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Raising Minimum Wage Research Paper

741 Words3 Pages

Imagine working in a minimum wage job in California. Imagine working at a minimum wage job and not being able to sustain your family. Minimum Wage job is a common misconception. This is often referred to adolescent or college students working at the part time, so they can pay for their student loans or their personal needs. But reality is another one the people who are work in a minimum wage job are mostly over the age of 35, who are only working so they can support them or their family in many cases. So, raising the minimum wage by 5 dollars is going to end poverty. Though many people argue that by raising it, is just going increase the unemployment rate. While I do acknowledge and take into consideration, this act takes care for those families …show more content…

One in particular, John Schmitt, states “the minimum wage has little or no discernible effect on the employment prospects of low-wage workers. The most likely reason for this outcome is that the cost shock of the minimum wage is small relative to most firms' overall costs and only modest relative to the wages paid to low-wage workers.” Through this, we can understand that is impassable because of the self-existent fact of the workers being pay in such small quantities and not large quantities that causes to diminish the gap between and lower and higher paid employees. Therefore, since there a gap more people are going to have sufficient and equal opportunities as other. Not only does it debunk, but it is more beneficially. As it can increase the unemployment rate by more people earning money it increases the productivity of goods, grossing the worker’s demand for goods which turns into hiring …show more content…

Giving these points, minimum wage should be increase because is going to end poverty by sustaining families and by helping college kids with their loans. This is going to change the lives of people who right now are struggling, are struggling to feed their children, they are struggling with their loans or personal needs. All this can change, poverty should end, and college students will continue pursuing their dreams. So, take action on what you believe is right, and what’s right is being a helping hand in this

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Argument against Minimum Wage Claim:  Raising the minimum wage could lead to bigger problems. Support:  The US would lose 500,000 jobs (Congressional Budget Office report, Economist and public policy experts )  Increased consumer prices, driven by companies offsetting increased labor cost (Econo-mist and public policy experts).  A possibility higher minimum wage would attract more experience workers that would stay in a low paying wage longer, which makes young people and other people with lim-ited work experience not land entry-level jobs (Economist and public policy experts).

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