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Pros and cons of minimum wage
Pros and cons of minimum wage
Pros and cons of minimum wage
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More handpicked essays just for you.
Pros and cons of minimum wage
Pros and cons of minimum wage
Pros and cons of minimum wage
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Recommended: Pros and cons of minimum wage
On the other hand, businesses are less willing to hire workers because the cost of labour has increased. As a result, the minimum wage creates a situation in the market whereby there are more labourers than the businesses can hire. In other words, there is now
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.
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.
Opponents also argued on how the increased wages for workers will decrease the workers’ incentives to receive better education. Since people who receive minimum wage are usually teens who just start out in the workforce, most of them earn money for personal wants rather than using it to support their whole family. Patton believe a minimum wage job “should never be the end game. Rather it should be a beginning step in the career path for those inclined to improve their circumstances”. The minimum wage will enable workers to start climbing up the ladder and gain more experience.
Raise Minimum Wage Raising minimum wage has always had a debate amongst people. There has always been a controversy of doing so has or not, how ever there is always some advantages and disadvantages in such topics as such. According to some studies from 2013, research shows that raising minimum wage could in fact increase job growth and activity. This research was based on the wages of $7.25ph increasing to $10.10ph and if it was done so, it would point 22.1 billion dollars net into economy and produce 85,000 if not more jobs in a period of 3 years. Studies also show that raising minimum wage would reduce poverty, a $10.10 minimum wage could save up to 900,000 people out of poverty (Congressional Budget Office).
There are often many stereotypes about who is actually making minimum wage. Many will come up with stereotypical demographics to feed their agenda. According to the Minimum wage report, the majority of Pennsylvania minimum or below wage earners are 16-25 year old, white women. These women more often than not are un-married, and or non-high school graduates. 10 percent of workers making minimum wage in Pennsylvania are single parents, and another 10 percent have one or more children.
Everyone is going to have different opinions over whether the minimum wage in the United States should be raised to $15 an hour or whether it shouldn’t, because there are pros and cons to each. The current minimum wage in the United States is $7.25 an hour and according to a Mother Jones article, Could You Survive on Fast Food Wages? Try our Calculator, the median wage fast-food workers receive is $8.94 an hour, while “on average they work about 24.5 hours per week” (Could You Survive on Fast Food Wages? Try our Calculator).
They said that they are not able to raise their prices to afford this and cover their expenses. Also, they state that they have reduce the amount of the minimum wage employees or reduce their work hours which will effect both the owners and employees negatively. Furthermore, raising the minimum wage will effect economic negatively. The economists concluded that as a result of the wage increase, "many prices will increase, including those that lower-income households commonly face; wages will raise for those in minimum wage jobs that remain employed; employment opportunities for those at the bottom of the skills ladder will be diminished and employment growth will
Recently in the news there has been a lot of talk about different states trying to pass raising the minimum wage pay. Currently, in most states minimum wage is $7.25 per hour. Although there have been some states that have risen that rate already, Wisconsin is still at $7.25 an hour. There has been a lot of talk about if this raise should happen. Some citizens think it’s not right and some do.
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.
In reality some people don’t have the education or skills to get a well paying job. Those are the people who end up taking minimum wage jobs or becoming homeless. Minimum wage is the lowest wage a worker can legally get. From the start of the law in 1938 the wage has increased slowly(Annalyn Kurtz, CNNMoney). Minimum wage should be kept and raised, it helps people who can’t get a higher paying job live.
History of Minimum Wage There has been much debate over the years about raising the federal minimum wage. Because of lack of action by congress, some states have taken it upon themselves to set higher minimum wages than the federal minimum wage. The minimum wage was put into place by President Franklin D. Roosevelt during the Great Depression. According to Jonathan Grossman, Historian for the U.S. Department of Labor, “On May 24, 1937, President Roosevelt sent the bill to Congress with a message that America should be able to give “all our able-bodied working men and women a fair day’s pay for a fair day’s work.” He continued: “A self-supporting and self-respecting democracy can plead no justification for the existence of child labor, no economic reason for chiseling worker’s wages or stretching workers’ hours.”
Increasing the minimum wage is necessary to create a more “equitable income distribution for disadvantaged groups.” The diagram to the left shows the percentage between the women and the men working for minimum wage and their ages. This clearly shows the separation between gender and even age groups. This is why the best way to put an end to all the segregation in the work field is raising minimum
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.
Many argue that an increase in minimum wage will help guide low skilled workers out of poverty and assist them into having a better career. That is not necessarily true, Many economists can agree that minimum wage jobs such as cashiers, host or a hostess are not jobs that meant to support a family. If anything by raising the minimum wage, it will put more people in poverty than guide them out of poverty. A raise in minimum wage will cause loss of jobs, an increase in the inflation rate, increase in