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Top Ten Arguments For Raising Minimum Wage

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I am currently completing an on-campus Microeconomics course. When the subject of minimum wage came up, one of the other students made the comment that he thought minimum wage needed to go up because he had been in a job for almost a year and was still making minimum wage. Why should a person who is working at a fast food restaurant make more than what another person is willing to do the job for unless they have a special skill? The current debate is whether the minimum wage should be raised to $15.00. According to Jonathon M. Trugman in Raising Minimum Wage Would Cost a Million People Their Jobs even a small increase in the minimum wage would cost over 500,000 jobs. He states “The minimum wage is by design an entry-level wage; it is not supposed to be permanent.” Mike Patton in The Facts on Increasing the Minimum Wage takes this point a step further and says …show more content…

Bill Quigley’s Top Ten Arguments for Raising the Minimum Wage argues that since the impact is so negligible there should be no reason businesses can’t afford it. He also addresses the “free market” system stating it will not take care of the workers. He points out the special tax breaks for businesses and states that this is nothing compared to raising wages, but this has yet to be done. Overall they seem to all agree that the workforce should be paid more, but do not agree how this should be enforced or even encouraged. Quigley very clearly believes in a minimum wage hike, stating that businesses will not take care of the people. Patton after examining both sides of the argument believes that the worker should earn their wages by working hard and progressing up. Trugman seems to believe that if businesses had a lower corporate tax rate than the employee’s salary increase would be a natural side effect. I think Patton said it best with this quote” America is still the “Land of Opportunity” for those who will roll up their sleeves and work hard to obtain the necessary skills for a higher

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567 Words | 3 Pages

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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189 Words | 1 Pages

Although you can back up whether you think workers should be payed more or not, the minimum wages of fast food workers should not go up. If the minimum wages increased, taxes would increase as well and the people who earned higher paying jobs by getting a great college degree and deserve getting payed a pretty decent amount would be taken away money through taxes to give to people with an unskilled job that anyone can get, anyone. Now that doesn’t make any sense! Unemployment rates would also go up because if the minimum wages per hour double, then the company would have to fire half of their employees and lots of workers would lose their jobs. So, it would actually hurt the economy by raising the wages then it would do good.

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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.

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551 Words | 3 Pages

One of the biggest debates in the United States at the moment is whether or not the minimum wage should be increased. It has drawn a lot of arguments from economic experts, political players as well as many labor organization as to whether raising the minimum wage would be sustainable or not with each side of the divide providing reasons to support their case. However, the proponents of increasing minimum wage tend to have better arguments than those who oppose the increase. While in school, we had a debate with some of my classmates about the minimum wage and I learned about interesting arguments for those against and those for the increase. It is this curiosity that led me to want to dig deeper into the topic to find out more.

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1136 Words | 5 Pages

There has been a growing controversy surrounding the federal minimum wage and whether it should be raised to $15 dollars an hour or not. Many American minimum-wage working citizens support the notion that the federal minimum wage of $7.25 per hour should be raised to $15.00 per hour, based on the fact that a job which pays $7.25 an hour will not provide the funds necessary to support themselves or their families. While a pay-raise may seem to be the solution to their problem, raising the federal minimum wage would do more harm than good. The federal minimum wage should not be raised to $15.00 an hour because it is not economically feasible, and would hurt small businesses.

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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.

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681 Words | 3 Pages

Raising the minimum wage will cause many people to lose their jobs, prices to escalate, and may force other professions to raise their pay. However, if nothing is done, many people will continue to struggle day-to-day, check-to-check. While raising the minimum wage has a lot of problems, I believe there is one way everyone can be happy. Boost the economy. By boosting the economy money goes back into the country and in turn, lower the cost of living.

