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Impact of raising the minimum wage
Impact of raising the minimum wage
Effects of higher minimum wage
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Raise The Minimum Wage How can hard working Americans live better lives in the United States? Wanting to earn a decent pay can lead Americans to work two or three jobs to make ends meet. If the United States were to raise the minimum wage, then millions of Americans would not be living at or below the poverty line. I researched this topic because I have worked in the industry making minimum wage and only getting less than part-time hours at my first job. At the time, I stayed with my parents and found it difficult to afford items that were everyday necessities. I felt as if I could not survive on my own making minimum wage, receiving less than full-time hours, consequently, I would need two jobs. I presumed that the minimum wage rose each time the cost of living went up. I contemplated the minimum wage would be at a rate that people could live off. I also thought that everywhere in the United States should have mandatory laws in place to raise the minimum wage in order to get struggling Americans out of poverty. …show more content…
In gathering all of my research I have found an abundance of information.
One, higher minimum wage will boost the economy in the United States. Working Americans are kept out of poverty, they can pay for better housing, and buy health insurance. Moreover, they can have healthier eating and exercise habits, all of which cut down on illnesses. It has been proven that the minimum wage being raised does better for the country, therefore, mandatory laws should enforce raising the minimum wage. Supporters of the measure believe that the bill should apply to all classes of Americans working in every field. I have used many sources that include newspaper articles, journal articles, as well as web articles to conclude my
paper. To say the least, there should be a mandatory law to raise the minimum wage in the U.S. In a country where the cost of living is constantly climbing, the minimum wage must also retain pace. Higher wages are not only lowering the poverty rate, but it is producing more job offerings, while lowering the unemployment rate. In writing this paper, none of my ideas or beliefs have changed in any way, nevertheless, they have grown stronger.
Imagine a world where you are working overtime, seven days a week, yet your kids are starving. You can’t get the education you need because you don’t have the time and money to afford it, and you can’t change jobs because this is the only one you can get. Unfortunately, this is the reality for millions of Americans living today. The federal minimum wage is too low to help families, and actually mathematically speaking, too low to survive on. The quality of life for minimum wage families is terribly low, and that is unacceptable. As humans, we should be looking after others and helping the poverty come out of their continuous cycle. Raising the minimum wage would not only help families be able to afford a better quality of life, but help them to afford healthy food, get an adequate education, and invest in the necessary health care they need.
Minimum wage is a topic that has been popping up since the 1980s. From whether we should lower it, or even raise it, but now in the 2000s minimum wage has been the center of attention more than ever. There are two sides to this topic of minimum wage; whether it creates more jobs or does not create jobs. Those who argue that raising minimum wage will create more jobs will have a rebuttal which is that it does not only cause the loss of jobs but that it would make things much worse and vice versa for those arguing raising minimum wage will cause loss of jobs. There will be two authors representing opposite views, Nicholas Johnson supporting minimum wage will not cost jobs with his article “ Evidence Shows Raising Minimum Wage Hasn’t Cost Jobs”
...the national minimum wage have not been followed by increased employment. Looking even closer, Congress raised the minimum wage in 2009 by just over ten percent. This was followed by the loss of over 600,000 jobs for people age sixteen thru nineteen. The rates of low employment for this age group remain extremely low. Similar statistics were recorded for all age groups as relatively unskilled workers of all age groups receive the minimum wage. An argument in favor of minimum wage is that it is a stimulus that introduces new income and spending into the market. But was there more income to spend in 2009 when nearly 600,000 jobs were lost? Common sense says that every dollar a minimum wage worker receives must have come out of somebody else’s pocket, either small business owners or their customers. The money for a higher minimum wage does not come from thin air.
"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."
Minimum wages go all the way back to 1938, during the great depression, when the stock market crash and bank loan were failing. Families need income of some type, were they wanted to make it fair were individual could get pay the same without a college degree. I am going to start off with a little about minimum wages history and how this could help our Economic.
The federal minimum wage has been an ongoing debated topic since first established in America. Within the federal minimum wage bill, there are many different aspects, or sides, to look upon when arguing about the amount. Economic activity is negatively affected by the increase in minimum wage. One aspect afflicted within economic activity is poverty rate. The poverty rate is affected by the minimum wage through the welfare spending either increasing or decreasing or the unemployment levels rising or falling. Other sides of economic activity that a minimum wage increase would affect is the poor, the crime rate, and employee affiliations.
It is very difficult to live in America if you are living off of minimum wage, and many Americans are living off of it today. Raising minimum wages has its benefits like gaining more money to live better, but people do not see the down side of the increases in wages. With the increase in minimum wage, it also causes the cost of living to increase. How can this help the economy or help people? Minimum wages in America should not be increased because it will cause cost of living to increase, reduce employment, and cause businesses to lose money and workers.
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.
On an average, a worker must make $18.92 per hour to afford a two-bedroom apartment in most places in the United States today (Network, Jolie Lee/USA Today). Additionally, most of the workers have to balance multiple job schedules, travel, and struggle to keep up their life going. In fact, according to the most recent available numbers from the U.S. Bureau of Labor Statistics, (2010 Census) in December of 2011 more than 7 million people were holding 2 or more jobs. “In this world, nothing can be said to be certain, except death and taxes.” Benjamin Franklin (1789). In brief, people work and dies to pay the circle of education, work and taxes. The increase in minimum wage will indeed decrease a huge stone of stress of working enormous hours. The federal poverty line guideline for a family of four is 24,250 according to 2015 census. (Obamacarefact). Accordingly, a person will have to work 50 hours a week in order to fulfill the guideline. Whereby, $15 an hour will perfectly meet 40 hours work law without overtime or working multiple
Raising minimum wage would benefit many people and would give them a higher standard of living. It is the american dream to start with little to nothing and work your way to the top. But some people are just not in the right place in life to become rich and successful. But no one can argue that if those people are making the current federal minimum wage of $7.25 per hour, their quality of life will sky rocket if they even just get a couple dollars more per hour. Rent would be paid on time , ability to buy more nourishing food than just mcdonalds and toys to make childrens childhoods more enjoyable. All these things can be accomplished with only a couple of dollars added to the federal minimum wage. For example australia has the highest minimum
"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
Currently, Ontario has the policy of raising employee' salaries to a minimum, it aims to help employees have more money to pay for the things needed in their life. However, the results are contrary to the initial expectations. Some negative issues have arisen later, such as many demonstrations have taken place between the authorities and the companies, reducing employee hours or making the company less profitable. Consequently, raising the minimum wage creates some difficulties for business owners.
Price floors are the minimum amount the government permits a product/service to be sold at. The most common price floor is minimum wage due to the fact that many people are either in favor or against this specific price floor. What many of the people that are against minimum wage do not understand is that increasing the minimum wage isn’t just about paying low-income employees more, it is bigger than that. Increasing the minimum wage would affect employees, companies, franchises, etc… Minimum wage should stay the same because not only will it affect everyone but increasing minimum wage could also bring consequences.
In order for everyone in a society to have equal opportunities to health, policies should be in place to improve the education, housing and transportation. There should be policies that would provide houses in good conditions, as well as, safe environment to low income families. Affordable transportation should be in place especially for people who cannot afford a car, or do not drive due to health reasons. Most importantly, the minimum wage should be increased because the cost of living increases everyday, but our pay has remained stagnant. Healthy living should be included in the school curriculum and more people should be encouraged to attain degrees other than high school diploma. This can be done by lowering the loan interest rate and
Can you imagine losing your only income due to an increase in higher minimum wage?