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What are the positive effects of raising the minimum wage
What are the positive effects of raising the minimum wage
What are the positive effects of raising the minimum wage
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If today’s economy kept up with the minimum wage in correlation to worker productivity it would be $21.52, but instead the minimum wage is a measly $7.25. Today the topic of raising the minimum wage to $15 has become a controversial topic, so much that it has become a discussion point in the 2016 Presidential debates. Those who support raising the minimum wage argue that it will help stimulate the economy and lower the number poverty stricken families. Those who oppose raising the minimum wage rebottle that it will only raise inflation and increase the number of unemployed workers. The federal government should raise the minimum wage to $15 because it would help the working poor climb out of poverty, boost economic activity, and lessen the
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
This article gives you a yes and no opinion on whether or not the F...
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,
Poverty continues to grow in America. The average minimum wage in the United States is $7.35 an hour- far too low in today’s society. Key expenses, for example, gas and housing prices, have gone up significantly since the minimum wage was last changed in 2007 (Wagner 52). The laws creating the minimum wage were intended to improve the standard of living and decrease poverty. Raising minimum wage is a vital step in decreasing poverty and giving every family the opportunity to survive and succeed. Millions of hard-working Americans are below the poverty line and need an increase in pay. Minimum wage must be raised because it will diminish poverty and assist the working class to support their families.
"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."
"No family gets rich from earning the minimum wage. In fact, the current minimum wage does not even lift a family out of poverty."
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.
An ongoing hot topic that has been on many people’s minds nowadays would definitely include the proposal for increasing minimum wage in America. However, one group is going unnoticed and unrepresented in the debates. Since the Fair Labor Standards Act (FLSA) was put into effect in 1938, it has become acceptable to require certain workers to work for tips. Waiters and waitresses make up the majority of this class of employees. The law states that “an employer of a tipped employee is only required to pay 2.13 an hour in direct wages of that plus the tips received equals at least the federal minimum wage, the employee retains all tips and the employee customarily and regularly receives more than $30 a month in tips” (“Fair Labor Standards Act Advisor”). Of course, this does not always work in the favor of the employee. However, there is substantial evidence that is in favor of giving tipped workers an actual, livable wage. In order to ensure that all workers in America are treated equally, waiters and waitresses in the United States should be paid the base minimum wage of seven dollars and twenty-five cents ($7.25) per hour.
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.
One of the most prominent topics in current economics is whether the minimum wage should rise or remain the same as it has for over six years. Many middle and lower class Americans believe that a minimum wage of $7.25 is unethical because it is not a livable minimum wage; a standard workweek of forty hours at a wage of $7.25 per hour is not enough to pay the rent for most citizens of the United States. In 2013, there was a push to raise the minimum wage to $10.10, which was backed by even President Barack Obama, but such efforts to raise the wage were not enough. Within the past two years, the interest in raising the minimum wage to a “livable wage” has only grown. Tim
"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
I think there are many issues that obstacle the increase of the minimum wage act. One important issue is terrorism. Raising the minimum wage should be fine when the economy is doing great. However, the raise of the wages will be a disaster in the period of depression. Also, another point of view says the increase in the wages will force the work owners to raise prices, and reduce the staff workers to half, which may kill the jobs afterwards.
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.
“Of course, nothing helps families make ends meet like higher wages. … And to everyone in this Congress who still refuses to raise the minimum wage, I say this: If you truly believe you could work full-time and support a family on less than $15,000 a year, go try it. If not, vote to give millions of the hardest-working people in America a raise.”