Minimum wage seems to always be a topic of discussion. The most current debate is that Ohio raise its minimum wage to $10.10 an hour. In certain parts of Ohio there is even discussion of raising it even higher, to $15.00 an hour. There are many pro/con debates circulating on this particular subject. 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. This concept applies to families too and benefits the economy more depending on how many minimum employees are in that household. According to Sarah Shemkus, “…a recent study by the Federal Reserve Bank of Chicago concluded that, following an increase in the minimum wage, spending by households with at least one minimum-wage worker increased by $700 per quarter.” If minimum wage were to be raised there would be more money moving through the economic system.
Secondly, the increase of minimum wage would also benefit people in a few different ways. If minimum wage was increased it would increase the number of job opportunities. Since people would be earning more money they would be spending it at businesses more often. This would mean that these businesses would need more employees to handle the business they were receiving. Employees would be more likely to be satisfied with their job, because of the salary they would be earning. If minimum wage were to increase a little bit every year...
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...d. Along with these dilemmas, competition for all positions will intensify, which could make it extremely hard to obtain a job. Another argument that has a large hole in it is the argument for equality. The two points they make for this argument are that raising minimum will create equality between the different classes and that it will end up being a raise for all Americans because everyone’s salary will be raised in a domino effect. These points do not agree at all. If it is going to equal benefit everyone then the gaps between the different salaries in the classes are going to stay there. If it is going to shrink the gaps then it cannot be an equal benefit for everyone. The argument for raising the minimum wage is not a sound argument at all and everything can be contradicted. The cons definitely outweigh the pros for these argument, at least for the time being.
"Plain and simple, Congress must act to meet the needs of our constituents. We can do that by strengthening families and increasing the minimum wage."
The United States minimum wage is not indexed to inflation. Due to this fact, the purchasing power of minimum wage falls as the price of consumer goods increases. The current hourly minimum wage is set at $7.25, however many states do pay above this rate. One example of this is in Michigan, the current hourly minimum wage is $7.40. The last time a change occurred to raise minimum wage was in 2009. President Obama has put out a proposal that is designed to raise the federally required hourly minimum wage to $10.10 in 2015. The public opinion of this proposal is all over the board ranging from a positive outlook to a negative one. Some of the negative remarks are that it would dampen the economy and shrink the hiring done by small businesses. “The Household Survival Budget for the average New Jersey family of four is $58,500 and for a single adult is $25,368 in 2010. These numbers highl...
This article gives you a yes and no opinion on whether or not the F...
All in all minimum wage should be increased. Every decisions made by the federal government has its disadvantages. What action doesn’t have its disadvantage? Raising minimum wage benefits majority of the population and that’s what everyone should be thinking about. This has been an argument for years and some states in the United States has raised their minimum wage, all we need is for other states to do the same, so everyone can benefit from it
"When we talk about the kind of folks whose lives will be made better by raising the minimum wage, we're not talking about a couple teenagers earning extra spending money to supplement their allowance. We're talking about providers and breadwinners. Working Americans with bills to pay and mouths to feed."
Over the years the cost of living has been on the rise. Therefore, it is only right for minimum wage to increase as the cost of living increases. Many states and even some individual cities have taken the first steps toward raising the minimum wage. States like Washington and cities like San Francisco have already raised their minimum wage above the federal minimum wage. This is a very good start as it is becoming harder and harder for Americans to start and take care of their families. We need more states and cities to follow their lead some more Americans can feel more financially stable. This will make a better America for us all.
