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Minimum Wage Raising

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What will impact raising the minimum wage in Arkansas have on the state? One is that some owners have to find a way to pay their workers a higher pay every hour their workers work. Other things that can impact the state is that the more you make at your job, is the more taxes the government takes away from your check. That’s a problem for the people because they won’t get as much because the taxes the government is taking away from people 's checks.
The raising of the minimum wage can have an impact on any business because they cannot keep up with the rise of minimum wage and can 't afford to pay their employees and that could be bad because they can go out of business.
This will impact the state in years to come because every year the …show more content…

Also, it might take time for employers of many low-skill workers to learn how to economize on their labor costs. They will over time since the incentives to do so are much larger and that would be bad news for the very low skill workers the higher minimum wage is designed to help. Whenever increasing the minimum wage is discussed, there is always a concern that doing so might hurt job growth or imperil businesses that employ low-wage workers business they have to pay their works more and that could be hard for some business or companies.
The effect of increasing the minimum wage on employment is probably the most studied topic in labor economics because the government has to worry about inflation and prices going up and also the consensus of the literature is that moderate increases in the minimum wage have little to no effect on employment.
The Good Thing that comes from raising the minimum wage is that it will give people more money for their families. Also raising the minimum wage a few cents or even dollars shouldn 't have a big impact on the people that are working. What researchers have found about raising the minimum wage is that it should not do any harm but a good thing for the people that are working for minimum wage. The only Problem that researchers have found is if the minimum wage comes to be 15 dollars an hour. That could have a bad impact on the people of Arkansas because that is a lot of money that people are getting and a lot of money companies have to pay for the

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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

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According to William Dunkelberg, a writer for Forbes magazine, by raising minimum wage there could become less jobs than before. Though the people who have jobs would be making more money, smaller companies wouldn’t be able to pay for their employee’s, and would have to let people go. “Small businesses stay in business

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Minimum wage would raise the wages of many workers and increment benefits what disadvantaged workers. An estimated 6.9 million workers would receive an incrementation in their hourly wage if the minimum rage were raised to $10.15 by 2015. Due to the spill over effect the 10.5 million workers earning up to a dollar above minimum wage would withal be liable to benefit from an incrementation. Women are the most astronomically immense group of beneficiaries from a minimum wage increase. Sixty percent of workers who would benefit from an incrementation are women.

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407 Words | 2 Pages

When you raise minimum wage you raise the price in everything else for instance if minimum wage was raised ten percent that also raises restaurant prices 0.7 cents that may not sound like a lot but it starts adding up sooner or later and who knows then it could raises prices a whole dollar. Some people think that because the cities they live in are so expensive that minimum wage should be raised but if you live in an expensive city and are also living off minimum wage and can not afford it then you should not be living there. Also women think that they can not have a good lifestyle for their children with what minimum wage is paying. If you are living off minimum wage and trying to raise children then maybe you should find a different job where you can afford a life for your kids. Minimum wage should be raised because the economy is at a point where if minimum wage is raised there would not be a drastic change.

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The people who are against the increase of minimum wage often argues that it will harm young adolescents the most, and that they will need the experience of working at the minimum wage. It is significantly unfair with other states, such as California and Massachusetts. The minimum wage for these states gives other states a disadvantage in the economy. I feel that every state should have the same price range of minimum wage just to make every state feel that they are equally the same without any disadvantages. Raising the minimum wage is something that should’ve been done a long time ago.

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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.

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There are people who work 40 hours a week and are still in poverty; this is a highly prominent issue. The uneven distribution of wealth, known as wealth inequality, is a problem that plagues not only America but also the world. With wealth inequality, there are two main issues and one solution to those issues. The problems are that the wealth in America is unevenly distributed and there people in America who work 40 hours a week and still have very little money. Wealth inequality is the root of all problems faced in America.

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One reason that raising minimum wage would help the economy is that it gives a change in income. Generally, an increase in income increases the demand for goods at all prices. If a worker has more money due to a raise

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The minimum wage increase would raise a worker’s pay by $6,000 a year (Smith 11). If a company has five employees, they would have to make an additional $30,000 just to break even with the previous year. That is huge task to overcome for a small business. A federal minimum wage increase would have a very negative effect on the small businesses of this

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The minimum wage will affect lots of people, it will make live easier for people and it will boost the economy. For the people who are in the zone of a raise in pay because they are working minimum or some where around their. The minimum is probably never going to be able to stay at one point for ever. Statistics show that most of the states are projected to have and increase on the minimum wage by at least 2018( United states minimum wage increase).

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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.

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Introduction More numbers of state are joining to take action to raise the minimum wage to $15 per hour in a few years even though there is a high disputing controversial all over the nation. The federal has set the minimum wage level to $7.25 on Jan. 1, 2015. In less than a year the index number of the minimum wage is going up automatically with cost of living. And eventually it will be likely to increase year by year with automatic and expectation index.

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A higher minimum wage for workers would take families out of poverty and have a positive effect on the economy. The changes it can make in the economy would be that people paying taxes would not have to pay as much because minimum wage workers would not have to use the programs like (SNAP) that they

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1032 Words | 5 Pages

The minimum wage being low teaches people the value of a penny because if you are making $7.25 an hour you will understand that you can not buy that new game you wanted because instead you will buy essentials; but if you started off making $20.00 an hour then you will not value your money as much as you should and you will end up living check by check instead of saving. If the minimum wage gets raised then the employees working there will get comfortable and may not want to get a different job and just

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If America raises the minimum wage to $9.00, it will help people in need or in poverty, but it also won’t hurt people in the workforce. If you increase the minimum wage to $15.00 it will make unemployment rates go high up. Which in the process, makes the homelessness rates go up in the country and in your community. If you keep the minimum wage at $7.25 people will stay in poverty and homeless or on the verge of homelessness.

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