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Opinion essay on increasing minimum wage
Opinion essay on increasing minimum wage
Opinion essay on increasing minimum wage
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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.
One policy that was implemented to raise economic growth and living standard is the minimum wage law. Minimum wage is the lowest payment given to a worker or employee for their service after working a set number of hours (Wikipedia, 2007). The living wage approach has drawn numerous attention and criticism, whether it benefits the economy or not. Supporters of base pay believe that it helps people by improving lifestyle and meeting acceptable needs (Wikipedia, 2007). However, opponents view that it decreases the employment rate and economic stability.
Conclusion and Recommendations: In conclusion, high minimum wage is starting to become a growing concern as time goes on. Many stakeholders are affected by high minimum wage, which includes, employees/future employees, managers, foreign/local organizations, and also the Canadian government. Just like how managers have to somehow find a way to achieve a goal while minimum wage continues to rise, the government also have to find a way to control minimum wage in a way that all stakeholders involved will be satisfied about it. This becomes very difficult as employees ask for a higher minimum wage, and foreign/local managers wish for a lower minimum wage to cut back on expenses.
Many Americans view increasing minimum wage as an issue for countless reasons. Some politicians and businesspersons argue that raising the minimum wage will slow economic growth and cause inflations. With an increase in
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.
The federal minimum wage has long been a topic of controversy in U.S. domestic policy. In fact it’s been in contention since its inception. The U.S. followed the models lead by Australia and New Zealand, which established the world’s first minimum wage policies in the 1890s. The Progressive faction here at home introduced the idea of a U.S. minimum wage; their argument was that a wage should be sufficient enough to support a common worker's necessities. This resonates just as arguments used today, and proponents even go further in prospects of increasing the Federal minimum wage.
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.
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.
Recently, there has been a huge movement throughout the whole country to raise the federal standard of the minimum wage. The proposal has caused much debate throughout the country because with the raising of the the minimum wage , the cost of living will also go up. This has been
The minimum wage has been legally mandated at the federal level in the United States in 1938 under Fair Labor Standards Act in 1938. The general concept of minimum wage was by increasing the hourly wages of workers, their income would increase and thus making it easier for workers to afford necessities to maintain their life (Fairchild 31). The politics of the minimum wage have helped push employers to help the working poor by forcing them to pay more. While a federal minimum wage has been mandated, and over the course of years it has increased with respect to inflation, states have been able to adopt their own minimum wages that are above the federally mandated wage. What determines these states to adopt wages above the federal level?
Minimum wage is an extremely controversial topic. It is argued at both the state and federal level to a great extent. Some believe that the minimum wage should be increased to $11 or even $15 an hour, advocating for adequate pay for decent living conditions. While others think that minimum wage should remain as is, or even lower. Unemployment is also an arguable topic.
Minimum wage for workers in the United States has been a very widely discussed topic. The Fair Labor Standards Act in 1938 established an hourly minimum wage of 25 cents. ( )It has risen a lot since then. In my opinion, I believe the minimum wage rate can only have positive effects on the population. The states have different minimum wage laws.
Conservative economists view the minimum wage argument as a series of points on a chart. If labour costs go by x, profits will decrease by y. The reason this point fails is that workers are not robots who react the same to inputs and outputs. They are humans with feelings and emotions are reacting to changes in their environment differently. That is the heart of the liberal perspective on increasing the minimum wage and paying employees more will not just help workers but business owners and the population at large.
1. Introduction In the modest term, a minimum wage is a lawfully authorized minor bound for wages, but the term “lawfully authorised” is unclear, leading too many different kinds of minimum wages institutions (Cunningham et al, 2007:19). It further states that in the most straight forward cases, such as Brazil and Bolivia, the federal government identifies a wage level and all employers in the country must pay at that level or above it (2007:19). Economist have tended to oppose minimum wage on the grounds that they reduce employment , hurting many of those they are supposed to help (the economist:24/11/2012).
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.