There are indeed risks of raising the minimum wage, but the rewards outweigh those risks, so the minimum wage should be raised. Some people who are against this may say ...“But other economists say raising the minimum wage actually hurts the very people it's designed to help: One of the basic laws of economics is that if you raise the price of something, there will be less demand for it. In this case, if you raise the price of workers, the demand for workers will decline. That could mean companies cutting the hours of employees, laying them off, or hiring fewer workers in the future.”... Yes, it could hurt the people it is designed to help, but different states have done this and found the opposite to be true. With America’s still fragile economy we need a boost, a helping hand; And this could be it. So next time you go down to vote on a mayor or maybe even the next president, remember that raising the minimum wage is a good thing, and you should be supporting
"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
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
Raising the minimum will end up hurting Americans more than helping them. The people that are for raising minimum wage are people who believe that increasing minimum wage can help those people who are unskilled and need an income they can live on. Yet, raising minimum wage would do the opposite and make employers have to fire people who earn minimum wage, because they can't afford the higher wages. People need to realize that increasing the minimum wage would hurt people more than help them. In the end increasing minimum wage would result in some people being let go, for the reason, businesses can't afford paying them minimum wage anymore.
“The minimum wage makes it illegal for workers to have a job paying less than the minimum wage, and it keeps employers from hiring anyone for less than the legal minimum wage even if people are willing to work for less. If the current minimum wage for low-skilled workers is $7.25 per hour, and Congress mandates a minimum wage of $9 per hour, workers who earn less than that will not remain employed or be hired. In the long run, as businesses switch to labor-saving methods of production, more low-skilled jobs will become useless. In anticipation of a $9-per-hour minimum wage, small businesses are already planning to switch to automated equipment, self-service and new software to save money because low skilled workers will have to be paid more. More jobs will be created for skilled workers but will destroy jobs for low-skilled workers. Politicians promise workers $9 per hour, but that promise can not be kept if employers fire or don’t hire workers who low skilled. Most importantly, if low skilled workers lose their jobs or can’t find jobs making minimum wage, their actual income will be zero.” (James A. Dorn). So if minimum wage is increased the job market could be destroyed for those in the lower class and for the unskilled workforce. “Evidence shows that when the minimum wage is increased there will be less jobs and a more unemployment especially in the long run. If a person ...
It is very difficult to live in America if you are living off of minimum wage, and many Americans are living off of it today. Raising minimum wages has its benefits like gaining more money to live better, but people do not see the down side of the increases in wages. With the increase in minimum wage, it also causes the cost of living to increase. How can this help the economy or help people? Minimum wages in America should not be increased because it will cause cost of living to increase, reduce employment, and cause businesses to lose money and workers.
Since its inception, the minimum wage has been a hotbed for debate. If today’s leaders could manage to increase minimum wage, millions of families would benefit.
Nowadays, many employees have to face the crisis of working hard for a very low paying job. They are stuck between two rocks of either choosing to work their blood, sweat and tears into a job to receive little to no pay or living in the streets with no food to feed their kids. For a profound amount of families, they are still in poverty, even though all the family members seems to go to a low paying job. By raising the minimum wage, we can help the family to get out of poverty and reduce the poverty rates. A worker need to make at $15.50 to afford an average one bedroom apartment. Since each state varies, take California for example. In California a worker needs to work 92 hours at $9 an hour to rent a one bedroom apartment. ("Minimum Wage - ProCon.org.")The raise in minimum wage would help students and thus increase school attendance rather than working all day. One of the main reason for school dropout is that families don 't make enough money, so they send their kids to go and work. If we can increase the wage, families would keep kids in school and it would result in a better
In the 2014 State of the Union address, President Obama called on Congress to raise the national minimum wage from $7.25 to $10.10 an hour, and soon after signed an Executive Order to raise the minimum wage to $10.10 for the individuals working on new federal service contracts. An increase in the minimum wage has been a topic of discussion for many years now, and it looks like this year will finally see the first increase of minimum wage in 10 years. Not everyone agrees that there should be an increase, but many states have already raised their minimum wage rates because of the federal government’s inaction. Iowa raised the state’s wage, and it will rise again in 2016. Clearly there are benefits to a higher minimum wage; the current minimum wage in the United States should be raised because it helps the economy by increasing employment, and it is now at the lowest value it has been in more than 50 years, causing hardship for earners of minimum wage.