All in all, there are benefits and crucial, dire consequences that is causing so much controversy over this subject. Raising the minimum wage could cause problems to the poor, or new, small businesses unable to adequately pay their workers. But as Obama discussed, raising it would be the most beneficial to Americans and the United States as a whole because it would keep pace with inflation, and it could eventually have an impact on women and “minorities” who are still trying to seem equal to men within the work spectrum.
Other low-income jobs like teaching would suffer from this. After people quit, there would be more people trying to get these jobs that pay so much for so little work effort. Job loss, people being placed in higher tax brackets, inflation, and greater job competition are all results that would occur if the minimum wage is raised. It would be harder for businesses to expand because of the costs of workers. Taxes would increase for many people.
I have come to the conclusion that, although increasing the minimum wage will have various effects on diverse demographics, increasing the minimum wage will ultimately benefit our nation. How would raising the minimum wage affect employers? On first thought, raising the minimum wage sounds like a no-brainer, but after looking at the situation with a little more depth, you’ll begin to see that it’s not so simple. For one, raising the minimum wage takes a toll on employers/business owners in many ways. One way that can be seen right off the bat, is that employers would have to pay their workers more money.
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.
There is much research being done on whether or not this would benefit employees or harm them. The dispute is in on going issue nationwide, but Ohio is among the few states that are debating such a dramatic increase. There are many good reasons as to why minimum wage should be raised to at least $10.10 if not higher. Raising the minimum wage would be beneficial to the economy. Many argue that the more money someone earns, the more money they will spend.
From 2007 to 2009, the minimum wage increased from $5.15 to $7.25, where is still ... ... middle of paper ... ...ect all Americans, those making minimum wage and those with salaried jobs making above the bare minimum. Even though people are making more money, they will be spending more money on the necessities for life. Raising the minimum wage to the proposed level would be crippling to the American economy. Research shows that it would help many people greatly, but rid many more Americans of a job entirely leaving them no way to support themselves and their families. The same scenario would reoccur just as it did when the minimum wage was raised before: jobs would be lost.
One harmful factor that raising the minimum wage will do is increase unemployment. Many Americans argue that minimum wage will not increase unemployment but will decrease it because it promotes more interest for people to work. However, this may be true but what if people that suddenly were motivated to look for a job cannot find one due to the businesses not accepting employees. These businesses might even decrease the number of employees in their labor thus increasing unemployment. Consequently, many businesses will do this when minimum wage is increased due to increase in expenses by it to keep the business running.
There has been many reasons and issues as to raised the minimum wage that it should be raised. The minimum wage should be raised because increasing the wage, jobs will have better services for those employs cause it helps everyone pay debts, and although some workers may be laid off the taxes would be raising higher and people would have less government help. Federal minimum wage that increase does better for the employment because it will provide better equipments for many employes that are working in the job, not only that but it also gives each employ the best support such as the security help in case if any accidents may happen within the job. which brings the people that are working have a better services that employees need help on either them that have families. As said on the book, How Can The Poor Be Helped (pg.
These shareholders may include hedge funds, retries, and pension funds. Although, the impact of the minimum wage increase may be small, individuals and companies will be impacted by the change. Second, the workers and their families are impacted positively and negative by this change when some workers lose their jobs while other worker’s will get a raise because of the minimum wage increase. The immediate impact of the increase will be a boast in employee moral and a temporary increase in productivity. However, long-term the increase will result in an bigger workload for individual employees because of the decreased workforce and the responsibilities that come with higher wages.