Minimum Wage Struggles
Struggle of Finance In the United States of America, there is not a federal minimum wage. Some states have their own minimum wage, but can be very low, for example, Georgia’s minimum wage is only $5.15 an hour. There are also four states that do not require a minimum wage. People are struggling to a day to day basis with putting food on the table for their family. If our country had a required federal minimum wage of $15 an hour, there would be fewer people who will struggle financially. Firstly, just by raising the minimum wage, People can afford to pay for their groceries, rent and other things that are necessary. Having a minimum wage of $15 an hour can decrease the stress of people who worry about paying their bills and for
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Walmart increased their minimum wage to $9 an hour. This caused a decline in earnings by 10%. Walmart’s prediction was that next year the decline would go up to 6%-12% in earnings per share. (Puzder 2015 par. 3) Walmart lost profit because they could not have a wage increase to $9 an hour and raise prices as well. When profits go down, it makes jobs less valuable and can lead to owners getting rid of positions. (Puzder 2015 par. 13) An increase in minimum wage will not be worth the trouble. However, minimum wage should be raised because people need to feel like they have a better job security and with an increase in minimum wage, people can put their financial worries behind. This article only talks about Walmart’s struggle with having a minimum wage increase. One company’s struggle is not a reliable outcome of the whole country having a $15 minimum wage increase. In conclusion, a $15 minimum wage is better for the American citizens because there are too many people who struggle financially. No one should have to wonder if they have enough money to be able to buy food. With a federal minimum wage of $15, all states are equal, there will be no more states with $5.15 an hour as a minimum wage like Wyoming or states not having one at all like Tennessee. An increase in minimum wage to all states can help people out who work more than one job and people who struggle to pay their bills. Lets end the struggle of
Walmart increased their minimum wage to $9 an hour. This caused a decline in earnings by 10%. Walmart’s prediction was that next year the decline would go up to 6%-12% in earnings per share. (Puzder 2015 par. 3) Walmart lost profit because they could not have a wage increase to $9 an hour and raise prices as well. When profits go down, it makes jobs less valuable and can lead to owners getting rid of positions. (Puzder 2015 par. 13) An increase in minimum wage will not be worth the trouble. However, minimum wage should be raised because people need to feel like they have a better job security and with an increase in minimum wage, people can put their financial worries behind. This article only talks about Walmart’s struggle with having a minimum wage increase. One company’s struggle is not a reliable outcome of the whole country having a $15 minimum wage increase. In conclusion, a $15 minimum wage is better for the American citizens because there are too many people who struggle financially. No one should have to wonder if they have enough money to be able to buy food. With a federal minimum wage of $15, all states are equal, there will be no more states with $5.15 an hour as a minimum wage like Wyoming or states not having one at all like Tennessee. An increase in minimum wage to all states can help people out who work more than one job and people who struggle to pay their bills. Lets end the struggle of