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Positive and negatives with raising minimum wage
Why should we increase minimum wage
Pros and cons for raising the minimum wage
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A recent study involving three hundred fifty thousand small businesses and the IRS proved that by raising the minimum wage, proved that by raising the minimum wage in cities, actually created jobs (Meyerson A.19). The survey showed that the cities with a higher minimum wage had more jobs come to the area, aiding in job growth (Meyerson A.19). Another argument that leans toward the raising of the minimum wage involves people in poverty. Studies have shown that by raising the minimum wage, more people can live above the poverty line (Meyerson A.19). By raising the minimum over nine hundred thousand people would be
If they raised the price than the people who make minimum would have to make more money so they would have to work two jobs making they spend less time with friends and family. Raising minimum wage would do absolutely nothing because it 's like if you had 2 dollars and something cost 4 you work a week get 20 dollars and then have 22 you can buy it but then the price raises to 26 dollars and so on. Finally people suggest the fact that even if you raise minimum wage than not all people would still want a job and it would be harder to find a job making the poor population either rise because of people getting fired or get better because of people finding
This is because an increase in the minimum wage is based on improving the income and ultimately the lives of the lower class members of the community as far as salaries are concerned. However, these advocates rarely take time to investigate what the consequences of changing the minimum wage laws and policies (Sowell, 1). According to the fundamental economic principles, individuals are more
Does minimum wage really help our societies? In an episode of “30 Days”, the article “Serving in Florida”, and another article “Economists argue about minimum wages” these authors take different positions on their opinions of minimum wage. The argument of minimum wage has been a big conflict for years. Government leaders, celebrities, rich, poor, and anyone in between has stated their opinion on whether minimum wage is a good thing or a bad thing. These authors are just a few to begin with.
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.
I do not believe that it will be beneficial for the United States to pass a minimum wage policy that puts it over the poverty line. Basically, this will dive the prices of products up so companies can manage profits. Additionally, the demand for products will additionally drop because of the rise in prices. Since the demand for products will be dropping, this will lead to less money in the business owner’s packet, which can lead to job losses. Even though the minimum wage workers will have more money on pay day, the rise of goods will cause inflation, and they will still not be able to afford anything.
In fact: “Parents with two children working full time at the federal minimum wage of $7.25 an hour currently earn $4,700 below the poverty level.” (Olivia 1) Some family is a little better than that, they can feed their family, but it’s because that the children also going to work to help the family. No education, it will affect their future, but raising the worker’s wage will help, even just a little bit. Raising the wages can help these children to go to school, they might success in their life and they will benefit the country in the
Increasing the minimum wage to ten dollars and ten cents would have an impact on twenty eight million workers by getting an increase in pay(Perez). The average minimum wage worker is an adult over 20 and most of them have high school degrees or higher than that(Sklar). So that is about eighty eight percent of the minimum wage workers are 20 or older(Perez). The people in high school will greatly appreciate a raise also. This many people people will be impacted for the good why not just help the twenty eight
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.
Minimum wage is not enough for people to rely on. Many people that make minimum wage are likely to go through a time of poverty. Employees that make minimum wage are said to put less effort into the job, than the
If America raises the minimum wage to $9.00, it will help people in need or in poverty, but it also won’t hurt people in the workforce. If you increase the minimum wage to $15.00 it will make unemployment rates go high up. Which in the process, makes the homelessness rates go up in the country and in your community. If you keep the minimum wage at $7.25 people will stay in poverty and homeless or on the verge of homelessness.
According to the Congressional Budget Office report on The Effects of a Minimum-Wage Increase on Employment and Family Income, increasing the minimum wage from $7.25 to $10.10 per hour will only reduce the number of people in poverty by 900,000, a relatively few portion of the 16.5 million people that would supposedly benefit from the raise. This is because of the number of minimum wage workers, relatively few are actually in poverty and of families who live in poverty, only about 7 percent have a full-time worker in the family meaning poverty is not because people are not being paid enough, it is because they are not working or not working enough. In addition, they argued that if raising the minimum wage would increase family income for many low-wage workers, moving some of them out of poverty. It would cause a risk in a probable elimination of some jobs for low-wage workers and the income of those workers would fall substantially, again causing
Fifty-six percent of them are women. Even though some states already have a higher minimum wage, increasing the federal one will help thirty-eight million low-wage workers. Although some might say that increasing minimum salary might make products more expensive, it would really help the economy. People will earn more money, thus leading to more
Minimum wage helpful or disastrous for Americans Did you know that millions of minimum wage workers cannot make enough money to be over or at the poverty line level and are actually a lot more below it instead? There have been many issues on the topic of increasing the minimum wage from ten to fifteen dollars because it can cause inexperienced workers having a tough time getting or looking for jobs, families not being able to live on the minimum wage the way it stands now, and businesses not being able to create more jobs to hire more workers. For instance, an author named David Neumark believes that the effects of the minimum wage have a major issue that increasing minimum wage can reduce the numbers of jobs and pretty much screw over workers
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.
