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The Pros And Cons Of Raising Minimum Wage

1558 Words7 Pages

Should the federal minimum wage be raised? I don’t believe that the minimum wage should be raised at all, because it should be for people who have little to no skill set; not for people with a family who are trying to live off of it. Right now the federal minimum wage stands at $7.25 an hour, but some states have raised it to be higher; take Michigan for example. Michigan’s minimum wage is $8.15 (before taxes are deducted) an hour. Some states, depending on what it would be changed to, may not even see a difference. There are multiple reasons why the minimum wage shouldn’t increase from where it is at now. Firstly, raising the minimum wage won’t reduce the poverty level as so many people are mislead to believe. In the article “Raising the …show more content…

The Service Employees International Union have been waging a “Fight for $15” campaign battle since 2012 (Gollom). If raising the minimum wage to a number such as $15 an hour, and seemed like it would have a positive outcome, it would have been changed by …show more content…

Many people are afraid that by raising the minimum wage it will hurt the poor, reduce other job benefits, and reduce competition. A 1997 National Bureau of Economic Research study estimated that the federal minimum-wage hike of 1996 and 1997 actually increased the number of poor families by 4.5 percent (Henderson). Employers respond to forced higher wages by adjusting other components of employee compensation, such as health insurance or other benefits. Although few minimum wage workers have employer-provided health insurance, employers have found other ways to adjust, such as cutting on-the-job training (Henderson). Gov. Schwarzenegger’s proposed a 15 percent increase in the state minimum wage would destroy about 35,000 to 70,000 unskilled jobs-putting 1.5 to 3 percent of young Californians out of work. Overall, the proposed minimum wage increase in California would eliminate about 70,000 to 140,000 jobs. And a 15 percent increase in minimum wage nationwide would destroy about 290,000 to 590,000 young people's jobs, and about 400,000 to 800,000 jobs overall

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The Pros And Cons Of Raising Minimum Wage

484 Words | 2 Pages

Should the minimum wage go up? as it states in the article Daily Caller News Foundation by Connor D. Wolf “Union asking for $15 an hour. ”Many people would argue that it would a great idea to raise it up to $15 an hour,on the other hand people argue that it should stay the same,because it would cause inflation,the lost of jobs and the firms won't be able to afford to hire employees because they wouldn't be able to afford them as well its effect like raising up the price in items like groceries and gas. This is why we shouldn't raise the minimum wage. Minimum wage should not be raised,because it would cause the loss of jobs,today unions are asking to raise it up to $15 an hour.in the article Why we Shouldn't Raise the Minimum Wage by Kevin A.Hassett and

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The Pros And Cons Of Federal Minimum Wage

1913 Words | 8 Pages

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.

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The Pros And Cons Of Raising Minimum Wage

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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Essay On Raising The Federal Minimum Wage

733 Words | 3 Pages

A minimum wage increase from “$7.25 to $10.10 would result in a loss of 500,000 jobs”. ("The Effects of Minimum-Wage Increase on Employment and Family Income”) This claim is better because it shows how raising the minimum wage will decrease job growth instead of increasing it. But, the minimum wage should be increased because increasing will also increase economic activity and spur job growth, decrease poverty, and improvements in productivity and economic growth have outpaced increases in the minimum

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Increase Minimum Wage Essay

850 Words | 4 Pages

An analysis of the new bill to increase the minimum wage to $15 reveals several challenges employees, employers, and the state are facing: Higher cost of living, unemployment, and bankruptcy. Employers will have to raise prices of the products to increase the sales and profits. The state will have a higher cost of living than it had before. Unemployment will increase resulting in more dependency on the government. Many business owners may have to declare bankruptcy so they won't lose more money.

