Mcdonalds Should Minimum Wage Be Increased
opinion Essay
292 words
An example of a real-world business decision with government and societal dimensions is McDonald’s recent decision to increase their minimum wage for employees to fifteen dollars an hour. As a result, the government is under pressure to consider increasing the minimum wage across the board. While employees will benefit by having more money in their pockets, if small business owners are forced to pay their workers the same, they may find that they can’t afford to pay this amount without being forced to close as a result. “Some businesses will cut jobs to pay employees more and that would be a reduction of workers across the labor market, it can lead to unemployment, hurt business and raise prices” (Wihbey). On one hand, tax payers would no longer have to pay for low income employee benefits through government programs such as Medicaid, Food Stamps, or other public assistance. On the other hand, the cost of paying for hamburgers will increase. Not only will the price of paying for hamburgers raise, but also the price of items across the board will increase. …show more content…
In this essay, the author
- Explains mcdonald's recent decision to increase their minimum wage for employees to fifteen dollars an hour is an example of a real-world business decision with government and societal dimensions.
- Opines that small business owners may find that they can't afford to pay their workers the same amount without being forced to close as a result.
- Opines that tax payers would no longer have to pay for low-income employee benefits through government programs such as medicaid, food stamps, or other public assistance, while the cost of paying for hamburgers will increase.
- Opines that raising the minimum wage rate is important for some people to better support themselves and reduce their reliance on social programs.
- Opines that raising the minimum wage rate is good for employees to improve their economic well-being and that the economy would adjust gradually.
It would also decrease turnover rate and motivate the workforce which would lead to better customer services and increase a company’s production. The increase of minimum wage the impact would be more direct for franchises and stores. Although, in the long term the profitability and health of franchises are obviously important. I think that raising the minimum wage rate is good for employees to improve their economic well-being and I believe that the economy would adjust gradually. In addition, the tax payers would benefit and government expenses would be
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- Positive And Negative Effects Of Raising Minimum Wageanalytical essayEconomic theory also predicts that an industry wide cost shock, such as minimum wage increases, will be passed on to prices (Lemos, 187). As labor costs rise, employers can either reduce their profit or pass along the costs to the consumer. Since businesses are around to make money, it would be unwise for them to cut into their profit. According to a study conducted by Purdue University, prices at fast food restaurants would increase by an estimated 4.3% (McLure). An increase in labor costs would be met with higher consumer prices because companies would have to offset the upturn in wages. If an employer is forced to pay their workers an additional 10%, the employer will have to raise the price of their goods or services by 10% to recoup the cost. Many small businesses operate on razor thin profit margins and having to pay additional wage costs could mean the end for many of these small
In this essay, the author
- Argues that raising the minimum wage would hurt the economy because it would do little to lower the poverty rate, increase unemployment for less-skilled workers, and result in higher prices for goods and services.
- Explains that raising the minimum wage would have little effect on lowering the poverty level, since most wage earners do not come from poor households.
- Argues that if employers are forced to pay workers more than the work is valued at, they will simply not hire workers at that pay level.
- Explains the negative effect of raising the minimum wage is the cost of goods and services would increase’ otherwise known as inflation. employers can reduce their profit or pass along the costs to the consumer.
- Explains that raising the minimum wage may help some low-wage workers rise above the poverty level, but the overall poverty levels would only slightly decrease because of a hike.
- Argues that raising the minimum wage would provide a living wage, but employers are willing to pay their workers for their production or perceived value of productivity. minimum wage jobs were never meant for professors or doctors.
- Argues that raising the minimum wage would hurt the economy because it would cause an increase in low-skilled unemployment, do very little to lower the poverty level, and increase inflation.
902 wordsRead More - The Minimum Wage Must Be Increasedanalytical essay“Of course, nothing helps families make ends meet like higher wages. … And to everyone in this Congress who still refuses to raise the minimum wage, I say this: If you truly believe you could work full-time and support a family on less than $15,000 a year, go try it. If not, vote to give millions of the hardest-working people in America a raise.”
In this essay, the author
- Opines that raising the minimum wage helps families make ends meet. if you believe you could work full-time and support a family on less than $15,000, go try it.
