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Pros And Cons Of Minimum Wage

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Once upon a time a debate started between economists about a theory called minimum wage. It is the year 2016 and the controversy of ‘who is for it’ and ‘who is against it’ is still undergoing, (Derrell, 2016) verified. According to (Anon., 1828), minimum wage can be defined as “an amount of money that is the least amount of money per hour that workers must be paid according to the law”. The purpose of this theory is to help workers earn enough income even though not all of them are as trained as they should be. There are pros and cons to this theory but at the end it all comes down to how you few the evidence. This concept has an impact on several key components of the economy, such as employment, wages, earnings and poverty. The Minimum wage
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One of the cons to increasing the minimum wage is that it helps larger corporations and hurts smaller businesses, therefore, competition is decreased. The bigger companies use raising wages acts as a barrier to entry to new business entering the market and create a monopoly for larger companies who have more profits to afford the increase. An example of this is Wal-Mart, who can afford to pay employees nine dollars and twenty cents an hour but a little store such as Meijer 's who does not make as much profit would limit their hiring of new employees and would cut hours to compensate. A family store might decide that the cost of entering the market is too high to endure as they build up their clientele and develop their business they decide not

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Minimun Wage One of the major topics debated in America today is whether or not to raise the minimum wage. People think that rasing the minimum wage will help put an end to poverty. This is not true.

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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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After reading these two letters I believe, that employees who recieve tips should be getting paid the same minimum wage as other employees. I speak from experince from my old job, I wasn't getting paid the minimum wage that other employees were getting. So i know how these employees feel. They have to count on tips as a major part of there income, that is unfair.

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The federal minimum wage has been increased twenty-two times since President Franklin Delano Roosevelt signed the bill into law in 1938. President Roosevelt was an avid supporter of a federal minimum wage as he says that “no business which depends for existence on paying less than living wages to its workers has any right to continue in this country.” Raising the federal minimum wage has many pros and cons, but is a necessity to thrive in society. People have argued that raising the minimum wage will cause inflation, but it will create various economical benefits, income benefits, production benefits, and improve racial justice.

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This is because an increase in the minimum wage is based on improving the income and ultimately the lives of the lower class members of the community as far as salaries are concerned. However, these advocates rarely take time to investigate what the consequences of changing the minimum wage laws and policies (Sowell, 1). According to the fundamental economic principles, individuals are more

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Berlatsky, Noah. The Minimum Wage. n.p.: Detroit: Greenhaven Press, c2012., 2012. Joliet Junior College Library Catalog.

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Opponents also argued on how the increased wages for workers will decrease the workers’ incentives to receive better education. Since people who receive minimum wage are usually teens who just start out in the workforce, most of them earn money for personal wants rather than using it to support their whole family. Patton believe a minimum wage job “should never be the end game. Rather it should be a beginning step in the career path for those inclined to improve their circumstances”. The minimum wage will enable workers to start climbing up the ladder and gain more experience.

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In the last few years, the topic of the minimum wage has been a highly debatable subject. There are numerous perspectives regarding raising the minimum wage. “The concept of the minimum wage can be defined as the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period,” (ILO,2014). A few of the common disagreements are how unemployment rates will be affected, who will be most affected by a change, and what alternatives are available. In the article “Why the next president should raise the minimum wage” Roger Lowenstein argues that it is his belief that raising the minimum wage will benefit society by reducing unemployment rates and thus reducing the amount of the population living in poverty.

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The Federal Minimum Wage is widely considered to be the backbone of American workers’ rights. Minimum wage was created and implemented to ensure that workers get paid fairly for the time that they work, and get paid enough to support themselves and their families. However, this, though once a reality, is no longer happening. Because of the inadequacy of the Federal Minimum Wage, and perhaps more importantly, the gross negligence of the Executive Branch of the United States government of said inadequacy, as was displayed by the Republican­controlled Congress blocking a bill in 2014 that would have raised the Federal Minimum Wage to $10.10 per hour, workers are suffering and struggling to avoid poverty and personal economic disaster. The federal

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Raising the minimum wage will allow society to keep up with inflation, extract people out of poverty, and stimulate the economy. Even though there are some negatives to increasing the wage, many of the opposing arguments have been found to be false or even have had the opposite effect. Increasing the wage will be beneficial to the workers as well as the businesses, making the wage increase a positive change in the United States economy.

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People never think of the cons that come with raising minimum wage; they only think about how they could profit from it. Servers at "Waffle Now" eating establishment, have complained about how they need a more plentiful pay. I understand that with giving a higher wage, it creates people's pockets to become bigger and they could thrive on all their responsiblites. But, with extending the wage, this comes with amping up prices in the restaurant, have a shortage of staff , while also cutting hours or people possibly from their job. Pay more could potentially set back this restarunt that already isn't flourish the way it should.

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The Minimum Wage Higher or Lower I have something to say to everyone who can afford to have a nice property or who can not pay 1 month of rent. I go for a not so high minimum wage but also not so low. Here is why, first having it low will lower the cost of mostly everything, and when there is little of something the value of it goes up. In the contrary, if everyone has 1 million dollars then the value of a house will go to half of a billion.

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Many politicians, business owners, and citizens hold fast to the belief that heightening the salary attached to minimum wage positions will yield negative benefits for our society. This opinion is supported by three vital view-points. The first can be found in the news article, “The Argument Against Raising Minimum Wage.” It expresses how the enlargement of this payment will take a toll on employment. The document reasons that if the amount of money employees earn is expanded, companies will be less likely to hire as many workers (Huppke).

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Introduction Minimum wage is the lowest hourly rate an employer can pay an employee for hours worked. The topic of raising the minimum wage is a sensitive issue for many people. The livelihood of many relevant stakeholders will be directly effected by policies created in regards to raising minimum wage, both positively and negatively. This paper will examine the history and current state of minimum wage. It will identify the issues connected to raising minimum wage, analyze the arguments for and against, and make recommendations based on the analysis.

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