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Should Minimum Wage Be Raised Essay

1183 Words5 Pages

Different economic aspects are commonly discussed and disagreed upon in all parts of the world. Specifically, in America financial conversations revolve around welfare, government assistant, taxes, and minimum wage. Many of these topics are a matter of opinion but one is simply not. The minimum wage in America should not be raised. Many people on the other side of this issue have kind hearted ideas but are guilelessly misinformed. Whereas most people see adding an extra seven dollars an hour to the minimum wage as a measure that will magically make life better for the middle and lower class, sadly this is far from the truth. If the minimum wage is raised it will hurt small businesses, higher cost of goods, low skilled and younger people will be at a disadvantage and minimum wage will …show more content…

It is a domino effect. The job market will drop due to the raising of minimum wage. While some will choose to lay off employees others will choose to increase the price of goods. So along with the minimum wage increasing, so will the expenses associated with living. Even though the person making minimum wage would be getting paid more in the end, it would have no large effect because the cost of most things would have risen too. A company's goal is to make money. If they are paying more, they are charging more. One who does not learn from history is doomed to repeat it. Make note that an increase of the minimum wage in the past was followed by an increase of the product prices. The inflation rate grows higher than the rate of wages, causing the economy to be in a worse shape than before. Also, when consumers prices rise to a certain level, then the people will want another increase on the minimum wage. Raising minimum wage will just be an ongoing lose lose situation. Efforts should be focused on real solutions, not temporary

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Why We Should Raise Minimum Wage

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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Pros And Cons Of Raising The Minimum Wage

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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How Does The Minimum Wage Affect The Economy

706 Words | 3 Pages

Raising the minimum wage will ruin our economy. Look at the big picture, businesses and companies will struggle or close, poverty will increase, and the price of consumer goods will rise. There are a few things that let economists know how the economy is doing at the moment. They’re called economic indicators, and 2 of them are consumer confidence and unemployment rate. The more people that are unemployed, the less money being used to buy things which hurts the economy.

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Should Minimum Wage Be Raised Essay

407 Words | 2 Pages

When you raise minimum wage you raise the price in everything else for instance if minimum wage was raised ten percent that also raises restaurant prices 0.7 cents that may not sound like a lot but it starts adding up sooner or later and who knows then it could raises prices a whole dollar. Some people think that because the cities they live in are so expensive that minimum wage should be raised but if you live in an expensive city and are also living off minimum wage and can not afford it then you should not be living there. Also women think that they can not have a good lifestyle for their children with what minimum wage is paying. If you are living off minimum wage and trying to raise children then maybe you should find a different job where you can afford a life for your kids. Minimum wage should be raised because the economy is at a point where if minimum wage is raised there would not be a drastic change.

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1146 Words | 5 Pages

Both sides a have great information to support their decision but the one that will have a better outcome will be chosen. The question is why now? Why do people decide that the minimum wage should be higher? Also why do people not agree with raising the minimum wage if it was been done for many years? Inflation is one of the problems troubling people in lower class, but some people think inflation is not affecting us and if it did the government would help.

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Should Minimum Wage Be Raised Essay

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.

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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.

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1278 Words | 6 Pages

Like mentioned before, raising the minimum wage would allow millions of Americans to provide their families with basics needs and living expenses. With many Americans thousands of dollars under the poverty line, the low minimum wage forces these people to seek additional help from the government. Employee's surviving at minimum wage are also often the same people who must rely on additional support of government run social programs to support themselves and their families on such a small amount of income (Halvorson). Raising the minimum wage could also encourage many employees to work harder while feeling accomplished by getting paid more. A minimum-wage boost could improve worker morale, which could in turn improve productivity and help keep turnover rates down (Williams).

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Should Minimum Wage Be Raised Essay

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An important reason why minimum wage needs to be raised is because many families that works in the fields do not have the resources to help their children to continue with their education. Jon Corzine, a politician ex senator, states “No family gets rich from earning the minimum wage in fact, the current minimum wage does not even lift a family out of poverty”. This means that the minimum is not really helpful and useful. It is significant because a lot of families have big dreams and they cannot make their dreams become true because they do not have enough money. Many people live in bad conditions because the minimum wage is not enough to live better.

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999 Words | 4 Pages

As a country, we’re facing an epidemic where finding steady employment is hard and the cost of living is high. This has caused many people to work a minimum wage job and struggle with paying rent and etc. A solution proposed to solve this problem would be to raise the minimum wage to something that a person could survive off of. However, this controversy has caused a debate between people who are split on the issue. There are people who are for it and people who are against it.

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Essay On Federal Minimum Wage

1261 Words | 6 Pages

While a minimum wage hike would benefit millions of workers with higher earnings, it would also hurt millions of others who would lose earnings because they cannot attain or retain a job (Holtz-Eakin and Gitis). Higher federal minimum wage increases the cost to employers of producing good and services. Employers consequently produce fewer goods and services, so they hire fewer workers. A federal minimum wage increase raises the cost of low-wage workers relative to other inputs that employers use to produce goods and services, such as machines, technology, and more productive higher-wage workers (Congressional Budget Office). Estimates show that raising the federal minimum wage to $12 per hour by 2020 would affect 38.3 million low-wage workers and that raising the federal minimum wage would cost 3.8 million low-wage jobs (Holtz-Eakin and Gitis).

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Should Minimum Wage Be Increased Essay

839 Words | 4 Pages

The reason is because, “When the cost of hiring workers rises, however, businesses hire fewer workers. Some workers get a raise while others lose their jobs.” (“Raising Minimum Wage Increases Unemployment”) Economists believe that increasing minimum wage will increase the unemployment rate because if the cost of hiring workers raises, businesses are most likely to hire fewer employees to cut their costs. So, there will be higher unemployment rate and the nation will be in economic

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Raising Minimum Wage Essay

926 Words | 4 Pages

The law permits that employers are required to pay their workers an established minimal amount for their work known as minimum wage. In the United States there are many individuals struggling to live due to only being paid the minimum wage. Many families consists of working parents but they are paid minimum wage from their employers struggling to live comfortably due to such a low pay wage. The controversy of raising minimum wage has been an ongoing topic throughout the years with many different point of views upon the issue.

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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

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Raising The Minimum Wage Essay

711 Words | 3 Pages

As of January 1st, 2018, eighteen American states increased the minimum wage because the national minimum hasn’t been adjusted for inflation in years. The current federal minimum wage is $7.25 which is worth twenty-five percent less than it was worth in 1968. This has far-reaching effects, whether it be on the economy or poverty levels. Raising the minimum wage wouldn’t just improve these metrics, it would also create income equality for gender and racial income gaps. It is simply is in the United States’ best interest to raise the minimum wage so that our country can thrive.

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