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Positive effects of increasing the minimum wage
Positive effects of increasing the minimum wage
Why you shouldn't raise minimum wage essay
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Minimum Wage: Raised or Remain the Same?
All around there are people who argue about minimum wage. There are people who argue that the rate per hour should be raised. There are also people who argue that the rate per hour should be lowered. There are also people who argue the rate per hour is fine how it is and that it should stay the same. Should the rate really be raised, or should it instead be lowered? Why should the rate be raised, or why should it be lowered? What will happen if we lower the rate of minimum wage or what will happen if we raise the rate of minimum wage? What are minimum wage jobs anyway, or what is minimum wage? Minimum wage is the lowest amount of money per hour that an employer can pay their employees. In the United States, the federal rate of minimum wage is $7.25 an hour. Since this specific rate was set for every state in the United States, several of the states have raised their rate of minimum wage. Ohio is one of those several states to have changed their rate of minimum wage. At the moment, in the year 2015, the rate of minimum wage is $8.10 an hour. If the rate in Ohio is already above federal rate, why should it need to be changed anymore? The rate of minimum wage should not be raised; it should instead stay at the same rate. These jobs are not professional jobs, they are only starter jobs, if the rate of minimum wage is raised it will hurt people while trying to help others, also if the rate is raised above $8.10 an hour the surrounding states will be affected.
Why does the rate of minimum wage jobs continue to go up? The jobs that pay minimum wage are no other than starter jobs (“Higher Minimum Wages” 1). The majority of the workers who have minimum wage jobs are no other than high school and c...
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...everyone would benefit from the rate being raised. Some people would lose their jobs, findings a job would be harder for other people, and if became came across state lines to work it would drop neighboring states employment rates. All in all, raising minimum wage would help people, but it would also be hurting others. Therefore the rate of minimum wage should stay the same as it is now. If the rate were to be lowered people working those jobs would be hurt by the loss in money they would be making. If the rate were to be raised people would also be hurting. So if the rate stays the same, everything is already worked out and nobody would be hurting from anything. Again the rate minimum wage should not be raised. It could still be $3.25 an hour but as a state Ohio’s rate has come a long ways since then. So why is there even a need to raise the rate of minimum wage?
Many people against raising the minimum wage create arguments such as, “it will cause inflation”, or, “ it will result in job loss.” Not only are these arguments terribly untrue, they also cause a sense of panic towards the majority working-class. Since 1938, the federal minimum wage has been increased 22 times. For more than 75 years, real GDP per capita has consistently increased, even when the wage has been
The United States minimum wage is not indexed to inflation. Due to this fact, the purchasing power of minimum wage falls as the price of consumer goods increases. The current hourly minimum wage is set at $7.25, however many states do pay above this rate. One example of this is in Michigan, the current hourly minimum wage is $7.40. The last time a change occurred to raise minimum wage was in 2009. President Obama has put out a proposal that is designed to raise the federally required hourly minimum wage to $10.10 in 2015. The public opinion of this proposal is all over the board ranging from a positive outlook to a negative one. Some of the negative remarks are that it would dampen the economy and shrink the hiring done by small businesses. “The Household Survival Budget for the average New Jersey family of four is $58,500 and for a single adult is $25,368 in 2010. These numbers highl...
“Minimum wage increases often lead to employers replacing disadvantaged adults who need a job with suburban teenagers who do not.” says James Sherk. Currently, minimum wage earners are seven times more likely to be teenagaers instead of adults. In fact, half of the 3.8 million people employed in minimum wage jobs are under the age of twenty-five (Furchtgott-Roth). Many people use minimum wage jobs as a ...
Currently, in the United States, the federal minimum wage has been $7.25 for the past six years; however, in 1938 when it first became a law, it was only $0.25. In the United States the federal minimum wage has been raised 22 times since 1938 by a significant amount due to changes in the economy. Minimum wage was created to help America in poverty and consumer power purchasing, but studies have shown that minimum wage increases do not reduce poverty. By increasing the minimum wage, it “will lift some families out of poverty, while other low-skilled workers may lose their jobs, which reduces their income and drops their families into poverty” (Wilson 4). When increasing minimum wage low-skilled, workers living in poor families,
"Plain and simple, Congress must act to meet the needs of our constituents. We can do that by strengthening families and increasing the minimum wage."
