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The Pros And Cons Of Minimum Wage

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What are the benefits and disadvantages of teenagers being paid at minimum wage?
Adolescents are stepping up and finding their first jobs at a minimum wage of $8.25 an hour, knowing that it is already this high according to the city of Chicago the minimum wage is currently an average of $8.25 an hour. There are plenty of disadvantages and advantages of teens taking home a “hefty” paycheck, compared to adults who have bills to pay. Most teenagers during the summer are usually on their couch or out with their friends. They don’t have a job which they would use to support their own social habits, or even begin to explore the ideas of the career path they would like to take. In comparison to those who believe that having a teenager with a higher …show more content…

In 2013, Fox News’ Fox & Friends, Fox Business correspondent Nicole Petallides has her own opinion about how raising the minimum wage will affect people. Nicole states, “As you continue to raise the minimum wage, which was $5.15 back in 2007, so it really has grown exponentially, we’ve had on the Fox Business Network, small business owners, franchise owners, who talk about the fact that they just won’t be hiring as much that if they go from $7.25 up to $9, then the nine-dollar employees are going to say hey, how come the inexperienced young worker is making what I’m making and I want a raise, too (Fox News, Fox & Friends Petallides). There are different feelings about raising the minimum wage or lowering it. CEPR: Minimum Wage Workers “Older and Better Educated Than Ever” stated, in an April 2012 report, the Center for Economic and Policy Research revealed that from 1979 to 2011 the share of low-wage workers with some college education increased from 19.5 percent to 33.3 percent. An additional 9.9 percent pf low-wage workers had also completed a college degree, up from 5.7 percent in 1979. [Center for Economic and Policy

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The topic of minimum wage is one that can lead to heated debates from both sides of the aisle over how much a person should be getting in payment versus how much work they do, or how hard they work to earn the payment. Countless people today are not getting paid the amount they should be based off of the work that they are putting in to their job. There are arguments leaning towards the raising of minimum wage, and there are arguments leaning against the raising of the minimum wage, however one of the arguments I find persuasive. There are some arguments that lean towards the raising of the minimum wage. The first argument presented involves job creation in the United States.

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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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198 Words | 1 Pages

I think teens should be paid less than the adults because it would encourage businesses to hire them and to gain work experience and learn valuable life and career skills. A high youth unemployment rate is bad for our society. First, many teens are trying to support their family and save money for college. But to do that, they need to get a job first.

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The first national minimum wage was not set until the year 1938 during the presidency of Franklin Delano Roosevelt. As a piece of the New Deal legislation, the Fair Labor Standards Act set new requirements regarding labor and wages. This act affected many things including setting a national minimum wage for the first time. Until this point, different groups had tried to set minimum wages but had failed. Courts generally found minimum wages unconstitutional against the ideal of liberty of contract.

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732 Words | 3 Pages

The State of New York and California have both passed legislation that will increase the minimum wage in both states to 15 dollars an hour. Although the minimum wage of both states will not immediately go into effect, the minimum wage will slowly works it's way up annually until reaching 15 dollars an hour. Bringing up the minimum wage will allow people working for at the minimum wage to afford the high cost of living in both states. The decision to bring up the minimum wage was met with divided opinions as Senators and Assembly members from both parties on opposing sides of one another. Ultimately, the pros of raising the minimum wage outweigh the cons astronomically.

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Does minimum wage really help our societies? In an episode of “30 Days”, the article “Serving in Florida”, and another article “Economists argue about minimum wages” these authors take different positions on their opinions of minimum wage. The argument of minimum wage has been a big conflict for years. Government leaders, celebrities, rich, poor, and anyone in between has stated their opinion on whether minimum wage is a good thing or a bad thing. These authors are just a few to begin with.

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What is minimum wage? According to dcitionary.com minimum wage can be defined as the lowest wage payable to employees in general or to designated employees as fixed by law or by union agreement. In our society today it’s become extremely difficult to find and keep a job. So many people have to take lower paying jobs just to get by. Many would argue that the government should increase the wages for the lower paying jobs.

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At the center of controversy is whether or not Uber drivers should make minimum wage. Uber is a private, on demand car service that one can use as a safer alternative to the traditional yellow taxi simply by pressing a call button on their phone. Uber allows everyday people to be their own boss and set their own hours, and each driver is allowed to pick up fares whenever they would like provided they have a valid driver's license and a safe vehicle. Uber stresses the value of their “self employed” drivers as one of the huge perks of their company, but some drivers argue their employment status is under Uber, not themselves, and therefore they should make minimum wage due to the fact they are a full time employee of the company.

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Can people really live off of minimum wage? What do the upper class think about minimum wage people? Do they even care about people who are living in poverty and struggling to survive in this society? In Georgia the minimum wage is $7.25 an hour.

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Therefore minimum wage for teenagers should be the same amount that it is for those who are older. Although it would not hurt large businesses, it would hurt small ones. In that case, minimum wage should only go into place for those businesses in which are bigger and more successful. Teenagers are ready to move out and they too need some money of their own to survive in the expensiveness that this world has.

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What Do People Think About When It Comes to the Minimum Wage? Many people are not concerned about raising the minimum wage because the majority support it. Greenhouse (2012) describes the opinions of people around the United States on minimum wage. Many state legislators are looking to raise the minimum wage in their respective states.

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770 Words | 4 Pages

“Price ceilings prevent a price from rising above a certain level. When a price ceiling is set below the equilibrium price, quantity demanded will exceed quantity supplied, and excess demand or shortages will result. Price floors prevent a price from falling below a certain level. When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result. Price floors and price ceilings often lead to unintended consequences.”

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645 Words | 3 Pages

Over a decade ago, Washingtonians had voted and favored the acknowledgement of the cost of minimum wage to continuously increase annually as long as the cost of living continues to surge in the state. Minimum wage is a living wage that aims to provide a standard living, account for the cost of housing and basic needs for an individual. As the cost of living continues to rise and minimum wage increases; economic inflation increases. Those that are entering the workforce for the first times and those without experiences obtaining employment are earning minimum wage almost to those that has already been in the workforce and with experience. People who are now currently working are oppressed by the increased wage of minimum wage.

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158 Words | 1 Pages

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.

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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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