Raising Minimum Wage Research Paper

In other words, many argue that raising the minimum wage would bring those in poverty above the poverty line. However, raising the minimum wage will only cause inflation. In reality, educating the lower economic class is the only way to raise their standard of living and will not cause inflation. Raising minimum wage will also cause companies to hire less employees or even terminate workers to save money. Also, raising the minimum wage is not fair for those who work hard to earn a type of degree and get paid almost the same as those who did not earn a degree in education. Working as a nurse’s aide and getting paid one dollar more than McDonald’s employees is unfair. We have studied to earn a degree when all they did was learn how to make McDonald’s

When the minimum wage is raised, salaried and hourly employees also expect pay raises. They assume that since their minimum wage colleagues receive a pay increase, they should as well. They also expect the original pay differential to remain intact. These concerns from higher level employees do one of two things. They either force companies to raise their wages, or hurt morale and create a poor working environment.

Raising the minimum wage also forced companies to cut back on training, perks, and bonuses. This hurts productivity and causes output to diminish, further reducing profits. Raising the minimum wage directly impacts businesses, their net income, and overall ability to grow. And it goes without saying that when businesses suffer, the economy does as well.

Raising the minimum wage will not solve the poverty problem and will in fact distract our leaders from focusing on solving the issue in substantive, creative, and productive manner. Throwing more money at poor people does not solve their financial problems. Better education and better jobs

A majority of the low economic class can apply for financial aid and scholarships. Financial aid is any grant or scholarship, loan, or paid employment offered to help a student meet his/her college expenses. Such aid is usually provided by various sources such as federal and state agencies, colleges, high schools, foundations, and corporations. For example, Hutchinson Community College offers many scholarships that will help for college, pay your way Applying for one is not difficult, as long as you meet their requirements. Most of their requirements are to have a high GPA, high grades, or earn a high score on your ACT (American College Testing) test. They are going to help with $1,500 for every year, and for the costs of the books, when myself, attends this coming fall. There are also other scholarships that your community may offer. The web also offers millions of scholarships that you could fill out. Every year there are thousands of scholarships not being claimed and that is because most people think they do not have the chance to compete with others but you will only find out if you apply for them. However, the only true way to a higher and more favorable standard of living is education. A higher education for parents will also set a higher standard for their children and will be tremendously effective in how successful the children grow up to be. A child who