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Effect of raising minimum wage
Effect of raising minimum wage
Effects of minimum wage on the us economy
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More handpicked essays just for you.
Effect of raising minimum wage
Effect of raising minimum wage
Effects of minimum wage on the us economy
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Effect of raising minimum wage
The minimum wage and “crappy jobs” associated with it should be something that people strive to work themselves out of through education and a strong work ethic. Ideally, people get “crappy” minimum wage jobs as teenagers still in high school, and the experience teaches them to work hard and apply themselves in school, so that they don’t have to work at that “crappy” job
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.
Having children,needing to feed family,and providing essential needs are reasons why minimum wage is necessary to be raised. Research shows that minimum wage needs to be raised to help so many things in life. Have you wondered what would happen if the minimum wage was raised to
In 2013, 3.3 million Americans worked at an hourly rate at or below the federal minimum of $7.25 (Undisputed Facts 3). Hourly workers take on the difficult and dreaded work that no one else wants to endure, and in return, receive the bare minimum. Minimum wage workers deserve more, but instead they find themselves dealing with the hardships placed upon their families and themselves because of a lack of companion from the federal government. This is a serious problem that needs to be rectified, not only in the United States, but around the world. The national minimum wage should be raised to achieve alignment with the rising cost of living, reduce poverty, and create more jobs.
It established the federal minimum wage to help ensure that all work would be fairly rewarded and that regular employment would provide a decent quality of life. According to a report in the Raise the Wage Act of 2015, “Raising the minimum wage to $12 by 2020 would directly or indirectly lift wages for 35.1 million workers—more than one in four U.S. workers”. This would mean that the average affected worker would earn more than $2000 more a year with these raises. $2000 extra dollars can provide so much more for the hard working American. There are many people out there who barely survive on minimum wage due to the high cost of where they are living.
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
The federal minimum wage that was given to full time workers this past year in the United States, was $7.25 an hour. Picture yourself working at a job that pays you $7.25, say you work a full day of work for 8 hours, you get an average income of about $58 a day. What can you possibly do with $58? Activist and lawmakers from around the country said that “$7.25 does not offer workers enough to pay for life basics”(huffington post, 2016).For a minimum wage worker to live a regular life without struggling to keep up with his/her bills, he/she would have to work multiple jobs to help provide for the family.
A minimum wage was created so employees would receive a fair pay for the job that is being done. But, there is a limit to how high the minimum wage should reach. Raising the minimum wage can cause a great deal of issues in America and put a gross amount of people at a disadvantage. Many citizens in America believe the minimum wage should be higher, but the solution is not to have a higher minimum wage.
Minimum wage should be agreed upon to increase because no one should have to make the decision of keeping the lights on at their home or buying food for their kids to eat. The economy is growing and it is getting more expensive to live in the United States. At this rate, we will be back in a depression if pay is not increasing with the cost of living. In today’s world minimum wage is $7.25 and to rent a one bed room one bathroom is a $1,000 without water and utilities. Clothes, food, car payments, and gas to get to work and back should not be a struggle.
Since the Great Depression, there has been a minimum wage in America, but this minimum wage has changed 22 times since the Great Deprnbession. Many people say minimum wage should stay at $7.25 like it has been since 2009. Meanwhile, other people believe that minimum wage should be $15.00 so they can have more money to live comfortably. People think that a higher minimum wage will help, but it will hurt more people than it will help. If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out.
Not only will increasing the minimum wage make it pricier for businesses to hire young, inexperienced workers, but it is also not stated in the constitution to allow such a thing for the government to handle. Boosting the minimum wage will not alleviate poverty, and there are plenty of alternatives to decrease the poverty rate. Also, by leaving the amount the minimum wage should be to the government and no the people. America is losing its freedom and changing its economic system. By increasing minimum wage, America would be hurting its people, not helping them.
Minimum Wage was first enacted in 1938 during the Great Depression under Franklin Delano Roosevelt. It was initially set at $0.25 per hour, but today it is set at $7.25 an hour. In politics today, deciphering whether or not to increase the minimum wage is among one of the top controversial topics discussed. In this article, ProCon writes about the many different advantages as well as the disadvantages of increasing the minimum wage. Some of the arguments for raising the minimum wage that people tend to make are that it would increase economic activity and spur job growth, reduce poverty, and also would allow people to afford everyday essentials.
The minimum wage should be legally enforced to $15 an hour, due to the fact that, it will reduce national poverty rates. According to a 2014 Congressional Budget Office report, just by increasing the minimum wage from $7.25 to $9 there would be an increase of about 300,000 people out of poverty. Likewise, over 900,000 people would be raised out of poverty if the minimum wage was raised to $10.10. These poverty rate reductions provided in the Congressional Budget Office report are made by just a couple dollar increase, however a $6.75 increase to the
The concept that the National minimum wage needs to be elevated to $15 an hour hasn’t been completely considered because it would cause inflation for the economy; therefore, the lower class would still be functioning in poverty. A minimum wage job is low paying because it requires low skill; therefore the
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.