ipl-logo

Minimum Wage Debate

777 Words4 Pages

Introduction “Raising the minimum wage has been hotly debated in cities and states for years. Supporters argue that it's a remedy for widening wage inequality and will boost consumer spending, while opponents counter that it could reduce opportunities for employment, particularly for teenagers and others looking for entry level or low-skilled jobs.” According to CNN, minimum wage has been an ongoing debate in politics. Many regions/states have their own take on minimum wage. It is ideal because of cost of living has changed, and employment is still down. The take on minimum wage is argumentative, and has positive and negative effects on the economy.
“A Case Against The Minimum Wage”
The minimum wage debate in the United States is something …show more content…

Many Louisianans argue that $7.25 an hour is not enough money to survive and because of this many are living below the poverty line. Earning such a low wage per hour is hindering many to be able to save to afford higher education and instead forcing them into depending on state/government assistance. Representative Bouie argues that $15.00 is not an ideal wage, it is a living wage. (REF 3)
“The Case for Raising the Minimum Wage Keeps Getting Stronger”
Minimum wage in North Dakota is $7.25 an hour. Those in North Dakota feel that a raise in minimum wage would boost consumer spending but reduce employment opportunities. Research has found this to be true, while there would be some jobs lost many would remain employed and the economy would not suffer. These studies have made many realize that even if there is job loss it would still be beneficial to many workers. One suggestion was that those whose jobs are replaced by electronics, machines, or robots should be trained for higher value, better paying jobs. (REF …show more content…

If the wage was risen, many companies would shut down. This means no jobs, and unemployment will rise. This is something like trickle down economy; if unemployment rise then so will poverty. Even though a risen wage sounds good for citizens, it is not good for the economy. If people are really concerned about this, I feel they should move to an area where cost of living is cheap, or minimum wage is higher to better accommodate. Also if the wage was to increase, it will still be a problem, and the government will find a way to make up what is lost that will not be in favor of

Show More
Related

Pros And Cons Of Raising The Minimum Wage

1094 Words | 5 Pages

First, one main reason that the minimum wage should be raised is because the economy will prosper. “Economic Policy Institute stated that a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion net into the economy and create about 85,000 new jobs over a three-year phase-in period” (ProCon). This quote shows that the economy will flourish from the increase of the minimum wage and that unemployment will decrease. Another quote that shows how raising the minimum wage will affect employment is “To the extent that through these contour effects it affords as much as 70 percent of the workforce greater purchasing power, it effectively increases aggregate demand for goods and services, which should ultimately lead to the creation of more jobs” (Challenger 19). Bryan Covert supports raising the minimum wage by

Read More

The Pros And Cons Of Federal Minimum Wage

1913 Words | 8 Pages

The current federal minimum wage is set at seven dollars and twenty-five cents. Many workers across the country are complaining that the purchasing power of the minimum wage is currently low, meaning one cannot buy as much while living off of the minimum wage. Moreover, citizens are work full time, while earning the minimum wage, are living, on average, several thousand dollars below the poverty line. However, an increase in the federal minimum wage may do more harm than good. It is likely that an immediate increase in the federal minimum wage will lead to an increase in high school drop outs, a large cut in the workforce, mass amounts of inflation, as well as a large amount of jobs being outsourced.

Read More

Why The Next President Should Raise The Minimum Wage

876 Words | 4 Pages

In the last few years, the topic of the minimum wage has been a highly debatable subject. There are numerous perspectives regarding raising the minimum wage. “The concept of the minimum wage can be defined as the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period,” (ILO,2014). A few of the common disagreements are how unemployment rates will be affected, who will be most affected by a change, and what alternatives are available. In the article “Why the next president should raise the minimum wage” Roger Lowenstein argues that it is his belief that raising the minimum wage will benefit society by reducing unemployment rates and thus reducing the amount of the population living in poverty.

Read More

How Does The Minimum Wage Affect The Economy

706 Words | 3 Pages

Raising the minimum wage will ruin our economy. Look at the big picture, businesses and companies will struggle or close, poverty will increase, and the price of consumer goods will rise. There are a few things that let economists know how the economy is doing at the moment. They’re called economic indicators, and 2 of them are consumer confidence and unemployment rate. The more people that are unemployed, the less money being used to buy things which hurts the economy.

Read More

Persuasive Essay On Minimum Wage

623 Words | 3 Pages

Today’s minimum of $7.25 an hour is worth 25 percent less than the minimum in the late 1960s. From research, a full-time, minimum-wage worker earns about $15,000 per year, which is below the federal poverty line for a worker with just one child. We need to raise the minimum wage to the point where the lowest-paid worker can afford their basic needs, such as food and other necessities. An increase to $10.00 an hour as proposed by President Barack Obama would actually reinstate the wage factor to the same value it had back in the 1960s. In doing so, it would lift earnings for nearly 28 million workers nationwide roughly 1 in 5 U.S. workers.