"When we talk about the kind of folks whose lives will be made better by raising the minimum wage, we're not talking about a couple teenagers earning extra spending money to supplement their allowance. We're talking about providers and breadwinners. Working Americans with bills to pay and mouths to feed."
All in all minimum wage should be increased. Every decisions made by the federal government has its disadvantages. What action doesn’t have its disadvantage? Raising minimum wage benefits majority of the population and that’s what everyone should be thinking about. This has been an argument for years and some states in the United States has raised their minimum wage, all we need is for other states to do the same, so everyone can benefit from it
Minimum wage is a difficult number to decide on because it affects different income earning citizens in different ways. According to Principles of Microeconomics, by N. Gregory Mankiw, minimum wage is a law that establishes the lowest price for labor that and employer may pay (Mankiw 6-1b). Currently, the minimum wage in the United States is $7.25 per hour. For many years politicians and citizens have argued on what should be the minimum wage that would benefit the economy and society in general. A minimum wage was first established in 1938 to increase the standard of living of lower class workers. To discuss what is better for the country and its citizens, people have to understand what is a minimum wage and what are its effects.
Many opponents of raising the federal minimum wage argue that it would cause jobs to be lost. Studies show, they have a point. Raising the minimum wage
Barrack Obama’s State of The Union Address of 2013 caused a controversy that is still a relevant debate topic. Live from the United States Capitol, Obama clarified his perception on the minimum wage in America. Obama insisted that minimum wage should be increased because it would be a means of social justice to many Americans. Many Americans live in poverty and Obama believes that raising the minimum wage would assist some Americans to remove oneself from living in poverty and assist the economy from disintegrating. After hearing Obama’s State of The Union Address of 2013 and reading many articles concerning the raising of minimum wage, I believe minimum wage should be raised because it would decrease poverty, keep individuals from under the table jobs, and cause a decrease in taxes.
Raising the minimum will end up hurting Americans more than helping them. The people that are for raising minimum wage are people who believe that increasing minimum wage can help those people who are unskilled and need an income they can live on. Yet, raising minimum wage would do the opposite and make employers have to fire people who earn minimum wage, because they can't afford the higher wages. People need to realize that increasing the minimum wage would hurt people more than help them. In the end increasing minimum wage would result in some people being let go, for the reason, businesses can't afford paying them minimum wage anymore.
Since the cost of living has gone up drastically, raising the minimum wage is the right thing to do to boost the economy, lift workers morale and productivity, and improve the self sufficiency of potentially millions of American workers. Raising the minimum wage is a vital step in decreasing poverty and giving every family the opportunity to survive and succeed. Even businesses agree raising the minimum wage would give many customers more money to spend in turn increasing sales and higher profits for the companies. Therefore, raising the minimum wage would help and not hurt the economy and it would give many Americans a better livelihood and a more secured life. In today’s society it is very expensive to live in American and even getting by daily is difficult if you are living on minimum wage. Therefore, anyone who thinks the minimum wage should not be raised should try living in
Since its inception, the minimum wage has been a hotbed for debate. If today’s leaders could manage to increase minimum wage, millions of families would benefit.
"Raising the minimum wage will benefit about 28 million workers across the country. And it will help businesses, too - raising the wage will put more money in people's pockets, which they will pump back into the economy by spending it on goods and services in their communities." -- President Obama
In the 2014 State of the Union address, President Obama called on Congress to raise the national minimum wage from $7.25 to $10.10 an hour, and soon after signed an Executive Order to raise the minimum wage to $10.10 for the individuals working on new federal service contracts. An increase in the minimum wage has been a topic of discussion for many years now, and it looks like this year will finally see the first increase of minimum wage in 10 years. Not everyone agrees that there should be an increase, but many states have already raised their minimum wage rates because of the federal government’s inaction. Iowa raised the state’s wage, and it will rise again in 2016. Clearly there are benefits to a higher minimum wage; the current minimum wage in the United States should be raised because it helps the economy by increasing employment, and it is now at the lowest value it has been in more than 50 years, causing hardship for earners of minimum wage.