There is much debate on whether or not the minimum wage should be increased. The benefits of gradually raising the minimum wage would outweigh the detriments because it will benefit everyone: the poor, middle class, and even the wealthy. At the rate that the minimum wage has been increasing, it has not kept up with inflation, which has led to the middle class deteriorating. People working 40 plus hours deserve a fair living wage but with minimum wage currently at $10, that makes it nearly impossible. If the minimum wage raises it will encourage more people to work harder, make college more affordable, and it will take people out of poverty.
“Today, in this fragile economy recovering from the recession, to raise the minimum wage would not create jobs but destroy jobs and increase the prices of goods and purchasing power of the people who you’d like to be helping, the disadvantaged” (Frist). Minimum wage is the lowest amount of money that can be distributed from a company to an employee from an act of labor. The purpose of minimum wage is to stabilize the economy and allow all workers to have the same minimum salary to live off of. Minimum wage can balance prices, reduce taxes, and makes it easier for unskilled and young employers to get a job. Although raising minimum wage will decrease the poverty rate, it will not be beneficial to the economy because buisness prices will increase;
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 that extra money in the economy," says Heidi Shierholz of the Economic Policy Institute, which favors raising the minimum. "That's because they're often living paycheck to paycheck."
Minimum wage in my opinion should be increase in some jobs. With the economy still suffering for years since the middle of 2000s, I think raising minimum wage could solve some of the issues in jobs that are paying less than what people expect it such as teaching, retail and faculties. First of all is the living wages. Most people can’t afford to take care of their hygiene everyday as they go out to places like meeting or a get together in a party. Bills has been raised to the point that some with minimum wage issue in their job, can’t be able to pay on time with bills like phone, utilities, water and lights; Not only that, but people can’t afford foods in the super market. Leaving them to stick with the lower budget foods like low-tier foods:
Although many Americans believe an increase in the minimum wage is always a positive step for the federal government to take, the most recent wage hike could result in some harmful effects.
Minimum Wage: Should it be Increased?
The controversy remains today about whether the federal U.S. minimum wage should be increased. Currently, the United States minimum wage rate is $7.25. Some argue that it should be raised on account of it not currently being an adequate living salary, which is what minimum wage was created for.
Should we increase the federal minimum wage? This shouldn’t even be a question at such a low economic point in our country. A country can collapse from its base, and in this case, its base is poverty. Some argue to increase minimum wage because it lessens the income inequality and it would help people out of poverty, while others argue that this increase would reduce many job openings and lead to an increase in the cost of common goods. Some may say that increasing minimum wage won’t help lessen poverty but the truth is what else will? With the inflation rising from 2009 until now it would only make sense that the minimum wage rate follows the inflation rate, but it hasn’t. People on minimum wage can barely make a living and those people aren’t able to advance in making a better life for themselves. The United States of America is supposed to be the “Land of Opportunity” so shouldn’t that mean that the poor should have the opportunity to have a better life and that will never be accomplished making $7.25 an hour. Minimum wage should be
Should the minimum wage increase? Well, raising minimum wage both has the pros and cons. Still the fact that increasing the minimum wage nationwide would increase millions of workers’ earnings is deniable. I suppose that’s why some people advocates raising the minimum wage will grow the economy for everyone. In 2014, the president of the United States, Obama, called the current Congress to raise the national minimum wage, which proves that Obama is actually supports raising the minimum wage. ‘February 2014 Congressional Budget Office Report The Effects of a Minimum-Wage Increase on Employment and Family Income is the latest attempt to do so, in this response to Members of Congress with respect to an increase in the federal minimum wage from $7.25 to $10.10 per
Raising the minimum wage is a topic that has been on the tongues of Americans since a minimum wage has existed, but the real question is should the minimum wage be raised? In my opinion the answer is no. Raising the minimum wage would cause companies that have to deal with the hike in minimum wage to cut cost somewhere, which would more than likely be terminating employees. This would also most likely cause a raise in the prices of everyday products due to the influx of money in circulation. Also there would be a lack of motivation to improve one’s financial standing if they don’t have to work hard to make good money.
Over the years, people have argued that minimum wage should be raised and now actions are being taken to try to get minimum wage raised to $10.10 by 2017. This may seem like a good idea but when you dig into the details, there are more consequences to raising minimum wage than there are benefits. The majority of people who are making minimum wage aren’t considering anything except for the fact that they’ll make more money but higher minimum wage goes far beyond just making more money.