Read More

Pros And Cons Of Raising Minimum Wage

747 Words | 3 Pages

Discussion surrounding raising the minimum wage in the United States has been an ever-increasing talked about subject. Various arguments have been presented on either sides of the spectrum. With that being said, I believe that raising the minimum wage would have more negative effects on our economy than positive ones. As you may know, Former President Barack Obama was a supporter of increasing the minimum wage, once stating that “no one who works full time should have to live in poverty.”

Read More

Minimum Wage Limit Analysis

130 Words | 1 Pages

The argument of raising minimum wages have been really popular recently. In the article, the author talks about all the benefits of raising the minimum wage and what states have followed the bandwagon in doing so. The overall dilemma regarding the raise of minimum wage limits is whether raising the minimum wage really going to help the economy or is it just going to cause problems for the middle and upper class? The law of economics will introduce inflation into the raise and the economy will end up in the same position as before. For example, the standard of living on the west coast and the east coast is different because of different wage levels.

Read More

The Pros And Cons Of Raising Minimum Wage

435 Words | 2 Pages

An ongoing debate in today’s world is on whether or not the government should raise minimum wage. According to an ABC News article, “In 2014, 600 economists wrote a letter to President Obama and other lawmakers, urging them to raise the minimum wage to $10.10 now $7.25 an hour.” (Kim, Susan; ”Economists Weigh the Pros and Cons of a 15$ Minimum wage.”; ABC News; March 30,2016) People want a higher minimum wage to lower poverty rates; minimum wage should be enough to live off of. With the way today’s economy is, not many people are able to survive off of the little money they make from minimum wage.

Read More

Arguments Against Raising Minimum Wage Essay

636 Words | 3 Pages

Many politicians, business owners, and citizens hold fast to the belief that heightening the salary attached to minimum wage positions will yield negative benefits for our society. This opinion is supported by three vital view-points. The first can be found in the news article, “The Argument Against Raising Minimum Wage.” It expresses how the enlargement of this payment will take a toll on employment. The document reasons that if the amount of money employees earn is expanded, companies will be less likely to hire as many workers (Huppke).

Read More

Federal Minimum Wage Essay

618 Words | 3 Pages

. . The current value of the minimum wage in real dollars is at its lowest level since February 1956, when the lowest U.S. wage was 75 cents — the equivalent of $7.19 in June 2022 dollars” (Cerullo). The increase in the federal minimum wage and adjusting the price to compare with inflation would ensure that low-wage workers could adopt a standard of living that is equivalent to the current economy. The federal minimum wage should also be increased as it will allow minimum wage workers to afford basic living expenses. Currently, the minimum wage is not enough for people to afford housing and other necessities.

Read More

Raising The Minimum Wage Essay

519 Words | 3 Pages

The government should raise the minimum wage in order to benefit the people who are underpaid daily, and raise people’s standards of living. “6.6 million people will benefit from a rise in the minimum wage.” -Russ Carnahan The minimum wage in the United States is $7.25 an hour. Often, that can be enough to provide for a lower class family, but often not.

Read More

Raising Minimum Wage Essay

1181 Words | 5 Pages

For many years, there has been a great debate on the topic of whether to raise the minimum wage. Despite all the dispute, the consensus is still up in the air. Some states have already agreed to enact this movement, while others remain stagnant. Many have tried to argue of the benefits and downfalls of it. After researching heavily on the issue, I have come to concur that a push for minimum wage increase will result in individuals no longer living below the poverty line, government aid decreasing, and consumer spending increasing.

Read More

Persuasive Essay On Minimum Wage

427 Words | 2 Pages

In the state we live in minimum wage is just $7.25 which is not that bad for kids that is in school. Because some kids need jobs like at a restaurant that pays minimum wage so they can save and buy things that they want. But minimum wage is not good for all people because it just not enough. And those people are adults who may have kids that they have to take care of all on there on. So that is when the struggle comes in and it gets really hard for them because they only make $7.25 at there job.

Read More

Minimum Wage Debate Essay

490 Words | 2 Pages

The American Minimum Wage Rate Debate Introduction The discussion about what to do with minimum wage laws in America has been at a higher level recently, with current events such as the protests by activists. These include the "#FightFor15" group. It is a topic that many people apparently feel needs to be discussed. Although the federal minimum wage has not been increased in over six years, by the end of 2015, 29 states and the District of Columbia will have minimum wage rates above the federal $7.25 an hour.

Read More

Essay On Increase In Minimum Wage

704 Words | 3 Pages

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.

Read More

More about Minimum Wage Debate

Related Topics

Open Document