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Minimum Wage Pros And Cons Essay

559 Words3 Pages

The state of Florida, among many others in The United States has recently come under the weight of one of the most expensive debates of our time. The heavier questions behind the debate being whether it would hurt or hinder the state as a whole and will it help individuals make ends meet. Some Floridan’s believe an increase would lead to job cuts and leave the state of Florida in an economic down fall. Others believe it would benefit workers across the state in many ways. To gain perspective of both sides one must take into account the pros and cons of the potential change to understand the necessity and the growth potential Florida will gain from the rise. Researchers at Columbia University Mailman school of Public Health have conducted …show more content…

Some social factors include low levels of education, lack of social support and general cost of living versus income ratio imbalance. (www.mailman.columbia.edu) Rental payments ranging from $750.00 to well over $2000.00 in the Tampa Bay area alone deems it impossible to survive making Florida’s current minimum hourly wage at $8.25 per hour before taxes and other expenses. Raising minimum wage in Florida would benefit the state in tax dollars as with higher pay comes more funds that could be available for improvements to the state of Florida as a whole. These tax dollars would be accrued by the state through sales and property taxes amongst others as there is no current state income tax for Florida’s workers. (www.stateofflorida.com) Https://smartasset.com. On a federal tax level which aids the states as a whole, the amount of taxes owed by the I.R.S. to families below poverty and lower class. There are many variables that have the possibility of affecting the final determination of how much a taxpayer owes or has overpaid throughout the year. At $15 with a 40-hour work week the gross income amounts to 31,200. A gross income of this amount has full potential of leading to smaller payouts through the EITC (Earned Income Tax

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It’ll especially help college students significantly with tuition money, textbooks, school supplies, food, and car expenses. It’s ridiculous how our minimum wage in Pennsylvania isn’t the same with California’s wage (which is $10.00). It is truly unfair, and I feel as though this is something that I believe in for the residents in

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The State of Texas should follow the lead of other states across the country and begin to raise the minimum wage in increments. While it does not appear the federal minimum wage will be raised in the near future, Texas can act to assist the citizens of this state by raising the minimum wage. This should be done to accommodate for the growing inflation and productivity, provide the necessary income for individuals to provide for their family, and to reduce the need for government assistance programs. In 1968, the minimum wage was $1.60 and was $10.75 in today’s money.

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Los Angeles is just one of many American cities using a rise in the minimum wage to try to address poverty and inequality. State and local governments are acting where the federal government has not. Just over half of American states have legal minimum wage rates above the federal minimum, which has stood at $7.25 an hour since 2009 (The Data Team, 2015). The big question with minimum wage is what should it be raised to?

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James Letts Mrs.Murphy Writers workshop 2/17/23 Why the minimum wage should be raised The debate about raising the minimum wage continues to rage on in the United States, with no clear consensus in sight. Lawmakers have long avoided this issue, claiming that raising the minimum wage will lead to job loss and higher costs of living. However, the reality is that raising the minimum wage holds many benefits for both workers and employers, and should be a priority for lawmakers. Currently, the federal minimum wage stands at $7.25, and 21% of workers in the U.S. are making less than that.

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800 Words | 4 Pages

The article from” The current minimum wage is not enough to allow people to afford housing, states”In most areas of the U.S., a family of four with poverty-level income can afford a monthly rent of no more than $694 and many cannot even afford that. . I agree with the author because the minimum wage increases the economics and impacts the benefit of the wage. Raising the minimum wage would help reduce the budget by lowering spending on other needs. Basic needs such as housing and food are important and can increase their living

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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.

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Desiree Ripoll Professor Heuer ENC 1102 5/30/2017 Increasing the Minimum Wage is Good for America Raising the minimum wage is not only beneficial to those who are struggling financially, America’s economy would benefit from this as well. Doug Hall and David Cooper express how increasing the minimum wage would be a tool for modest job creation in the article “Raising the Minimum Wage Would Help Lower-Income Workers”. In the article “Is a $15 minimum wage economically feasible?” Jeannette Wick-Lims discusses how raising the minimum wage is good for the economy if we adapt to the changes accordingly.

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The cost of living is a difficult situation that many Americans across the country struggle with today. A heated debate that directly impacts the lives of all citizens is whether or not the price of minimum wage should be increased. Minimum wage is the standard amount of money earned for executing a basic skill job. Some people hold strong beliefs on why enlarging minimum wage is a major downfall, while others think this process is extremely beneficial. The following paragraphs will discuss the pros and cons surrounding both sides of this topic and the reasoning that births each one.

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560 Words | 3 Pages

Example of prices of the house , prices of the food , living cost for everywhere , the transformation cost I mean the gas prices for your car . Everything goes up so that way workers does not get more money from their company . The business owner who owns the business they also make more money than they need but they do not raises the employee’s wages which is does not make sense . they could be increase their employee’s wages too if their wages is high . So that way I would say worker should get $ 15 dollar per hour in Michigan workers .

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618 Words | 3 Pages

It has been nearly 14 years since the last increase in the federal minimum wage. To begin with, raising the minimum wage to match inflation and productivity would benefit the economy by increasing consumer activity and stimulating job growth while lowering the federal deficit. A journalist summarizes, “The federal

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The economic benefits of raising the minimum wage are well researched. The Economic Policy Institute found that, ”a minimum wage increase from the current rate of $7.25

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Many families have to have strict budgets due to only making minimum wage. The minimum wage is not enough money for most people, in fact, most of the people that make minimum wage, work multiple jobs, leading them to overwork themselves constantly. Increasing the minimum wage has been a major argument for quite some time. Some people argue that the minimum wage should be raised to help benefit workers and reduce poverty. They also believe that raising the minimum wage would input more money into the economy, allowing it to strive.

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“Employees 16 and older who are paid hourly makeup nearly 60 percent of the workforce” (Pathe, Simon). This means that over half of the U.S is paid on wages which would mean that changing the wage would affect a lot of people, so this is why this topic is so controversial. Although some may feel that the raising of minimum wage would be beneficial, many sources clarify that it would end up hurting the economy, increase poverty, and increase the cost of a substantial amount of goods. There are many reasons as to why raising minimum wage would not only increase crime, but also reduce school attendance. Consistency, critics may tend to believe that raising minimum wage to reduce crime rates is effective, while in contrast it increases crime

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1012 Words | 5 Pages

Americans spend $80 billion each year financing food stamps for the poor, but the country has no idea where or how the money is spent (Luke Rosiak, June 24, 2012). The rise of minimum wages would allow this number to decrease drastically. If minimum wage is increased by ten percent, it would reduce food stamp usage by two to three percent. This would allow for an improvement of approximately $4.6 billion that can be saved or returned to the taxpayer’s wallet (Rachel West and Michael Reich, 2014). If the numbers

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1557 Words | 7 Pages

Perhaps the most important duty of our countries lawmakers is designing rules and regulations to grow the economy. Minimum wage is a hot topic, and an increase raises a lot of red flags because if done incorrectly it could devastate the economy. If implemented properly, raising the minimum wage in certain areas could stimulate the economy and bring the lower class out of poverty. To implement these changes properly there are certain aspects that need to be done well. First, the minimum wage needs to take inflation into account.

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