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Pros And Cons Of Increasing The Minimum Wage

815 Words4 Pages

Hunter Stalnaker
Mrs. Pryor
English III
26 January 2023

Why is minimum wage such a debatable topic? It’s simple, it affects people differently than it does others. For some people, it is crucial that minimum wage increases, and for others, it really doesnt make a difference. For most people the minimum wage is a very big deal which is why I strongly believe that the federal minimum wage should increase. I believe this because it would positively affect child neglect, infant mortality, and the national poverty rate. Increasing the minimum wage will help so many people and hurt less which is why it should increase. Increasing the minimum wage will decrease the national poverty rate. Research states that “Increasing the minimum wage will result …show more content…

Increasing the minimum wage will result in many people losing their jobs, and also result in employers not able to find workers. Research shows that “advocates of higher minimum wages confuse cause and effect. They think a higher minimum wage causes incomes to go up for low-skilled workers and doesn’t destroy jobs. Workers are assumed to have higher wages and retain their jobs as a result of government policy — even though they have done nothing to improve their job skills. But if a worker is producing $5.15 per hour and now the employer must pay $9 per hour, there will be little incentive to retain (him or her). There will also be little incentive to hire new workers.” (Palmer pg.1). This is important because by increasing the minimum wage it will cause people to lose their jobs simply because, People that are producing work worth $10.10 will most likely be fired due to the employer having to over pay them. I think that this is a possible problem but, it would not be that big of a deal because overall increasing the minimum wage has more pros than cons. Also the people that are let go from their jobs can easily find new work that they are more likely to be paid better for and then openings of their jobs that they were let go from will be replaced by people who are more skilled. This overall will drive the economy

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But would it? The Congressional Budget Office estimates that raising the minimum wage to $10.10 would boost earnings for around 16.5 million workers, while causing up to 1 million jobs to be eliminated. To me that’s not a great trade-off: according to CBO, the typical family living below the poverty line would see its annual income rise by only around $300, or about 2.8%. But for up to 1 million workers, their salaries would go to zero.

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A recent study involving three hundred fifty thousand small businesses and the IRS proved that by raising the minimum wage, proved that by raising the minimum wage in cities, actually created jobs (Meyerson A.19). The survey showed that the cities with a higher minimum wage had more jobs come to the area, aiding in job growth (Meyerson A.19). Another argument that leans toward the raising of the minimum wage involves people in poverty. Studies have shown that by raising the minimum wage, more people can live above the poverty line (Meyerson A.19). By raising the minimum over nine hundred thousand people would be

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If they raised the price than the people who make minimum would have to make more money so they would have to work two jobs making they spend less time with friends and family. Raising minimum wage would do absolutely nothing because it 's like if you had 2 dollars and something cost 4 you work a week get 20 dollars and then have 22 you can buy it but then the price raises to 26 dollars and so on. Finally people suggest the fact that even if you raise minimum wage than not all people would still want a job and it would be harder to find a job making the poor population either rise because of people getting fired or get better because of people finding

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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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This set in motion a sequence of raises in the minimum wage from $5.15 an hour to $5.85 to $6.55 and a final raise in 2009 to $7.25 an hour (“History of Changes to the Minimum Wage Law”). In their article, Quinn, et al, point out that since 2009, the cost of living has gone up significantly. They report high percentage increases for everyday necessities, such as the twenty percent increase in groceries and the twenty-five percent increase in a gallon of gas. These

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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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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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The federal minimum wage should be increased because it would decrease poverty rates, stimulate the economy, and inflation has surpassed current wages. A raise in the federal minimum wage would help pull millions of Americans out of poverty. Currently, there are over forty-three million Americans who live beneath the poverty line (“Should We Raise”). Of those in poverty, many are trying to support themselves, as well as their families, while living off of a minimum wage job.

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It would make the united states a better place it would reduce crime and poverty the lives of many would change children would have a chance at education and wouldn’t be put at risk of doing bad things cause their parents don’t have enough money to put them through school and things like employees not always wanting to look for a better job would be eliminated the whole idea of America becoming a better place would become achieved. It all just starts with the raising of minimum wage and its just a domino effect once the parents have enough money to pay the bill and put some aside the kids live happy and once the kids are happy the employee/ the parent is happy and once that happens the employee become more productive and when the employees are more productive the business becomes more successful and when the business becomes more successful and expands they are going to need more employees and when they need more employees there are more jobs so in the end raising the minimum wage would make the United states a better place better as a

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The minimum wage is especially difficult on small businesses, and there is no evidence that it reduces poverty. (Federal Minimum Wage 1) Finally, if we raise minimum raise it will make the economy better because people will have more money to spend. When people have more money they will buy more products for business. When people buy more things other companies will make more money and that helps them.

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There have been a lot of riots from minimum wage workers about raising the federal minimum wage to $15 an hour. However, many employers and non-minimum wage workers disagree. Many say that raising the minimum wage would damage the economy, and make house payments double, making the raise in minimum wage completely useless. Others might say that by raising minimum wages, more employers will lay off their employees and replace them with more robots, because it’s cheaper than paying a human worker $15 an hour. However, the real evidence behind why we shouldn’t is quite shocking.

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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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Some reasons why people disagree is because they can lose their business by going bankrupt and housing prices increase. Increasing the minimum wage would cause economic strain in many ways to workers already living in poverty. Another problem resulting from an increased minimum wage is that of potential job losses. Economists believe that increasing the minimum wage will increase the unemployment rate because if the cost of hiring workers rises, businesses are most likely to hire fewer employees to cut their costs. So, there will be a higher unemployment rate.

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Raising the federal minimum wage to $15 an hour is the most beneficial

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Erin Warner Dr. Jeanine Jewell English Composition 1020 21 February 2016 Raise Minimum Wage At All Costs All over the world, poverty has always been an issue, ever since the beginning of agriculture. Poverty is when a person is in the state of being inferior, or the state of being extremely poor. Regardless of how this sounds, if you’re not in the position, it probably doesn’t mean much to you. I believe that minimum wages are too low for the jobs that are only paid minimum wages.

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