picketing for fifteen dollars an hour wages, the topic is widely discussed with many people taking many different sides. The essay “Raising the Minimum wage will reduce poverty” By Sharon Parrott and Jason Furman, They go into how they think the minimum wage should be raised in order to decrease poverty in america, Of course there are reasons to raise it and reasons to not raise it. Yet with the multitude of reasons for and against it, it’s hard to make a decision that makes everybody content, Some of the reasons not to raise it include, Raising it can make prices for everyday items go up, Why go and spend thousands of dollars on college when you could get a decent job right out of high school, and Why let workers who work at unskilled jobs make as much if not more than the military. Some reasons for minimum wage raising is, The fact that the cost of living is higher means people can’t survive with minimum wage without federal care, And just helping people get back on their feet when they couldn’t find a job. The reasons Minimum wage shouldn’t be raised outweigh the reasons it should.

Read More
2273 Words | 10 Pages

On the other side, the argument against raising the minimum wage is that it would hurt the low-paid workers. Small businesses will not be able to pay higher wage to their employees and will have to let some of them go. Finding jobs will become more difficult for the low-skilled workers. Higher minimum wages will increase the prices for goods.

Read More
1017 Words | 5 Pages

Economic research points to the conclusion that a higher minimum wage does not cause greater unemployment, boosts productivity, and addresses the growing problem of rising income inequality. The minimum wage debate currently underway tends to narrowly focus on those workers making exactly the minimum wage. This approach misses a large number

Read More
704 Words | 3 Pages

Many argue that an increase in minimum wage will help guide low skilled workers out of poverty and assist them into having a better career. That is not necessarily true, Many economists can agree that minimum wage jobs such as cashiers, host or a hostess are not jobs that meant to support a family. If anything by raising the minimum wage, it will put more people in poverty than guide them out of poverty. A raise in minimum wage will cause loss of jobs, an increase in the inflation rate, increase in

Read More

More about Federal Minimum Wage Essay

Open Document