Minimum wage should be calculated by the amount of people in that person’s household‚ and everyoneś income. Minimum wage isn´t something you can live off of for years‚ it´s mostly for teens to young adults to live off minimum wage because it gives them a little money to take care of themselves while able to get something on the side if they wanted to. Minimum wage is $10.00 per hour in California and if you work 8 hours a day‚ that´s enough to get by in this environment if youŕe single and living
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Advantages of Minimum Wage • Reduce the income gap between poor and rich Minimum wage helps to close the income gap between the rich and poor. Although the society still has a significant difference‚ the minimum wage at least puts a floor in the gap so it does not develop wider. Narrowing this gap is important to maintaining a population with equal freedoms. In the short term‚ minimum wage is not effective to reduce the income gap between poor and rich. But in the long term
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Part One When the minimum wage is increased‚ there comes an assumption that there will be a negative impact on employment. Despite this expectation of unemployment‚ historical trends have shown that no such rise in unemployment exists overall‚ but can be found with specific groups. Workers are now easily replaced by technology in low skill fields and businesses have the option of switching over to machines for the same tasks. While an increase in minimum wage has little impact overall‚ youth employment
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Minimum wage has helped shape our economy and nation as it is today. In the United States‚ we have two different types of minimum wage‚ federal and state. But what is minimum wage? “Minimum wage is the lowest hourly rate at which most employers may legally pay their workers” (“Federal Minimum Wage”). The federal minimum wage is the government’s minimum wage‚ but each state also has their own minimum wage. “The first federal minimum wage was legislated to boost wages to ease the hardship of workers
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realize that it’s just the minimum pay. This is just one of many working class citizen’s stories right now living in the United States‚ with job cuts people citizens are willing to take whatever jobs are available‚ to sustain a suitable life style for them. Today I am going to talk to your briefly about the history of minimum wage‚ why it should be increased‚ how it can help the economy ‚ the benefits of increasing minimum wage‚ what states have recently increased minimum wage‚ how the government is
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about Ms. Criswell she works full time‚ with no benefits‚ and she hasn’t had a raise in three years. After taxes‚ she brings home $1‚030 a month – enough‚ if she’s careful‚ to meet her expenses‚ with little wiggle room. “What I feel‚" she says‚ "is anxiety. I felt it just this morning. It’s constantly in the back of my mind: ’Am I going to have enough to pay the bills?’” She grows what food she can and buys items that can be stretched out to multiple meals. To live with the concern of whether or
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The Business of the Minimum Wage • Quantity demanded of employees decreases when quantity supplied of potential employees increases‚ as minimum wage increases from $7.25 to $10.10. • The green dot shows original equilibrium‚ when minimum wage was at $7.25. Raising Minimum Wage: WHO GAINS WHO LOSES •Government receives higher income tax due to increase in wages. •Low income families are likely to receive more positive impact from new increase wages. •Potential workers may face potentially unemployment
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If the minimum wage increases‚ it doesn’t necessarily mean that the economy will get better or our standards of living will be better. If wages go up‚ then the cost of living will also increase. Some statistics have proven why the rise of the minimum wage will cause more issues. As the minimum wage increases‚ the unemployment rate will increase. As well‚ there is an enormous potential of causing small business to collapse due to higher salaries and the inability to afford them. Machines would replace
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“With a high wage maybe I’d be able to move out of my father’s house. Maybe I could get off food stamps. Maybe I could start giving back to the economy‚” says Tenesha Hueston in “Working Poor in America” a report by Oxfam America. Hueston is a single mother of 4 and works at a fast food restaurant as a manager. However‚ she is only gaining $7.75 an hour. It’s embarrassingly sad how America does nothing to make minimum wage workers ascend with the cost of living. Therefore no upward mobility is being
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Since its inception‚ minimum wage legislation has been a highly debated topic with controversy surrounding its true effect on the economy. While some economists state that firms can afford to pay a higher minimum wage‚ others argue that a higher minimum wage is detrimental to employees and firms‚ especially small ones. This is because it will result in lower total revenue for the firms eventually causing them to go out of business or it will increase unemployment because firms lay off employees
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