- Explains that president obama called on congress to raise the national minimum wage from $7.25 to $10.10 an hour.
- Argues that raising minimum wage increases unemployment, especially for unskilled workers, and harms small businesses, including grocery stores and restaurants.
- Explains that the employment rate has improved in years of an increase in minimum wage to account for the depreciation value of the dollar.
- Analyzes how batra proves that an increase in minimum wage, as long as it is not faster than the rise in prices, will not adversely affect the businesses' profits.
- Explains how the mcdonald's franchise owner hires a teenage cook to make ten hamburgers per hour, and their hourly profit from hiring the cook is $3.
- Explains that as long as minimum wage does not increase faster than the rate of inflation, there will not be a decline in the business’s real profit.
- Explains that batra proved that increasing the minimum wage, so long as it does not surpass the rate of inflation, will not harm small businesses nor increase unemployment.
- Analyzes how the economic policy institute's data indicates the real value of the minimum wage, adjusted for inflation, has been declining since its highest point in 1968.
- Analyzes barbara ehrenreich's experiences living paycheck to paycheck, as minimum wage earners do, in her book, nickel and dimed: on (not) getting by in america.
- Explains that the economic policy institute recently reviewed dozens of studies of what constitutes a "living wage" and came up with an average figure of $30,000 per year for one adult and two children, which amounts to $14 an hour.
- Opines that a moderate increase in the federal minimum wage would have little impact on the national economy.
- Opines that a higher minimum wage would stimulate consumption by putting more money in the hands of low-income people who spend their entire paychecks.
- Argues that the minimum wage should be increased in the united states. it does not create unemployment, as many believe, and it helps improve the standard of living for individuals earning minimum wages.
- Analyzes how greenspan's fraud: how two decades of his policies have undermined the global economy.
- Cites chasanov, amy, ehrenreich, barbara, katel, peter, and kale. the value of the minimum wage.
1491 wordsRead More - Summary: Minimum Wage Should Be Increasedanalytical essayI believe that minimum wage should be increased. The positives are many and can help many different people. It even helps corporations out. There is an great improvement in attendance of work, and also morale of workers in areas where minimum wage had been raised. This helps influence the business's productivity as they will be reducing recruiting and training for employees. With an increased body of workers it would increase production and results.
In this essay, the author
- Opines that minimum wage should be increased. the positives are many and can help many different people.
- Argues that low-wage workers spend more time at local business's and rely less on social service agencies for assistance. this leads to an economic benefit for both workers and the business itself.
- Argues that raising minimum wage would benefit poor families, since not everyone is fortunate enough to make it through school or to get a salaried job. an increase won't take effect immediately, but it will relieve pressure off monthly payments.
- Opines that a raise brings both positive and negative outcomes. increased unemployment will motivate people to go looking for more jobs.
512 wordsRead More - Minimum Wage And The United Statesopinion essayRaising the Minimum Wage helps the economy, if people make more money, they will spend more money, which benefits the encounter. Corporations need to take into account the idea that when wage is deducted from an employee, that employee is less willing to work and that can really affect the business. But if the employee is being paid a decent amount that is realistic for them, they are more willing to work for your business and will be a happy worker, which will be beneficial to your business. No one wants their business to have the image of abusing their employee’s. It can harm their business by the public viewing them as a company that doesn 't appreciate their workers. If the employee is being paid a decent amount, it could also lead to the employee willingly staying at your business and being committed to their work ethic.
In this essay, the author
- Opines that raising minimum wage will do a lot more good than bad and will help the people of california.
- Opines that minimum wage workers have a hard time paying for their own necessities, like food, clothing, bills, and on top of that, they have to pay high priced rent. the rent in california is expected to raise another 8% with the upcoming elections in november.
- Narrates how they talked to people as part of the renters rights campaign. they ran into people who are struggling to pay their rent and other things.
- Explains that flat wages are harmful to low-wage workers because their wage will not grow. wage not increasing along with raising wage inequality is the reason for our countries income inequality.
- Argues that big corporations are against raising the minimum wage because they don't want to pay their workers more.
