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Pros And Cons Of Raising Minimun Wage

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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. Rasing the minimun wage will lead to inflation, which will lead to more wage strikes, which will again lead to inflation. It is a never ending cycle, called hyperinflation. When companies have to pay workers higher wages, they make less of a profit. So in return most companies will raise the price of their products. Rasing the minimum wage sounds like a simple fix, but it is really just a bad idea. When you go into a fast food restaurant who do you see working there? The majority of the employees are high school students. If you were to ask those high school students if they would rather be paid $7.25 an hour or $15.00 an hour, without a second thought they would answer $15.00. It would be great to make $15.00 an hour throughout high school. What those teens don't know is …show more content…

This figure does not even include the many hours of unpaid overtime that soldiers put in everyday. If the minimum wage is $15.00 an hour, then a full time employee at McDonald's would be making $31,000 a year just starting out. Even after two years of experience and dedication, an American soldier would only be making around $10.66 an hour. It is really sickening that someone who has chosen to flip burgers for a living would be making more than someone who has decided to fight for their country. There is no need for a high school student to be making more than an American soldier. Those brave men and women put their lives on the line for our freedom. They go to hostile foreign lands, get shot at, and give up their civilian lives. For what? They do it for us. And in return we raise the wages for McDonald's employees. I think freedom is more important than

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Of course, there are some instances where people get paid minimum wage to do very difficult jobs that they should be making much more at, but for the most part the minimum wage is a useful guideline for companies to refer to when setting their wages. Today teenagers commonly think of the minimum wage and what the article refers to as a “crappy job” together. Williams writes in his articles that he and his friends

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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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807 Words | 4 Pages

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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1094 Words | 5 Pages

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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1913 Words | 8 Pages

The current federal minimum wage is set at seven dollars and twenty-five cents. Many workers across the country are complaining that the purchasing power of the minimum wage is currently low, meaning one cannot buy as much while living off of the minimum wage. Moreover, citizens are work full time, while earning the minimum wage, are living, on average, several thousand dollars below the poverty line. However, an increase in the federal minimum wage may do more harm than good. It is likely that an immediate increase in the federal minimum wage will lead to an increase in high school drop outs, a large cut in the workforce, mass amounts of inflation, as well as a large amount of jobs being outsourced.

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Similarly stated by Lauren Dixon in her article, “How Does the Minimum Wage Impact the Economy.” She recognizes that, “minimum wage then helps mitigate that imbalance of power between employers and low-wage workers” (Dixon 1). Likewise, it would also destroy the purchasing power of consumers, as they would continue to have fewer money to purchase their needs and wants. Since 2009, the federal minimum wage has been

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437 Words | 2 Pages

I am currently completing an on-campus Microeconomics course. When the subject of minimum wage came up, one of the other students made the comment that he thought minimum wage needed to go up because he had been in a job for almost a year and was still making minimum wage. Why should a person who is working at a fast food restaurant make more than what another person is willing to do the job for unless they have a special skill? The current debate is whether the minimum wage should be raised to $15.00.

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There are multiple reasons why the minimum wage shouldn’t increase from where it is at now. Firstly, raising the minimum wage won’t reduce the poverty level as so many people are mislead to believe. In the article “Raising the

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Raising the minimum wage isn 't entirely beneficial. It could potentially lead to more unemployment as some businesses may reduce their number of employees or reduce their hours in order to offset the cost of paying a higher minimum wage. Some may also increase the prices of products or services offered. It can also possibly lead to a decreased interest in college education since minimum wage jobs are paid almost the same or can be more than what jobs requiring college education pay.

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1162 Words | 5 Pages

it says that in fast food restaurants nearly 100% of increased labor costs would be pushed into their prices. Therefore, even if people are making more money, there will still be more money coming out of their pockets to pay for goods and services. So hypothetically wouldn’t they still be just as poor if they’re spending more while making more? But that isn’t all of the negative effects raising the minimum wage would have on small businesses. If the minimum wage was to move to say $15.00 per hour, then the business would have to

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495 Words | 2 Pages

Although a minority of workers will experience pay raise or may even be brought out of poverty, the majority of workers would face unemployment and, if not that, would only be allowed to work for a short period of time in order for their bosses to compensate for the raise in mandatory pay. Also, some economists dispute that raising the minimum wage will have little to no effect on poverty rates altogether. For these reasons, I do not believe the minimum wage should be

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584 Words | 3 Pages

The impact of a substantial increase to the minimum would be too great for many small businesses, and the unemployment rates would be greatly impacted, as well as financial assistance for those below the poverty level. “Minimum wage was started in 1938 with the passage of the Fair labor Standards Act and has been increased 22 times since” (Pros and Cons of Raising the Minimum Wage). “The most recent adjustment was in 2009” (Pros and Cons of Raising the Minimum Wage) To increase the minimum wage at the current levels being

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290 Words | 2 Pages

At first glance, raising the current minimum wage seems like an outstanding idea and one may think, “Hey, it’s not hurting anyone.” In reality these good intentions will result in many unintended consequences such as causing businesses to hire fewer workers, it has no effect on reducing poverty and will decrease employment. A common misconception referring to minimum wage in the United States is that the current minimum wage is not enough to make a living and support a family. The majority of minimum wage workers are between the ages of 16 and 24 years old.

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726 Words | 3 Pages

But the people working at fast food chains and gas stations are still making minimum wage. “More than 400,000 workers make less than $15 an hour” (Lanzinger). The people who make minimum wage need to make more. The more money they make the more money they can spend for groceries and other stuff that is required for

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566 Words | 3 Pages

Americans below the poverty line are demanding for increased pay in their minimum wage jobs. Although with the increase to fifteen dollars an hour, many Americans would be left jobless pushing them farther under the poverty line increasing the wage by over half would harm the country’s economy more than improve it. Minimum wage workers want higher wages for the work they provide, but inflation, unemployment, and businesses closing will only cause more issues for Americans. The disadvantage to raising the pay for minimum wage workers is inflation.

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