ipl-logo

Raising Minimum Wage Essay

1254 Words6 Pages
bulb-icon

Recommended: Effect of minimum wage on employment

Raising Minimum Wage As the cost of living continues to rise, it is more important than ever to ensure that all workers are able to earn a living wage. One of the most effective ways to address this issue is by raising the minimum wage. While some argue that raising the minimum wage will lead to job losses and hurt small businesses, the benefits of a higher minimum wage cannot be ignored. Raising the minimum wage is necessary to ensure that all workers can earn a living wage and support themselves and their families, boost consumer spending, stimulate economic growth, and reduce the gender pay Gap.
Many workers who earn the current minimum wage are unable to afford basic necessities like rent, food, and Healthcare. By raising the minimum …show more content…

First, some argue that raising the minimum wage will lead to job losses and hurt small businesses. When businesses are forced to pay their employees more, they may be unable to afford to keep all of their workers on staff, leading to layoffs and reduced hours. This can be particularly damaging for small businesses that operate on thin margins. Second, raising the minimum wage may also lead to increased automation as businesses seek to replace human workers with cheaper and more efficient machines in the long run. This could lead to further job losses and hurt workers who are already struggling to make ends meet. Third, some argue that raising the minimum wage may actually hurt the very workers it is intended to help by leading to higher prices and reduced hours. When businesses are forced to pay their employees more, they may be forced to raise prices in order to cover their costs. This can lead to reduced demand for goods and services, which can in turn lead to reduced hours for workers. Fourth, while raising the minimum wage may help to reduce the gender pay gap in the short term, it may not be a sustainable solution in the long run. Without addressing the root causes of the gender pay gap, such as discrimination and lack of access to education and training, raising the minimum wage may only serve as a temporary fix. Fifth, some argue that raising the minimum wage may actually hurt workers who are not currently earning the minimum wage by leading to wage compression. When the minimum wage is increased, workers who are currently earning slightly above the minimum wage may find that their wages are no longer competitive, leading to reduced wages and benefits. Sixth, raising the minimum wage may also lead to increased competition for low-wage jobs, making it more difficult for entry-level workers to find employment. This

Show More
Related
567 Words | 3 Pages

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

Read More
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

Read More
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.

Read More
733 Words | 3 Pages

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.

Read More
993 Words | 4 Pages

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.

Read More
1900 Words | 8 Pages

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

Read More
435 Words | 2 Pages

Small Businesses could go out of business if we raised the minimum wage to a higher price. This is a widely debated subject of money, income, and the effect raising the minimum wage can have on businesses and the economy. Currently, the federal minimum wage is seven dollars and twenty-five cents and have been established that way since 2009. It has been said minimum wage should be increased to accommodate living expenses and travel time to places of work. The problem with raising minimum wage , that many people do not realize, is how it affects big and small businesses.

Read More
105 Words | 1 Pages

Since the election and reelection of President Barack Obama the increase in minimum wage has been a major topic for the United States. His proposal to increase minimum wage has sparked a lot of controversy with some Americans. Many believing that increasing minimum wage will have a negative impact on our economy and even our educational system. They argue that increasing minimum wages will harm the very people it was intended to help because it will increase housing cost as well as the price of consumer goods. They argue that it will decrease the high school enrollment rates at the same time increase dropout rates.

Read More
465 Words | 2 Pages

One reason that raising minimum wage would help the economy is that it gives a change in income. Generally, an increase in income increases the demand for goods at all prices. If a worker has more money due to a raise

Read More
636 Words | 3 Pages

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).

Read More
1637 Words | 7 Pages

But yeah it is nice to have extra money by raising minimum wage but it is going to be the same thing overall, if not worse the bills are going to go up with it. Raising minimum wage could reduce the benefits you get such as insurance, vacation, and your future. Raising it as well means what about all the people that already have their worked their way to what the minimum wage wants to be set at. Do they expect them to stay at that same wage or go up as much as minimum wage raised. It is hard to raise the minimum wage

Read More
670 Words | 3 Pages

In conclusion, a federal minimum wage increase will significantly improve the standard of living of low-wage workers. To meet their basic needs, workers must be given a living wage. It is not only morally correct to do so, but also beneficiary to both ends. The increase in wages allows for a more supportable income, but it also stimulates the economy.

Read More
1506 Words | 7 Pages

Many families have to have strict budgets due to only making minimum wage. The minimum wage is not enough money for most people, in fact, most of the people that make minimum wage, work multiple jobs, leading them to overwork themselves constantly. Increasing the minimum wage has been a major argument for quite some time. Some people argue that the minimum wage should be raised to help benefit workers and reduce poverty. They also believe that raising the minimum wage would input more money into the economy, allowing it to strive.

Read More
607 Words | 3 Pages

There are a lot of potential benefits for an increase in minimum wage and on the surface it’s hard to see why you wouldn’t want to increase the wage. One of the clearest to see is that an increase to the minimum wage will also increase the spending for each household during the following years. So it works to help stimulate the economy in whatever area you increase the minimum wage. Along those same lines increasing the minimum wage will lead to a decrease in poverty as well. With the decrease in poverty you will also see a decrease in government spending on welfare items because the individuals receiving the higher wage in theory will be able to pay for these services/welfare items without assistance.

Read More
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.

Read More

More about Raising Minimum Wage Essay

Related Topics

Open Document