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positive effects of raising minimum wage
positive effects of raising minimum wage
positive effects of raising minimum wage

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A family of four is on government welfare, has no health or car insurance, and lives from paycheck to paycheck because both parents make minimum wage. Parents cannot provide for a family because they barely make enough money to pay the bills. According to Driscoll, it is proven that a “family of three all making minimum wage, still falls below the poverty level.” President Obama has proposed raising the minimum wage to $9.00 but no actions have been made on his behalf. So congress needs to raise the minimum wage in order to help the general well being of the people.
Minimum wage is the least amount of money than an employer can pay its workers per hour. For example, the minimum wage in Virginia is $7.25 per hour. Ford points out in his article on raising the minimum wage, “The minimum wage rose to $5.85 in the summer of 2007 and to $6.55 in the summer of 2008 with plans for a final value of $7.25 in the summer of 2009.” However, different states have different minimum wages. For instance, Washington has the highest minimum wage at $9.19 per hour and Georgia has the lowest rate with $5.15 per hour. But according to the National Employment Wage Project, “if the United States would have kept up with inflation over the past 40 years, the minimum wage would be $10.74 an hour.” That is $3.49 more than the minimum wage is now, which would be $7,259.20 more a year (before taxes).
By raising the minimum wage, it would stimulate the economy in many ways. It would “increase the purchasing power of many workers whose wages would also go up” according to the article Raising the minimum wage: Guide to Critical Analysis. Another way that it would help the economy is that it would decrease the amount of people that would need government welfar...
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Jacobs, W.E.Hoagland, Steve. "Counterpoint: Minimum Wages Are Unwarranted Economic Interference." Points Of View: Raising The Minimum Wage (2013): 2. Points of View Reference Center. Web. 8 Nov. 2013.
Jacobs, W.E.Hoagland, Steve. "Counterpoint: Minimum Wages Are Unwarranted Economic Interference." Points Of View: Raising The Minimum Wage (2013): 2. Points of View Reference Center. Web. 8 Nov. 2013.
"Raising The Minimum Wage: Guide To Critical Analysis." Points Of View: Raising The Minimum Wage (2013): 4.Points of View Reference Center. Web. 28 Oct. 2013.
"Rebuilding an Economy That Works for All of Us." Facts. NELP, n.d. Web. 11 Nov. 2013.
Sperling, Gene, and Alan Krueger. "The White House Blog." Raising the Minimum Wage Is Good for the Economy. The White House, 24 July 2013. Web. 28 Oct. 2013.
Many opponents of raising the federal minimum wage argue that it would cause jobs to be lost. Studies show, they have a point. Raising the minimum wage
While some may feel increasing wage will create additional financial issues, others feel that increasing minimum wage will give workers more money. The national minimum wage in the United States is $7.25. Employees and lawmakers feel that increasing the minimum wage to $10.10 will help boost the economy. The increase of minimum wage will bring people out of poverty and will be able to stimulate the economy by buying more items. This will help the nation pay back more debt and bring in more revenue for the country. Besides a positive effect with the nation as a whole, it will help workers financially. For example, by working thirty years with earning only minimum wage, some workers will benefit from increasing minimum wage. They can finally pay off old debts and loans since they will have more money in their pocket. Also, they will be able to pay bills on time and not have to pay a late fee. An increase in minimum wage will allow them to have additional money to buy items they need. Another way increasing minimum will help people is more independence ...
One way raising minimum wage will be beneficial is that it could lift many Americans out of poverty. Raising the minimum wage in Illinois, would help the families of more than 1.1 million workers who work to meet their children’s basic needs and “reduce the adverse effects of poverty on a child’s well-being” (Fiscal Policy Center). Studies have shown that raising the minimum wage would help 1 in 5 Illinois families who are in poverty. By raising the minimum wage in Illinois, it would help workers with families spend money on food, housing, gas, and other needs without going into poverty. Along with puling Americans out of poverty, raising the minimum wage could also stimulate economic growth. Raising the minimum wage, is stimulating economic growth by worsening the income inequality and substantially reducing the employee turnover for the business. Increasing a person’s income would raise their yearly earnings by $3,640 and “Improve the economic security and reduce the economies poverty rate” (Fiscal Policy Center). Low-wage workers spend most of what they earn on their basic needs, which is quickly spent and does not leave the worker with much money left to spend on other needs. This boost in the minimum wage will stimulate the economy and help create opportunities for more people, by hiring more workers to keep up with the
"Bill Gates: Raising Minimum Wage Can Destroy Jobs." The Foundry Conservative Policy News from The Heritage Foundation. N.p., n.d. Web. 14 Mar. 2014.