1198 wordsRead More - Increasing Minimum Wageopinion essayMinimum Wage Weather or not to increase minimum wage is currently a hot topic. Some feel that minimum wage should be increased while others say no. Minimum wage is the lowest wage payable to employees. Minimum wage should not be increased because if it is a lot of current minimum wage workers will be forced out of their jobs and could possibly lose everything.
In this essay, the author
- Opines that minimum wage should not be increased because it is the lowest wage payable to employees.
- Argues that if the minimum wage is increased, the job market could be destroyed for those in the lower class and for the unskilled workforce.
- Opines that an increase in the minimum wage is not nessisary for economy growth.
- Opines that raising the minimum wage could have positive side effects. corporate stockholders and owners of capital become increasingly wealthy, while ordinary workers get higher levels of education, work longer hours, and improve their efficiency.
- Opines that raising the minimum wage to $10 per hour would be beneficial to all, since low-wage workers have more money to spend and are less likely to scramble to find higher-paying jobs.
- Opines that an increase in minimum wage could greatly help the economy grow. if things stay the same, it could take ages for things to improve.
- Opines that the federal minimum wage should be raised. dorn, james a., and david cooper.
946 wordsRead More - Pros And Cons Of Raising Minimum Wageexplanatory essayAccording to the Institute for the Study of Labor found that ?a 10 percent increase in the minimum wage would result in a 4 percent increase in food prices and a 0.4 percent increase in prices overall?(ALEC 5). Many businesses, like Sally Beauty Company and El Pollo Loco, have already begun raising their prices in order to compensate for added costs. The law of demand claims when prices of goods and services increase, the demand by consumers for goods and services decrease. Due to businesses creating inflation, consumers will have to pay more for less. The effects of raising minimum wage not only eliminates jobs, but hits everyone by making consumers spend more money to attain the
In this essay, the author
- Explains that minimum wage was introduced in 1938 under the fair labor standards act to establish a standard wage that employers could not decrease and to help alleviate poverty.
- Analyzes how raising minimum wage weakens the economy as a whole. the heritage foundation estimates that if $15 per hour is raised by 2020, it would cost 6.6 million jobs.
- Explains that raising minimum wage on businesses creates the dilemma of being cost efficient and morally right.
- Explains that raising minimum wage is pushing big corporations to a breaking point. walmart is experiencing the effects of their decisions.
- Explains that wendy's makes $120 million a year and has about 37,000 employees. there isn't enough money in its profit to afford pay raises from $7.25 to $15 an hour, making everyone worse in the end.
- Explains that raising minimum wage pushes individuals into a tight corner with high costs and less opportunities for better standard of life.
- Explains that raising minimum wage would hurt the young population who are trying to gain experience in the workforce.
- Explains how raising minimum wage affects consumers and eliminates jobs by making them spend more money to attain the necessities.
- Explains that raising minimum wage could be a step toward closing the gap between rich and poor, thus eliminating income inequality.
- Opines that raising minimum wage short-run promises does not compensate for the long-term results hurting everyone from the cashier at mcdonald?s to large corporations.
2015 wordsRead More - Minimum Wage: Can You Make a Decent Living on It?explanatory essay... that they won’t be exploited for their labor. Raising minimum wage has been bad for small businesses though. It becomes increasingly difficult for a small retail shop or restaurant to hire if the minimum wage is too high. The money that could be reinvested into the business is now going to labor. To cut cost, small business owners might enact lay-offs or hire undocumented workers at a wage lower than the minimum. It’s important to strike a balance between worker’s rights and fairness to the merchants.
In this essay, the author
- Explains that minimum wage has become a major part of the conversation on labor. the base hourly rate has been raised to $7.25 federally and can become as high as $9 in some states.
- Explains that the food industry is helped by newly immigrated or undocumented workers, and students without degrees may be in the workforce at minimum wage.
- Explains that the minimum wage was a result of the progressive era movements.
- Explains that supplemental income or ssi is an alternative to raising the minimum wage. the government would have to intervene to help as costs are rising.
- Opines that raising the minimum wage has been good for migrant workers, but it has also been bad for small businesses, since the money that could be reinvested into the business is now going to labor.
