“In fact, about three in four Americans support raising the minimum wage.” (Obama, 2014) Why do people want to increase the minimum wage? Let think of having a minimum wage of $7.25 per hour, and for a McDonald meal cost around $6. People worked an average 8 hours per day, and if people are having 3 meals from McDonald every day; it had already spent more than 30% of daily wage of the working class. I define working class people as a group of people who get low paid or who work with low-skilled jobs. That means the working class don’t have enough money to spend, and it causes people living paychecks to paychecks. Many people assume that increasing the minimum wage will not be helpful and it will cause higher unemployment and inflation. However, …show more content…
Therefore, helping poverty is a major demand in the country due to a large group of impoverished people, and increase the minimum wage is beneficial to poverty people and also low paid workers. We can see that in the news or in some neighborhood, poverty people don’t have a good live because they can only or even can’t fulfil their basic needs. Increase minimum wage can improve their quality of living, because they have extra money to spend and fulfil their needs. Helping poverty people and increasing their income can absolutely reduce the group size of poverty. It is a good sign in every country, especially the United States, because there are 46.7 million people in poverty and this number had been increased past several years (U.S. Census Bureau, 2015). One of the most positive effect of increasing the minimum wage is attracting impoverished people to work rather than getting unemployment support. Some people would like to get unemployment support rather than work because the wage or salary is too low. Therefore, increasing minimum wage can be attractive to the poverty people that who are not willing to work, because there is no one wants to work when having similar amounts from unemployment benefits. Furthermore, the problem of inflation …show more content…
Increasing the minimum wage can be a component that make the economic stability, because it is beneficial to the labor market by providing more job opportunities and also the business by raising employee performance. In the case of the minimum wage had increased, low paid jobs have higher paid, then more people are willing to work that kind of jobs. Therefore, the humble jobs or other low paid jobs can hire enough people, and provide work opportunities. In fact, increase minimum wage will not increase unemployment, and in contrast, people will have more work opportunities. It is because economist had proved that increasing the minimum wage will not affect unemployment, and also some business such as retail store will hire more people when more people are willing to buy goods.
Additionally, Covert (2014) mentions that workers will not be cut off or be replaced by machines because humans can do something that technology can’t do. In this specific instance, machines and robots are only programmed for simple process, so when something sudden occurrence they couldn’t make choices or decision to deal with those problems. Therefore, human workers will not be replaced, because they are necessary to work in some position, and have control of the machines and
A recent study involving three hundred fifty thousand small businesses and the IRS proved that by raising the minimum wage, proved that by raising the minimum wage in cities, actually created jobs (Meyerson A.19). The survey showed that the cities with a higher minimum wage had more jobs come to the area, aiding in job growth (Meyerson A.19). Another argument that leans toward the raising of the minimum wage involves people in poverty. Studies have shown that by raising the minimum wage, more people can live above the poverty line (Meyerson A.19). By raising the minimum over nine hundred thousand people would be
According to William Dunkelberg, a writer for Forbes magazine, by raising minimum wage there could become less jobs than before. Though the people who have jobs would be making more money, smaller companies wouldn’t be able to pay for their employee’s, and would have to let people go. “Small businesses stay in business
Raising the minimum wage would lift many people out of poverty, making opportunities more accessible
Minimum wage would raise the wages of many workers and increment benefits what disadvantaged workers. An estimated 6.9 million workers would receive an incrementation in their hourly wage if the minimum rage were raised to $10.15 by 2015. Due to the spill over effect the 10.5 million workers earning up to a dollar above minimum wage would withal be liable to benefit from an incrementation. Women are the most astronomically immense group of beneficiaries from a minimum wage increase. Sixty percent of workers who would benefit from an incrementation are women.