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1785 Words | 8 Pages

I found out that there are plenty of good reasons why it is very hard to just raise the minimum wage. If they did raise it the companies would have hard times paying for all their workers and this would cause lower employment rate which would cause more people being poor and homeless. I rather get paid a few less dollars than seeing people struggle and suffer. On the other hand it is very hard to raise a family on a salary that is very low. Somebody will have to pay for the

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588 Words | 3 Pages

Minimum wage hikes have been a long debated issue amongst workers and companies. In the article “The Minimum Wage: to raise or not to raise”, Mike Patton invalidates many of these minimum wage workers by stating that there is ample room in the upper class for those who wish to improve themselves and their economic standing (2015). This implies that achieving economic success is simply a matter of self-motivation rather than an element of luck in working opportunities. Patton continues by stating that the majority of minimum wage earners are young individuals working at entry level jobs (2015). Additionally, the minimum wage was never meant to be a career salary but a starter income for those in the early stage of their work life (Patton 2015).

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Also, it might take time for employers of many low-skill workers to learn how to economize on their labor costs. They will over time since the incentives to do so are much larger and that would be bad news for the very low skill workers the higher minimum wage is designed to help. Whenever increasing the minimum wage is discussed, there is always a concern that doing so might hurt job growth or imperil businesses that employ low-wage workers business they have to pay their works more and that could be hard for some business or companies. The effect of increasing the minimum wage on employment is probably the most studied topic in labor economics because the government has to worry about inflation and prices going up and also the consensus of the literature is that moderate increases in the minimum wage have little to no effect on employment.

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784 Words | 4 Pages

According to the Pew Research Center, “16 to 24-year-olds make up 50.4% of minimum wage earners” (“Should the Federal”). Raising the wage could take away incentive for young adults to get a better education. If one can get a high paying job without a high education, there isn’t that much of a point of going through tedious, vigourous, and expensive schooling. Another effect is that competition between workers is likely going to increase. If older people start trying to get more minimum wage jobs because the wages are higher, younger workers are going to have a hard time being hired.

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779 Words | 4 Pages

Minimum wage should be agreed upon to increase because no one should have to make the decision of keeping the lights on at their home or buying food for their kids to eat. The economy is growing and it is getting more expensive to live in the United States. At this rate, we will be back in a depression if pay is not increasing with the cost of living. In today’s world minimum wage is $7.25 and to rent a one bed room one bathroom is a $1,000 without water and utilities. Clothes, food, car payments, and gas to get to work and back should not be a struggle.

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1645 Words | 7 Pages

As prices rise, people obviously need more money to pay their bills and buy necessities. While those who are against increasing minimum wage would present their main argument as it could result in higher prices for consumers, it hurts low skilled workers, and it results in job loss (Slavov and Gorry). Minimum wages play a large role in today’s society as more than 3 million people work at or below minimum wage (Pathe). Many have started protests to get the minimum wage increased, some even want it to be increased to $15 per hour. President Elect Donald Trump believes that minimum wage should be increased to at least $10 per hour because that is the bare minimum that is needed for a feasible standard of living.

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776 Words | 4 Pages

Minimum wage Minimum wage in America is poverty it creates a wage lower than the living wage. It 's only backbone of support is social welfare and the affordable care act medicaid and obama care so people who have low wage paying jobs and minimum wage has to rely on taxpayers and the government to pay with their subsidizes, Because social welfare no longer becomes support but becomes a lifestyle. Minimum wage is set by the Department of labor, and fair labor standards act they set a minimum wage and a overtime pay. Why isn 't minimum wage raised to living wage or out of poverty level? Because if minimum wage goes up so does the prices of goods.

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228 Words | 1 Pages

The major reason against raising the minimum wage rate is that businesses are unwilling to overcompensate an individual if they have not contributed that amount of value to the company. In the article “Problems With Minimum Wage” author Jason Gillikin addresses this topic. “If an employer needs someone to perform odd jobs, and he values the work at $2 per hour, he will not hire a person if the minimum wage is $7 per hour, thus keeping unemployment in low-wage brackets higher than it would otherwise be” (Gillikin). In order to compensate for the increased cost of paying workers more than what they are contributing, a company may chooses to reduce the amount of total hours worked for each individual in an effort to reach an efficient wage expense.

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