...and demand, the decaying economy of the United States will stop festering and even begin to heal.
Cooper, David, and Doug Hall. "Raising the Federal Minimum Wage to $10.10 Would Give Working Families, and the Overall Economy, a Much Needed Boost." N.p., 13 Mar. 2013. Web. 01 Dec. 2013.
Many people against raising the minimum wage create arguments such as, “it will cause inflation”, or, “ it will result in job loss.” Not only are these arguments terribly untrue, they also cause a sense of panic towards the majority working-class. Since 1938, the federal minimum wage has been increased 22 times. For more than 75 years, real GDP per capita has consistently increased, even when the wage has been
...the future. Not only will raising the minimum wage provide more money but the workers can supply more food, be able to pay all of their bills and spend more if the wage was raised by at least five dollars. It could also benefit college students that are trying to find a way to pay for their education. Over 88 percent of workers who would benefit are at least 20 years old and in college (Cooper and Hall 2013). On the other hand, increasing the minimum wage can also cause higher rates of unemployment.
Sklar, Holly. "Raising the Minimum Wage Will Help the Poor." Opposing Viewpoints in Context. 2011. Web. 24 Feb. 2014.
Staff, NPR. "Raising Minimum Wage: A Help Or Harm?" NPR. NPR, 8 July 2012. Web. 20 May 2014.
Today the federal minimum wage is $5.15, but should be about $8.50 if Congress had adjusted it for inflation over the past 35 years. While $5.15 may not seen that bad, when factoring in such variables as sky rocketing gas prices, budgets can get pretty tight. David Shepard, a sophomore at Wayne State University, worked at a Meijer Retail and Grocery Superstore for over two years while in high school. At the time Shepard lived with his parents and didn’t have to worry about paying rent or buying groceries, all that he had to pay for was filling up his gas tank and paying for his car insurance. Shepard recalled, “It was all I could do to pay for the basics like gas and bill’s, I barely had any money to have fun on the weekends”. This is only an example of a high school student that can nearly slip by on minimum wage with only a few expenses. There are 1.8 million people in America with children under the age of 18 that would benefit from an increase in minimum wage (Minimum).
"Raising the minimum wage will benefit about 28 million workers across the country. And it will help businesses, too - raising the wage will put more money in people's pockets, which they will pump back into the economy by spending it on goods and services in their communities." -- President Obama
Bernstein, Jared. “Would Raising the Minimum Wage Harm the Economy?” The CQ Researcher 16 Dec. 2005:1069.
Minimum wage has been a topic that has divided our nation for a while now. Some say there should be an increase in the minimum wage while others say the should not be. In my Argument today, I will be in support for the raising of the minimum wage. If the minimum wage is to be increased, it will provide low-income family with money to spend. Furthermore, the more people spend, the better the economy so raising the minimum wage will boost our economy. And finally, raising the minimum wage will reduce the gab between the rich and the poor, which is also an issue in our nation.
A sensitive topic for many Americans is their income. Many people’s income relies on minimum wage. In 2012, 3.6 million people received an hourly pay at or below minimum wage. There is an ongoing debate in government as to what the minimum wage should be. Stuck at $7.25, Obama has suggested raising the minimum wage to $9.00. Depending on a person’s perspective, raising minimum wage could be positive or negative. Minimum wage has the ability to change lives, and change the economy. Small businesses and unemployment, teenage demographics, and the cost of civilian goods would be most affected.The only mystery is whether things would change for the better or for the worse.