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The Pros And Cons Of Raising Minimum Wage

1018 Words | 5 Pages

According to Dube (2017), “the job losses in the study were far greater than in a control group of similar areas in Washington state (where the minimum wage was not raised). Because the study found that low-wage workers lost income as a result of the increase” (para.2). When the minimum wage is raised, low wage workers see a decrease in income. The job losses entail that raising the minimum wage has a negative impact on low-wage

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Raising Minimum Wage Essay

840 Words | 4 Pages

Currently in the United States, there is a strong effort by workers of the fast food industry as well as some of retail companies to raise the federal minimum wage to $15 per hour. The current minimum wage is $7.25 an hour, which turns out to be about $15,080 per year. This is said by many to be an unlivable salary and leaves minimum wage employees in poverty. However, by raising the federal minimum wage there is a greater potential to hurt the small businesses of this country or possibly leave them with no choice but to close their doors. Surely, that would lead to higher unemployment and an unstable economy.

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Pros And Cons Of Increasing Minimum Wage

662 Words | 3 Pages

People in today’s society think that raising the minimum wage to $15 is a great idea. There are people out there that need to think for once about how increasing the minimum wage can affect workers, especially younger people. If the minimum wage were to rise today, it would be impossible for teenagers to find a job. When the minimum wage gets boosted, businesses cut down on hiring teenagers. Nearly half of American workers are young people working and still living with their parents.

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1185 Words | 5 Pages

One of the main reasons is that if the the minimum wage is increased, employers will have no reason to keep employees. As stated, “ Suppose we increased the minimum wage to $300 per hour. Do you really think that most of us would keep our jobs? Of course not-there would be no incentive for employers to retain us” (Source B). A key component in this argument is that if minimum wage was increased, employers would automate many jobs that workers have.

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2265 Words | 10 Pages

The Debatable Wage The American people have the common misconception of the idea regarding the minimum wage, most people want it raised as to increase the monetary value of income to improve the lives of the working poor. However, this common idea may not be the best due to the inclinations of statistics and graphs that show how the economy could be affected if the wage increased drastically or moderately. My stance on the minimum wage topic is actually to not raise it, from the look of articles, newspapers, and statistics, if we raise the minimum wage to 15 dollars per hour that could have drastic and negative change in the economy. The only reason why this topic is debatable is due to the fact that the first few years of increasing the minimum

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Raising The Minimum Wage Essay

549 Words | 3 Pages

People against the raise claim that it would cause job loss because small businesses would not be able to keep up with the increases. If this was true, then San Francisco with a minimum wage of $15, would not be creating more small-business jobs than any other city. San Francisco’s success with its minimum wage increase proves that it would be beneficial for the nation’s economy. An adequate minimum wage actually increases a community’s level of sales and thereby creates more jobs.(Meyerson) The extra money in workers paychecks boost the economy because it would increase spending.

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Raising The Minimum Wage Essay

1159 Words | 5 Pages

Due to these problems, there has been controversy about why the minimum wage should stick where it is, raise the minimum wage to $15 an hour, and increase by a percentage based on the economic growth. Many possible

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775 Words | 4 Pages

Employees as well as employers and consumers will be affected by a jump in minimum wage. An article that highlights the flaws of the “Fight for Fifteen Movement” states, “The bandwagon for a $15-per-hour minimum wage has run head-on into the laws of economics. It’s pretty much totaled” (Kreutzer 2018). This illustrates the point that the laws of economics, as we read in our textbooks, will not allow the desired results that many believe a minimum wage hike will produce. While wages will increase for hourly workers, the hours they work may be cut as a result.

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1265 Words | 6 Pages

In today’s day and age, the current issue of increasing minimum wage is becoming a dilemma. There are two sides to this debate, whether to increase it or whether to keep it the same for the next upcoming years? The minimum wage is very low where many families are struggling to make ends meet. Our wealthy country should not let our working class citizens suffer any longer. Many individuals are struggling to pay simples bills including housing, utilities and most importantly childcare.

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Persuasive Essay On Minimum Wage

1012 Words | 5 Pages

The University of New Hampshire Survey Center conducted a survey of 1400 economists for the Employment Policies Institute on how they felt about a 15 dollar federal minimum wage. These are the results. Nearly three-quarters of these US-based economists opposed the increased minimum wage due to the fact that it will have negative effects on youth employment levels (83%), adult employment levels (52%), and the number of jobs available (76%). 80% of the economists also believed that employers will hire entry-level positions with greater skills, minimizing the employment rate of 50.4% workers (ages 16-24). Clearly, those educated in the field oppose the subject, why shouldn’t

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