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The Benefits Of Raising Minimum Wage

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$15 an hour sounds great to almost everybody, but most people don’t realize that if we all made $15 an hour it wouldn’t be as great as it sounds.The federal minimum wage should not be raised and should be kept at $7.25 because its negative effects on people 's income, inflation of prices due to a domino effect and the loss of jobs in mass numbers. There is no reason to raise the minimum wage in the first place, one of the claims I have heard from you is the ”reduction of poverty.” The problem with this claim is that the majority of poor Americans do not work at all, for any wage, so raising the minimum wage does not help them. It is like giving extra milk to a lactose intolerant person, it has no effects and only takes milk away from the rest …show more content…

The man walked out of the store into the pouring rain with only a cookie and a small water to fuel his day. The inflationary effect of raising the minimum wage is essentially a tax on everyone who already makes more than the minimum wage. If the minimum wage is raised people who make more than minimum wage will have to pay for those costs, in the form of taxation. A $15 minimum wage sounds great for people who don’t make much, but cash that goes into one pocket must come out of another. Business owners with lots of minimum-wage employees would undeniably see their costs skyrocket. Maybe they 'll compensate by raising the prices at the fast-food restaurant they own, which would hurt many poor and middle-class families who would ultimately pay higher prices at these restaurants. There is no free lunch — the money to pay for a big wage …show more content…

I ask that you consider to look over your research and claims, and rethink what you have been desperately advertising for a long time. It will not go as well as you think, please don’t overlook the negative effects of your

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279 Words | 2 Pages

Almost all articles, for or against the raise, agree that as long as the poverty line is not adjusted, then state and federal services that low-income workers were previously using would decrease. This means that the money that is no longer being distributed in food stamps or other services can be returned to Washington, D.C. and be redistributed. Economists say that raising the Federal minimum wage to $9 will restore the dollar to its real value (The President’s Plan). And indexing the minimum wage would ensure that working families keep up with inflation.

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321 Words | 2 Pages

Is it ethical to raise the minimum wage when it doesn’t necessarily affect the very poor, the people it’s aimed at helping? The minimum wage is the lowest hourly wage an employer is permitted by law to pay an employee for his work. The current federal minimum wage is set at $7.25 an hour. Across the country, there is an overwhelming push in favor of raising wages for our poorest workers. In January 2016 the minimum wage in California was raised to $10 an hour.

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1993 Words | 8 Pages

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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796 Words | 4 Pages

Everyone is going to have different opinions over whether the minimum wage in the United States should be raised to $15 an hour or whether it shouldn’t, because there are pros and cons to each. The current minimum wage in the United States is $7.25 an hour and according to a Mother Jones article, Could You Survive on Fast Food Wages? Try our Calculator, the median wage fast-food workers receive is $8.94 an hour, while “on average they work about 24.5 hours per week” (Could You Survive on Fast Food Wages? Try our Calculator).

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733 Words | 3 Pages

A minimum wage increase from “$7.25 to $10.10 would result in a loss of 500,000 jobs”. ("The Effects of Minimum-Wage Increase on Employment and Family Income”) This claim is better because it shows how raising the minimum wage will decrease job growth instead of increasing it. But, the minimum wage should be increased because increasing will also increase economic activity and spur job growth, decrease poverty, and improvements in productivity and economic growth have outpaced increases in the minimum

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1457 Words | 6 Pages

On account of the increased wage, employers of businesses struggle with the increased cost of labor. This leaves them few options such as letting workers go or raising the price of their product. For example, “Former McDonald’s CEO Ed Rensi says a higher minimum wage will cost jobs and lead to the closing of many small businesses. In theory, raising minimum wage forces businesses to raise prices, which spurs inflation. But since wages are only part of the product costs that consumers pay, it’s not that simple.”

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598 Words | 3 Pages

This would make it where people wouldn 't have to live paycheck to paycheck. Raising the wage slightly would also make it so the price of goods wouldn 't have to be raised. The 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. This raise increase would be easy to implement and would help the economy. By implementing this new minimum wage many problems in America can be solved.

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670 Words | 3 Pages

Should Federal Minimum Wage be $15 an hour? The Fair Labor Standards Act of 1938 states that workers will be given a livable wage. By definition, a living wage is the minimum income necessary for a worker to meet basic needs. In the words of congress, it is “the minimum standard of living necessary for health, efficiency, and general well-being.”

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787 Words | 4 Pages

The first problem with raising minimum wage is inflation. Inflation is when prices rise because of the minimum wage rising. Setting the minimum wage to $15 an hour, which is what most people are wanting, businesses payroll would go up a lot. Taxes would go up if minimum wage went up because the government would need more money to pay for other jobs.

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1153 Words | 5 Pages

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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711 Words | 3 Pages

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.

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1413 Words | 6 Pages

On July 2015 Purdue University stated in a report an estimated 4.3% increase can be seen in the prices of fast food if restaurant employees are given an minimum wage of $15.00 an hour. (6) California already has one of the highest paying wages in the world and the reason why it’s able to compensate for this is due to the amount of revenue the state earns yearly. There are four possible actions firms can take in relations to the increase in minimum wage, which are to cut jobs/hours, raise prices, invest in labor-saving technology or moving their business to another state. Companies that only in California are more likely to simply increase their prices, preventing any unemployment. However, companies that compete nationally or internation don’t have the option to increase prices which could result in many of these companies moving to another state or numerous employees being laid-off.

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582 Words | 3 Pages

America today is faced with its fair share of problems. There are low employment rates, debt, and inflation everywhere, riddling the economy with issues. There is absolutely no reason that any American citizen should want to pile upon the problem. Yet, some believe that it could be done by raising the federal minimum wage to fifteen dollars an hour. Fortunately, history, economics, and common sense prove the minimum wage raise proposition wrong.

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776 Words | 4 Pages

Minimum wage Minimum wage in America is poverty it creates a wage lower than the living wage. It 's only backbone of support is social welfare and the affordable care act medicaid and obama care so people who have low wage paying jobs and minimum wage has to rely on taxpayers and the government to pay with their subsidizes, Because social welfare no longer becomes support but becomes a lifestyle. Minimum wage is set by the Department of labor, and fair labor standards act they set a minimum wage and a overtime pay. Why isn 't minimum wage raised to living wage or out of poverty level? Because if minimum wage goes up so does the prices of goods.

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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.

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