- Explains that minimum wage policy doesn't directly affect budgets, but there are certain side effects to keeping minimum wages too low.
836 wordsRead More - America's Minimum Wage Problemanalytical essayOverall, an increase in the minimum wage could bring many benefits to Americans such as families being able to afford education, healthcare, food, and other necessities without having to choose between resources. The workers incomes are not sufficient to cover a family's needs, so an increase could raise a family's income, create more economic equality, and help consumer spending. The economy could improve if the wages increased because families would not be torn between where their money must be spent. An increase in the minimum wage could create a thriving economy if the wealth was distributed equally to help Americans in need.
In this essay, the author
- Opines that raising the minimum wage would help low-wage workers make higher incomes and overall strengthen the economy, pulling americans out of poverty.
- Analyzes how minimum-wage workers can't afford healthcare and education without making sacrifices. they have to spend 923 hours to cover the $6,695 annual tuition at a public four-year college.
- Explains that under the democratic proposal, an estimated 27.8 million people would earn more money if the minimum wage were to be increased.
- Explains that an increase in the minimum wage is considered to be a successful anti-poverty program and would achieve some economic equality.
- Analyzes how jeremy ashkenas' article "can you live on the minimum wage" illustrates the monthly choices that have to be made when living on $7.25 an hour.
- Explains that the number of low-wage workers in america is high, and many americans rely on food stamps to feed their families.
- Explains that democratic women senators have demanded an increase in the minimum wage, arguing that it could assist the needy. republicans have struggled to build support, especially for women.
- Analyzes how ron unz wrote an article for the new york times arguing that the minimum wage was over $10.50 in current american dollars at the 1968 peak of post-war economic prosperity.
- Opines that an increase in the minimum wage could bring many benefits to americans such as families being able to afford education, healthcare, food, and other necessities without having to choose between resources.
1114 wordsRead More - minimum wageopinion essayRaising the minimum wage would effect and help the economy to grow, If the minimum wage is raised, businesses will be at the pinnacle of their game. The minimum wage employers will have money to spend , and in turn, the...
In this essay, the author
- Explains that the minimum wage is still an open issue and policy makers are still debating on increasing it.
- Argues that the minimum wage should be increased because parents who don't have degrees are struggling to provide their families.
- Opines that raising the minimum wage would help the economy grow, and businesses would be at the pinnacle of their game.
- Explains that minimum wage raises motivate employees and give them a good reason to come to work.
- Explains that the restaurant industry is one of the nation's lowest-wage sectors. the majority of waiters, waitresses, and employees that depend on tip make very low wages.
- Opines that since many states have different set of rules and laws, they also differ from the minimum wage.
676 wordsRead More - Pros And Cons Of The Minimum Wageopinion essayThey may argue that jobs and benefits could be cut and could reduced desire for career advancement, but they are wrong. People get laid off from jobs everyday due to money budgets, lack of professionalism, or illegal actions. Companies do what’s best for their investment regardless, if minimum wage goes up or not. Whether they were to lay off people there will be extra workload divided among the employees left which is more than they are getting paid for. That could lead to the company having to pay their employees more.
In this essay, the author
- Explains the pros and cons of raising the minimum wage. it can benefit many families as living costs have gone up, price for education is rising, and college students are in debt.
- Explains that the cost of education has gone up and private schools and catholic schools are at the expense of some colleges. young adults are responsible for college payments if they want to further their education to make something of themselves.
- Opines that if minimum wage was increased many people would be able to afford education to further their knowledge to move up in the world to receive a better paying job.
- Opines that a raise in pay would help pay for basic expenses and living appliances. this would benefit single parents and others on government- and state-sponsored financial-aid programs.
- Argues that a minimum-wage boost could improve worker morale, which could in turn improve productivity and keep turnover rates down.
- Argues that raising minimum wage will not be beneficial but a disadvantage. people get laid off from jobs everyday due to money budgets, lack of professionalism, or illegal actions.
- Opines that raising minimum wage benefits majority of the population and that's what everyone should be thinking about.
711 wordsRead More