The second fallacy that was enlightening was how minimum wage works. In this crazy year before the next presidential election, minimum wage has become a hot button issue. The problem with politics is that no one ever explains the economics of minimum wage. They just throw out policy ideas without actually informing the voting public on how they came to a conclusion. After learning about supply and demand of work force, it finally cleared up all the misinformation that I have heard. The greatest thing is that all the current candidates have not purposed a solution that was equal to what would actually solve the minimum wage issue. We learned that minimum wage is a government policy the artificially keeps wages higher than the market equilibrium…
For my Capstone Essay, I decided to talk about the topic of whether or not minimum wage should increase. Because this is such a largely debated issue, I thought this would be an interesting topic to learn about. Originally I thought it would be easy to find information because of this. Despite minimum wage being a popular issue, I had a hard time finding any relevant or useful information. While I wanted to use primarily statistical research for my Capstone Essay, this problem influenced me to use the little bit of experience I have had. Even though it seemed like a problem originally, I am happy that the conflict led to practiced used in previous essays.…
Thank you for responding to my letter about raising the minimum wage for minors. I understand that raising the minimum wage would increase its effect on local business owners. It would also increase the worker’s pay which would increase the worker’s spending as well. I am just asking for some equality for all ages, why should someone who does the same amount of work get paid less than someone else. Lower class jobs can be easily done by minors due to the lack of experience needed for those jobs. I often look at both sides of the story, in fact, it’s what I do best. Thank you again for writing me back and I hope to hear another response soon.…
Minimum wage legislation is a widely used policy tool put in place to increase wages of low-skilled workers. A minimum wage is usually the legal minimum wage(hourly, daily or monthly) that an employer can pay to employees. While many argue the numerous rationales of implementing a minimum wage, others find that the implementation of minimum wage can bring about harm. Among others, some benefits of minimum wage legislation include: protection of workers from exploitation by employers/firms, reducing inequality in the workforce, reducing poverty by increasing the standard of living of workers, and boosting employee’s performance in the workforce. On the other hand, those who argue against minimum wage legislation say it leads to unemployment and brings about unnecessary hardships(for example, the reduction of fringe benefits like inexpensive insurance, paid vacation, on-the-job training and other medical benefits) to the employees it was meant to help.…
Approximately 6.2 percent of the state population is hourly workers, compared to the national average of 4.3 percent (Fayola, 2015). Nearly 112,000 of these workers earn minimum wages (Chu, 2014). Women and minorities are most likely to be employed in low-wage jobs, as women account for over half of minimum wage earners (The Leadership Conference, 2001; Chu 2014). Contrary to popular belief, the majority of low-wage workers are over the age of 20 years and do not work in the retail industry (Northern Virginia Affordable Housing Alliance, 2014). Additionally, 46 percent have at least some college education (NVAHA, 2014). Diverse subgroups of workers are affected and experience an array of problems as a result of the present mandated…
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.…
Minimum wage had been a huge problem in today's world. It affecting about 1.3 millions people a year and continues to grow. People been trying to raise minimum wage forever. Minimum wage is affecting the lower and middle class the most. Some people don't notice what's really happening because they're blinded to how much they really should be making. Inflation also has to do with minimum wage. We think we get paid more, but in reality we don’t. Raising minimum wage also means prices for good go up as well. Basically we still at the same place we started. That's how they get us, by making us think we are making more and were not.…
Throughout the years minimum wage has been raised. The more it is raised, means all of the essential things of life will increase in price. Furthermore people will be fired and the unskilled people will be especially hurt. The minimum wage should not be raised based on the observation of what has happened in the past and what might happen in the future.…
Wouldn’t you like to have some more money for your time? The “effective” minimum wage is lower than it was when Reagan was president. While some believe that raising the minimum wage will not help those below the poverty line who do not currently have jobs, raising the minimum wage is a good idea because if you account for inflation, then the purchasing power of the minimum wage is 20% lower than when Ronald Reagan was president, and the men and women today do not want a handout but just a fair day’s pay.…
Teens should have a higher minimum wage because it can help in preparing them for different situations in the future and learn how to use money…
The extra money could help pay off bills or provide food for individuals and/or families. Families living off minimum wage have daily choices that are hard to choose, like spend money on food that week, or pay the electric bill. Locations like Los Angeles, New York state, and Washington, D.C. have already started on raising the minimum wage to fifth-teen dollars an hour(5 facts about the minimum wage). When the idea of raising the minimum wage comes up, many argue that it would only benefit teens, but in fact eighty-nine percent of the minimum wage workers are between the ages of twenty or older(Minimum Wage Myth…
“I don't think that it is a terribly radical idea to say that in America, if somebody works 40 hours a week that person should not be living in poverty,” Bernie Sanders passionately exclaims in one of his campaign rallies. Unfortunately, the reality is many Americans do work full time and do not have a home to return to after working tirelessly to support themselves. It is an important duty of the American people to help bring these workers to justice and to give them the fair payment they deserve. Legislatures of America frequently debate on whether the minimum wage should be raised from the current $7.25 per hour or stay the same. Although some people argue raising the minimum wage will cause layoffs in low skilled workers, in actuality evidence suggests workers will most likely keep their jobs with very few exceptions. The federal minimum wage must be raised in…
More than half the teenagers now and days just have their minds put into money to either afford what they want or help out their parents. Jill Padgett, community school coordinator, from “The Des Moines Register”, states, “We have students who are working to support themselves, students who are working to support their families, and then we have students who are just looking for experience,”. These are the teenagers who see the benefit of a task that needs to be implied, they see how important it is to get paid more than the minimum wage in order to be able to help out and still have money. The “Des Moines” says, “The convenience store chain this year raised its starting pay for part-time clerks to $10 per hour. Bonuses kick in after six months. Which means that even a noteable higher minimum wage would have little effect. Mercer from “Des Moines” said, “I assisted 200 to 250 students this spring, and about 50 percent were trying to pay for daily necessities.…
He mentions that “as many as two-thirds America’s high school juniors and seniors now hold down part-time paying jobs, according to studies.” He gives many reasons as to why it would effect their education. Students with part-time jobs often work long hours and Etzioni adds in that “in fact, these jobs undermine school attendance and involvement, impart few skills that will be useful later in life, and simultaneously skew the values of teen-agers-especially their ideas about the worth of a dollar.” The author continues on and says most of these fast food chains are “far from providing opportunities from entrepreneurship (the lemonade stand) or self-discipline, self-supervision, and self-scheduling (the paper route), most teen jobs these days are highly structured-what social scientists call “highly routinized.” Learning how to operate a cash register or food preparation machine won’t be a skill that can furthermore with you in life. Students quite often choose work over school because of the reward of getting money than staying in school and receiving nothing. He also points out that students who have part-time job do not get high quality jobs after they graduate compared to the students who did not work. In conclusion, Etzioni suggests that parents should take another look at teen employment and encourages teens to go…
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…