Increase Minimum Wage

In today's society many people work at a minimum wage job with getting paid $9.00 dollars an hour. Every year it seems to increase by $1.00 dollar by 2016 the minimum wage and what the workers will be getting paid will be $10.00 dollars. Which is getting close to someone who sits in an office all day and works for a big corporations or big business. Coming from someone who is a teenager and in high school working at minimum wage is not entirely bad but when they take out taxes and being underage is very unacceptable. What is going on today is in New York Board , many minimum wage workers are demanding that they increase minimum wage to $15.00 dollars an hour instead of 9 because many people in that state are tired of being paid under what

This would also cause many other states other than New York to start as well and many workers would start to protest as well. If the multibillion dollar company Mcdonald's decided to go with this other companies such as Carl's Jr , and Burger King would still be selling its products at a lower price than what mcdonald's sells theirs. That would be considered Price discrimination which is a pricing strategy where identical or largely similar goods or services are transacted at different prices by the same provider in different markets. Entirely there wouldn't be a policy that could make the situation better because it's all up to who runs that specific state. A man named Osmond Vitez said "Minimum wage increases can have severe effects for small businesses. Increases in payroll expense often require small business owners to raise consumer prices on goods and services or reduce business costs. The Payroll is often the highest expense for most small

With increasing minimum wage the government would receive more money from employees tax cuts and employees usually have lower wealth than other individuals in the economic marketplace. Tax liability increases can quickly erode the wealth of an individual living on minimum wage. Employees will also face higher payroll taxes, such as Social Security or Medicare, which can also reduce their immediate income. Also Governments increasing minimum wage levels often create a distortion in free market economies. Free market economies are usually driven by the economic theory of supply and demand. Businesses have a demand for employees and attempt to fill this demand from the available supply of individuals in the economic marketplace. Each party agrees to specific wages for a certain level of service. Minimum wage laws can create higher wages than companies are willing to pay for specific employee services. Also if small businesses were to do this would bring in many unskilled or lower-level people who would apply." They would entirely would be applying for just the money and not the work experience, also if they were to raise it many big businesses would try to shut that small business