The Pros And Cons Of Increasing The Minimum Wage

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Minimum Wage Must Take The Stage The cost of education is a lot more money today, not only college are expensive also we have these private and catholic school that are charging a fortune to get kids to go to school to just get a better education. In today’s world if your parents are making minimum wage, their children cannot attend school because their parents cannot afford to pay for their education. Paying people the right amount, shows respect and acknowledgement of the value they deserved and contribute to your business. This problem can be improved, minimum wage must be raised for us to survive our modern society. The minimum wage should be raised today due to the fact that the cost of living in Florida has drastically gone up. Paying …show more content…

These changes come after years of debate to raise the minimum wage so family can earn a living on minimum wages. The federal US minimum wage was first established during the depression and was rise from .25 cent to 7.25 per hour since it was organized in 1938. Increasing the minimum wage may have collision beyond adding more cash to workers pocket. Authority assert that the real effects on minimum wages increases a lot of negative thing to happen like hurting …show more content…

At the federal level, Obama has conduct support to raising minimum wages multiply times. The president took it upon himself to raise wages for workers on all new federal contract working for 10.10 dollars are higher. Raising minimum wages will help a lot of business save a lot of workers and help people make their family happy again. Normally nowadays a person that work full time on a minimum wage job they salary for the year is $14,500 a year which leaves a lot of family struggling at the end of the day. A family of 4 living on minimum wage is more than living in

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    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...

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    Well, raising the minimum wage has both the pros and cons. Still, the fact that increasing the minimum wage nationwide would increase millions of workers’ earnings is deniable. I suppose that’s why some people advocate raising the minimum wage will grow the economy for everyone. In 2014, the president of the United States, Obama, called on the current Congress to raise the national minimum wage, which proves that Obama actually supports raising the minimum wage. ‘February 2014 Congressional Budget Office Report The Effects of a Minimum-Wage Increase on Employment and Family Income is the latest attempt to do so, in this response to Members of Congress with respect to an increase in the federal minimum wage from $7.25 to $10.10 per hour.’

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  • The American Dream: A Delusion? By Laurie A Johnson

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  • The Benefits Of Raising The Minimum Wage

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    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.

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  • Minimum Wage

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    Over the years the cost of living has been on the rise. Therefore, it is only right for minimum wage to increase as the cost of living increases. Many states and even some individual cities have taken the first steps toward raising the minimum wage. States like Washington and cities like San Francisco have already raised their minimum wage above the federal minimum wage. This is a very good start as it is becoming harder and harder for Americans to start and take care of their families. We need more states and cities to follow their lead some more Americans can feel more financially stable. This will make a better America for us all.

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    The minimum wage today has a lot of issues; some people say it is not enough to live comfortably. Many agree that there needs to be an increase in minimum wages and by doing that it can help with our issues of poverty. Statistics show that a worker who is full time and earning minimum wage makes only $15,080 a year, which is under the federal poverty line for a family of two. (Gitis, 2013) The problem with that is $15,080 is not a sufficient amount that a person can live and grow on. “A family of two can consist of a mother and son or daughter, father and son or ...

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    Minimum wage has been around for ages. Minimum wage employment was a temporary condition for people earning little payment until they moved on to a better paying job. These jobs helped build résumés, experiences, and skills for a better career. It has become the easiest way for people to receive easy pay. As years went on that idea began to demolish into a job that many families can get to survive and pay for their expenses. There have been many arguments going on, "Should minimum wage be raised or should it be lowered or eliminated altogether?" This action has its pros and cons. It can benefit many families as living cost has gone up, price for education is rising, and college students are in huge debts. It may increase poverty, but those

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  • History of Minimum Wage

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  • The Minimum Wage Should Be Increased

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    Today the federal minimum wage is $5.15, but should be about $8.50 if Congress had adjusted it for inflation over the past 35 years. While $5.15 may not seen that bad, when factoring in such variables as sky rocketing gas prices, budgets can get pretty tight. David Shepard, a sophomore at Wayne State University, worked at a Meijer Retail and Grocery Superstore for over two years while in high school. At the time Shepard lived with his parents and didn’t have to worry about paying rent or buying groceries, all that he had to pay for was filling up his gas tank and paying for his car insurance. Shepard recalled, “It was all I could do to pay for the basics like gas and bill’s, I barely had any money to have fun on the weekends”. This is only an example of a high school student that can nearly slip by on minimum wage with only a few expenses. There are 1.8 million people in America with children under the age of 18 that would benefit from an increase in minimum wage (Minimum).

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  • The Minimum Wage Must be Raised

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    "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

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    Describing themselves as the class that will sustain the power to control the economy on their wants. Business owners claim that such a raise would result in lower profit for businesses, increase in prices, cutting off some workers to be able to stick to the minimum wage, which leads to a lot of people losing their jobs (Mejeur, Jeanne, 2014). A study done by David Neumark , and economics professor at the University of California, and William Wascher deputy director of research and statistics at the Broad of Governors of the Federal Reserve system . “[m]inimum wages may harm the least skilled workers more than is suggested by the net dis-employment effects estimated in many studies." The increase may lead to a disadvantage of unskilled workers because it would be expensive training them. Training them means that more money needs to be spent, in addition to trying to keep up with the increase and the demands of the workers. Increasing the minimum wage is only going to affect the people working. On the other hand, it would trigger a loss of jobs or the people who are looking for jobs. President Obama has proposed a raise, so it can help the poor. Unfortunately, Mr. President miscalculated the outcome because first people living in poverty don’t work thus are not affected by the increase. Second, Data from the Bureau of Labor Statistics show

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    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.

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