This source has given me more insight to the controversial debate of minimum wage. It made me realized that by increasing minimum wage we would require the middle class to pay less for the lower class standard of living, which would be aiding society. A Con would be how it might cause an unpredictable inflation within the nation, and a repeat of the great depression might occur. Overall, this article haven’t changed my view of minimum wage; it only strengthens my already adamant opinion that minimum wage should increase in the United…
in lemons). Cooper has a very valid point in this statement. By raising the minimum wage, it allows people to function on their own. It allows them to feel secure about their money, more so then they did before. They feel that they have some breathing room in the situation, and don’t have to scramble for money. Yes, raising the minimum wage will not help immediately, but in the long run it will have a lasting effect on the person’s financial situation. Last year my mom received a small raise, and it didn’t really help at first, but later down the road we were able to pay off some things and get ahead. People just need that little bit of security to help them keep going in…
In President Obama’s 2013 State of the Union address, Obama advocated for increasing the federal minimum wage to $9 per hour. The timing of Obama’s speech comes at a time when income inequality has become the biggest economic issue in the United States of America. During the Great Depression, The United States of America designed a minimum wage as part of the Fair Labor Standards Act. Since its inception, the government required minimum wage has grown from 25 cents to $7.25 per hour. Unfortunately, the erosion of consumer buying power has decreased at a compounding rate and in America’s consumerist society the expected standard of living has also gone up with inflation. In response to rising inflation with the Federal minimum wage, states should be allowed to make the decision on price floors such as minimum wage.…
The government redistributes income from business towards low wage workers to reduce inequality by the minimum wage laws. It also provides a boost to low wage workers to look for a job because the minimum wage is higher than the previous salary. Additionally, the increase of minimum wages can light workers’ enthusiasm to improve their productivity. As well, according to the survey, when American minimum wage raised by $7.25 per hour, more than 16 million low-wage workers directly benefit from the increase, and another 8 million slightly skilled workers get relevant benefits. This would increase $31 billion to the paychecks of families ranging from poverty level to the middle class to boost their spending power and add the nation’s economic output and total…
Minimum wage is a topic that is always being discussed and debated over. One reason that this subject is so popular is because everyone who has a job is affected by the result of the wage. Some believe that the minimum should be raise to at least $9, while others strongly believe that the raise in wages will disturb the state of the economy. In the articles I have selected the pros and cons of raising the minimum wage are clearly stated. Some of the texts are editorial articles, and scholarly articles that have to do with the raise in the wage and others options on the subject.…
The earnings of minimum wage workers are crucial to their family’s wellbeing. Raising the minimum wage would help uphold some working families exceed the poverty line by mostly solving the primary problem with current minimum wage rate: it has failed to keep pace with inflation and the rising cost of living. In addition to providing a much-needed boost to low-wage families, increasing the minimum wage would also have other positive economic effects.…
But is this worth all of the economic problems it could cause? First, saying that raising the minimum wage could reduce poverty is just wrong. In some states the standard of living is high than the minimum wage but that does not mean those people are living in poverty. Generally, the people in poverty, do not work.…
Hello Julia, I agree with you. minimum wage should not be raised because there will be high price production, and inflation, which will hurt consumer especially the low-income family. Raising the minimum wage commonly may be seen as a way to give a low-income worker a raise, but it resulted in a surplus since the minimum wage is a price floor. Surplus happens when the quantity of supply is greater than the quantity of demand. In this case, more people are willing to work than employers are willing to hire at the stage of minimum wage price rising and it will result in high unemployment. There would be a high unemployment rate because employers are forced to pay more which likely lead them to hire fewer workers in the workplace, especially for the small business or companies. Fewer people getting hiring mean less work is being done.…
