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How To Raise Minimum Wage In The United States

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Raising minimum wage in the United States would benefit over twenty eight million workers. Raising minimum wage would help businesses and would also give workers with minimum wage salaries more money then just enough to get by. The money these workers earn will go into businesses in and near their communities. Also the cost of living wages have increased throughout the years. With a minimum wage salary you have to work a forty hour work week without paying more than thirty percent of their income. The increase of minimum wage would benefit more than just workers it would have a positive impact on women and their families. This would benefit women because in the United States women tend to earn less than men. In 2015 full-time female workers made seventy nine cents for every dollar earned by men. Raising minimum wage would also help provide for their children. According to the No Kid Hungry …show more content…

If minimum wage is increased the more money the typical american will have on spending money and they will have more money to put into businesses across the country. In a study performed in 2011 by Chicago Federal Reserve Bank it showed that every dollar added to a person 's minimum wage they spent $2800 more in additional consumer spending. Workers who earn more than minimum wage will also see increases in their salaries. This is because minimum wage is seen as the base number from which their wages are calculated so if the base number is raised their salaries will be arranged. The opposing arguments about raising minimum wage is the increase will force a strain on companies and force them to slash jobs. Around two thirds of low wage workers work for large businesses like McDonalds, WalMart, Burger-King, and ninety percent of businesses like these are profitable the increase of minimum wage would not have a huge impact on these companies where they would lose that great of

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When people don’t have jobs or are scared about losing their jobs, it affects the way they buy things (consumer confidence, their will to or not to spend their money) which in return, hurts the economy. If the minimum wage is increased then certain businesses won’t be able

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Raise Minimum Wage Raising minimum wage has always had a debate amongst people. There has always been a controversy of doing so has or not, how ever there is always some advantages and disadvantages in such topics as such. According to some studies from 2013, research shows that raising minimum wage could in fact increase job growth and activity. This research was based on the wages of $7.25ph increasing to $10.10ph and if it was done so, it would point 22.1 billion dollars net into economy and produce 85,000 if not more jobs in a period of 3 years. Studies also show that raising minimum wage would reduce poverty, a $10.10 minimum wage could save up to 900,000 people out of poverty (Congressional Budget Office).

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Raising the minimum wage isn 't entirely beneficial. It could potentially lead to more unemployment as some businesses may reduce their number of employees or reduce their hours in order to offset the cost of paying a higher minimum wage. Some may also increase the prices of products or services offered. It can also possibly lead to a decreased interest in college education since minimum wage jobs are paid almost the same or can be more than what jobs requiring college education pay.

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Therefore, increasing the minimum wage would help reduce income inequality and poverty, boost consumer spending and economic growth, and provide much-needed relief for low-paid workers struggling with the rising cost of

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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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1552 Words | 7 Pages

Raising the minimum wage will boost the economy greatly. $10 an hour minimum wages would create over 100 thousand jobs and raise wages for over 30 million americans, which is 10 percent of the country. The raise of the minimum wage would increase the gross domestic product by 25 billion dollars. (“NPR”) With more money in the economy and a lot more jobs, businesses would start having surpluses and offer better insurance policies.

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493 Words | 2 Pages

The minimum wage will affect lots of people, it will make live easier for people and it will boost the economy. For the people who are in the zone of a raise in pay because they are working minimum or some where around their. The minimum is probably never going to be able to stay at one point for ever. Statistics show that most of the states are projected to have and increase on the minimum wage by at least 2018( United states minimum wage increase).

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1835 Words | 8 Pages

“As inflation rises, every dollar you own buys a smaller percentage of a good or service. When prices rise, and alternatively when the value of money falls you have inflation” (Hayes). For this reason a minimum wage increase would never work. If employers are paying employees more then they will raise costs to offset the added expenses. This will cause the buying power of the dollar to decrease, making it so people who received the minimum wage increases will not be making any more money than they otherwise would’ve, and people who did not have their pay increased, will be making even less money then they had used too.

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1258 Words | 6 Pages

Samuelson and Nordhaus, authors of the book, Economics, once said, “The minimum wage probably raises the income of some low-wage workers at the expense of others who cannot find work.” While a raise in the minimum wage may come with good intentions, the effect could be detrimental to society. A raise in minimum wage is problematic because it would cause a loss of jobs, higher prices for lower quality goods, and less business. Overall, these effects would lead to the poor being even poorer.

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556 Words | 3 Pages

The Minimum Wage Debate Raising the minimum wage would strengthen the economy and help lift the working family. Anyone who works a full time job, which pays minimum wage, should be capable of supporting themselves and their families. Single parents do not always have the resources or finances to get childcare beyond their child’s school day, which makes it hard for them to work beyond their child’s school day hours. There is also the issue of the extra financial burden placed on them to pay for childcare.

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526 Words | 3 Pages

Raising the minimum wage from could put pressure on other lower-paying jobs which pay slightly more than the existing minimum. This could cause stress in the compensation structure of many small businesses. In fact, any mandate from the government which increases the cost of doing business could result in many consequences, mostly negative. First, it could cause prices to rise as businesses attempt to protect profit margins. Next, it could cause a loss of jobs if the business is forced to reduce expenses, again, to maintain profitability.

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1453 Words | 6 Pages

Without doubt, the overall effect of raising minimum wage will greatly hurt the economy by the overall loss of jobs that will occur. The article states “In a survey of 1,213 businesses and human resources professionals, 38% of employers who currently pay minimum wage said they would lay off some employees if the minimum wage was raised to $10.10. 54% said they would decrease hiring levels” (“Should the Federal Minimum Wage be Increased” 1). This quote emphasizes on the fact that around 40 percent of companies will lay off employees which would be atrocious because it would force the employees that got fired to have to hurry up to find a job especially if they have to support a family or pay the bills. The loss of all these jobs will put America in a lot of trouble and cause the employment rates through the roof.

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808 Words | 4 Pages

Many people are with or against the raise of minimum wage, should the United States of America raise the minimum wage? Opponents say that raising the federal minimum wage would would increase the amount jobs created, and also increase economic activity. The economic institute states that increasing the current federal minimum wage of $7.25 to $10.10 would create approximately 85,000 jobs and add $22.1 billion net into the economy (David). Business analysts and financial experts from the Federal Reserve Bank of Chicago concluded that by increasing the federal minimum wage would also increase accumulated household spending by $48 billion through the year boosting job growth and boosting GDP, short for gross domestic product.

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477 Words | 2 Pages

Living paycheck to paycheck doesn 't allow families to go out and buy other things that they want, they are only able to buy the necessities and sometimes aren 't available to do that. Families who are living on minimum wage may spend more time working trying to provide for their family than spending time for their family. By raising the minimum wage you would help millions of people who are currently earning $7.25, it would get many families out of poverty to help them live better lives and to better provide for their families. So in conclusion I believe that the minimum wage should be raised.

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1869 Words | 8 Pages

Economic Impacts: Today, Minimum wage is an important labor policy and it affects the nation's economy and people's welfare. Minimum wage aims to help not only those who are facing extreme poverty, but also human dignity. In addition, minimum wage policy affects the decisions of producers and consumers and affects the whole economy. Supporters of this policy think that it increases the standard of living and reduces poverty.

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