Minimum Wage

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Recommended: Economic benefits of raising the minimum wage

"Americans overwhelmingly agree that no one who works full time should ever have to raise a family in poverty... so join the rest of the country. say yes. give America a raise" (President Barack Obama 2014). This quote depicts that not a single human being that works hard at their job should ever have to be poor. This idea among many was part of President Barack Obama's state of the Union Address for 2014, promoting while seeking, a year of change to all American citizens. As a citizen of the United States, one knows the economic hardships and unemployment rates increasing. There needs to be a stop to these inclines, especially towards the poor and those becoming more educated with college. This is why I, for one agree with President Obama on raising the minimum wage to $10.10 an hour. Raising the minimum wage slightly from $8.25 to $10.10 (only $1.85 increase) will have a huge impact on Americans today and even future Americans. Increasing the minimum wage to $10.10 an hour will aid millions researchers say, through the economic values of food prices, small businesses unemployment rates, college students coping with college debt, and the poor living in a state of poverty. To begin, the ideas of small businesses and unemployment rates walk hand especially for the owners themselves when deciding to hire or fire their workers. Many economists believe that increasing the minimum wage will be able to reduce the percentage of unemployment rates slightly, which here in America is a big deal. One researcher, Paul Krugman a Keynesian economist states, "There just isnt any evidence that raising the minimum wage....would reduce employment. And this is actually the solid result, because there have been a lot of studies." Krugman displa... ... middle of paper ... ...bama stated in his 2014 state of the union address, 2014 is a year promoting change. In addition, the new minimum wage would allow the poor to gain jobs making more money to provide for their families financially. Small businesses will not have to let anyone go because in the long run financial inabilities will become obsolete and business will be making more money not losing. All in all, raising the minimum wage to $10.10 contains many positive benefits including aiding with unemployment rates, raising food prices pennies to help the economy, and financial benefits towards students seeking a higher education at Universities. The next step is to wait out the process as the new bill has already been passed with 87 votes in the House of Representatives. In America it is essential for no one to live in poverty or not receive the higher education that they dreamed of.

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