In America, the public majority tends to believe that poor people deserve to be in poverty as they are lazy. In reality, the nation’s poor work full-time, sometimes over fifty hours a week, yet still do not earn enough to escape the depths of poverty. Minimum wage is what these individuals earn, as deemed appropriate from the low skill level of the jobs they work. Often the level of incomes received are not made to be living wages and are found to be product of unreasonable systems. Making a living wage in America is unlike the textbook definitions since there are various standards of living within each state that dictate the level. As a result including, an ever-growing population of consumer workers, deskilled jobs, and irrationality caused from McDonaldization, countless individuals, specifically: the uneducated, Blacks, Latinos, and young adults, fall into a class of “working poor”.…
Many might say that raising minimum wage would increase financial problems. Minimum wage increase would hurt business and force companies to close. Although that may be true, raising minimum wage 10% would reduce the number of people living in poverty 2.4%. Minimum wage can help inflation. Help reduce federal deficit. Raising minimum wage would increase economic activity and spur job growth. As the nation we need minimum wage to pay our bills.…
A new issue that is being debated across the country is raising the minimum wage. Minimum wage is the lowest pay you can legally give to workers. The minimum wage is currently $7.25 an hour. There are some people that think the minimum wage should stay the same. Others think that is too low, and they want to raise it. However, research shows that the current minimum wage is high enough to live a normal life with essential needs. If minimum wage is raised then the effect will be huge. The economy will go down, teens and new workers won’t be able to find jobs, and it will only hurt the people it was meant for.…
Many Americans lose their jobs everyday, because small businesses cannot afford to pay more money and insurance for their employees. When this happens, the owner of the company fires some employees to maintain his company or he closes his company. This is an outcome that happens very often, and it is forcing many owners to fire employees leading to high rates of unemployment all over the country. Bureau of Labor Statistics (BLS) data reveal that during 2013, “states with minimum wages above $7.25 per hour averaged higher unemployment rates and lower net job growth rates than states with minimum wages at $7.25 per hour” (n.pag). While raising the minimum wage would help stimulate the economy due to the increased spending power of workers receiving higher wages, a former CEO [Ed Rensi] of one of the biggest employers in the United States explained that too high of a government-mandated minimum wage would have a deadly effect on employment” (n.pag) And this seems to be only a small part of the problem, According to Ed Rensi, a chief executive officer (CEO) of McDonald’s, “a higher minimum wage would not only kill existing jobs but also result in closing a substantial number of small businesses, from 15-20%. In theory, raising the minimum wage forces business owners to raise the prices of their goods or services, thereby spurring inflation and unemployment” Ed Rensi…
The history of the minimum wage in this country go back almost 100 years to the great depression and FDR. The arguments for and against the minimum wage go back just as far and tend to be emotionally charged. But does this policy, established during the great depression still make sense today? As the economy enters a new, global, era does the minimum wage help or hurt us? Through a review of arguments both for and against the minimum wage, and a review of the research that supports or disproves those arguments this paper hopes to present a balanced non-emotional look at the minimum wage and present a recommendation for how to approach this issue in the future.…
The minimum wage must be raised today because the cost of living has gone up drastically. Education is essential today, and that price tag has increased drastically in the past twenty years as well. People should not have to fight for equal pay for equal work. Companies should be forced to pay their workers what they deserve, and that is more than minimum wage is now. With our new technology and the technology in the future work is harder and more complicated. A minimum wage increase would raise the wages of many workers and increase benefits to those disadvantaged workers.…
There has been a lot of discussion regarding the increase of minimum wage across the nation. Currently, the wage is set at a low amount of $7.25 an hour. In today’s society it is almost impossible to live on only an income of $7.25 an hour especially for those who are raising a family. In President Obama’s 2013 State of the Union Address, the president proposed to raise the minimum wage to 9 dollars by the year 2015 (Luhby). A higher minimum wage would help people living in poverty by providing better means of financial stability, and it would also improve the chances of those people trying to escape poverty stricken living conditions. Another bonus to increasing the minimum wage is that it could potentially…