Minimum Wage Pros And Cons Essay

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

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