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Positive versus negative effects of raising the minimum wage
Positives of raising minimum wage effects
Positives of raising minimum wage effects
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One of the biggest debates going on in America today is whether or not minimum wage should be raised or remain the same. Minimum wage is an hourly wage rate that is set by the law and currently stands at $7.25. These laws are a way to ensure people that while they work they can make enough money to support themselves until they are able to get a more skilled and high paying job. Most people who want minimum wage to be raised see it as a way to earn more money to live in better living conditions, get another step above the poverty level, and improve the economy because they would have more money to spend. If Americans focus on the general outcome and pay attention to the facts instead of just the incoming money into their pockets, they would notice that there is absolutely no reason that minimum wage should be raised. Minimum wage should not be raised because it will hurt the growth of the economy instead of help it. The cost of living varies around the country from state to state and especially the location of …show more content…
Increase in minimum wage would result in less of a job market because more Americans would be on the search for higher pay. Many who are jobless would be unable to have a chance to get hired because employers would be concerned on how many employees they would be able to pay while still being able to afford all their products (Ortiz). However, if minimum wage gets raised it would reduce the incentive for low-waged workers to want to get a higher education and work their way to a higher paying job. The lower the minimum wage the more tempted a minimum wage worker would possible be eager to attend college, learn the required skills, and apply for a higher paying job. Increasing the pay of lower paid jobs puts them in a position where they would be stuck working that job longer instead of moving on up to something more challenging and rewarding instead of putting in minimum effort
Minimum Wage is the base hourly amount that employers are permitted to pay their workers. The current Federal minimum wage is $7.25 per hour. There are several exemptions to both federal and state minimum wage laws, including employees who receive tips, students and minors, and several others. Many people think that this is too low of a price. Minimum wage effects the lives of people very much. It should have a reason on why it is being raised. That reason should be based on the cost of living rate
Minimum wages go all the way back to 1938, during the great depression, when the stock market crash and bank loan were failing. Families need income of some type, were they wanted to make it fair were individual could get pay the same without a college degree. I am going to start off with a little about minimum wages history and how this could help our Economic. In 1892 Federal Government adopt an 8 hour workday and other wages standard for employee. In 1903 Congress create the U.S. Department
Should Minimum Wage Be Raised? Minimum wage has always been a controversial issue. Many politicians use the argument of minimum wage for their own political propaganda. Some may argue minimum wage should be raised, while others believe it will have detrimental effects on our economy if it is raised. Surprising to most people, minimum wage earners make up only a small percent of American workers. According to the Bureau of Labor Statistics, minimum wage workers make up about 2.8% of all workers in
to me: Should the minimum wage be raised? I ultimately came to the decision to write about this topic because I knew it had been increasingly in the realm of discussion in the months preceding -- especially due to our most recent 2016 presidential election. Here, I outline my approach to the research paper, some challenges I have faced, and the overall impact the paper has had on myself. The position I decided to take on my topic "Should the minimum wage be raise" is that it should not in
Should the minimum wage increased to $10.10 an hour? This has increased over the years and everyone has their opinions. Those who are in favor of increasing minimum wage to $10.10 believe that more money will decrease poverty and the unemployment rate. Those who oppose the increase in the minimum wage, believe that it should not be increased and should stay the same, because it will cause businesses to close up because they are not making enough money to survive in the economy An increase in minimum
Some think that the minimum wage should not be raised, but others think that the minimum wage should be raised. If one had to be chosen, raising the minimum wage would be better. The minimum wage should be raised because if you were to work full time on minimum wage, you are below the poverty line; Also states that did raise the minimum wage above the federal standard have had more job growth than states that did not. Finally, "Minimum wage workers are much more likely to immediately go out and spend
reliable for everything in the household but only making minimum wage. Do you think you would be able to handle the pressure put on you and provide? Well, there are many single parents out there with children and a lot of those families are living in poverty because of the lack of money reachable to them. With wages being as low as they are it makes it harder on those parents because money just do not grow on trees. The minimum wage should be raised due to the many people in poverty already and not all
Minimum Wage: Raised or Remain the Same? All around there are people who argue about minimum wage. There are people who argue that the rate per hour should be raised. There are also people who argue that the rate per hour should be lowered. There are also people who argue the rate per hour is fine how it is and that it should stay the same. Should the rate really be raised, or should it instead be lowered? Why should the rate be raised, or why should it be lowered? What will happen if we lower the
on the minimum wage in America. Obama insisted that minimum wage should be increased because it would be a means of social justice to many Americans. Many Americans live in poverty and Obama believes that raising the minimum wage would assist some Americans to remove oneself from living in poverty and assist the economy from disintegrating. After hearing Obama’s State of The Union Address of 2013 and reading many articles concerning the raising of minimum wage, I believe minimum wage should be raised
increase in higher minimum wage? While I don’t believe that minimum wage should not be raised, others do. People without college degrees would be making decent money. I don’t think that it is right for someone without a college degree to make more than someone who attended college. If the minimum wage was raised then that would motivate teens to leave school, because they know that they are going to make the same amount of money no matter what. If the minimum wage were to be raised then most businesses
Minimum Wage Must Take The Stage The cost of education is a lot more money today, not only college are expensive also we have these private and catholic school that are charging a fortune to get kids to go to school to just get a better education. In today’s world if your parents are making minimum wage, their children cannot attend school because their parents cannot afford to pay for their education. Paying people the right amount, shows respect and acknowledgement of the value they deserved and
discussion of raising minimum wage to $15 an hour is a very big topic. Some people think it should be raised so they can try to live off of it. Raising minimum wage would help some areas in the U.S., but it will also hurt other areas that are smaller and do not have as high of a price of living. It could very seriously hurt the nation's economy. In some states a raise could help, but raising the federal minimum wage would be a very bad thing. Minimum wage should not be raised to $15.00 dollars an
The shockingly low minimum wage in America is borderline unethical. Since the minimum wage was established in 1938, there’s been controversy about how much it should be. It was originally set at an amount that would allow workers to maintain a minimal standard of living (30 Days). Since then, the minimum wage has been raised 22 times, but this hasn’t been enough to support the same goal. Not only has inflation made minimum wage worth significantly less, but the cost of living has gone up. Two thirds
There is also the problem of the minimum wage, and how it relates to poverty, that has been studied by many researchers. According to the U.S. Census Bureau in 2015, 13.5% of Americans suffer in poverty, and the average annual salary of minimum wage workers is $15,080, which is right below the poverty line for two or more person families (David Cooper 1). This brings us to the question, will raising minimum wage reduce poverty? Raising the federal minimum wage would fail to reduce poverty because
the United States is minimum wage if it should be increased or not. While some want to raise minimum wage to the living wage, minimum wage should not be raised because it increases teen unemployment, increase of Cost of goods/services,and Cut back on work hours. One reason Raising the minimum wage is a bad thing is because it leads to lower unemployment for vulnerable low skilled workers. new academic study, University of Waterloo finds 10 percent increase in the minimum wage leads up to 4 percent