Minimum wage should not be raised because it is not an income that someone sold live off of. Minimum wage in the country is currently $7.25 but some states have changed it in a way that is way too much. For example Washington state currently has the highest minimum wage at $9.32 that’s a $2.07 increase to the current amount minimum wage. Seattle is currently considering to raise their minimum wage to $15 it’s understandable that the city is very large and things cost more money but if they raise minimum wage to $15 that will only bring inflation causing things to cost only more money than it already does. If there is one thing that should not be done to the country it is to cause inflation.
Higher wages attract more employees and reduces turnover, which results in company’s saving money. In addition to assisting employees to live above the poverty line, a minimum wage increase would benefit owners. A higher minimum wage would benefit people across the board, it should stop being politicized so
Too the amount of government assistance can decrease. The decrease in government assistance could mean that taxes across the board can be lowered. Considering that taxes are a huge problem in this country i think that the minimum wage increase can mean happier people across the board. People don 't realize the massive amount of money we spend a year on government assistance. On average we spend $3.7 Trillion a year due to government assistance.
A minimum wage increase from “$7.25 to $10.10 would result in a loss of 500,000 jobs”. ("The Effects of Minimum-Wage Increase on Employment and Family Income”) This claim is better because it shows how raising the minimum wage will decrease job growth instead of increasing it. But, the minimum wage should be increased because increasing will also increase economic activity and spur job growth, decrease poverty, and improvements in productivity and economic growth have outpaced increases in the minimum
Because taking into account negative employment effects and increases in consumer prices induced by the minimum wage would wipe out any positive direct effects on household affected by the minimum wage. The minimum wage becomes even less effective in reducing income inequality when negative employment effects are taken into account. I will address the negative effects in sociological aspects by the
A person working full time at the federal minimum wage of $7.25 per hour earns $15,080 in a year, which is 20% higher than the 2015 federal poverty level of $12,331 for a one-person household under 65 years of age, but 8% below the 2015 federal poverty level of $16,337 for a single-parent family with a child under 18 years of age (procon.org pro#2). If you put the minimum wage at $9.00, people will be able to live comfortably without unemployment rates going up. However, raising the minimum wage
Minimum wage and poverty With everything going on with the Walmart workers picketing for fifteen dollars an hour wages, the topic is widely discussed with many people taking many different sides. The essay “Raising the Minimum wage will reduce poverty” By Sharon Parrott and Jason Furman, They go into how they think the minimum wage should be raised in order to decrease poverty in america, Of course there are reasons to raise it and reasons to not raise it. Yet with the multitude of reasons for and against it, it’s hard to make a decision that makes everybody content, Some of the reasons not to raise it include, Raising it can make prices for everyday items go up, Why go and spend thousands of dollars on college when you could get a decent job right out of high school, and Why let workers who work at unskilled jobs make as much if not more than the military. Some reasons for minimum wage raising is, The fact that the cost of living is higher means people can’t survive with minimum wage without federal care, And just helping people get back on their feet when they couldn’t find a job. The reasons Minimum wage shouldn’t be raised outweigh the reasons it should.
However, changes to the minimum wage may also have negative effects on the labor market and economy. When there is an increase in the minimum wage, the cost of living goes up which makes it harder for the lowest earners to pay for their basic necessities. When companies have to hire workers for a higher price, they are likely to pass at least some of the costs onto consumers since the marginal cost will be higher. It may also lead to unemployment in the
In conclusion, a federal minimum wage increase will significantly improve the standard of living of low-wage workers. To meet their basic needs, workers must be given a living wage. It is not only morally correct to do so, but also beneficiary to both ends. The increase in wages allows for a more supportable income, but it also stimulates the economy.
Many politicians, business owners, and citizens hold fast to the belief that heightening the salary attached to minimum wage positions will yield negative benefits for our society. This opinion is supported by three vital view-points. The first can be found in the news article, “The Argument Against Raising Minimum Wage.” It expresses how the enlargement of this payment will take a toll on employment. The document reasons that if the amount of money employees earn is expanded, companies will be less likely to hire as many workers (Huppke).
Many argue that an increase in minimum wage will help guide low skilled workers out of poverty and assist them into having a better career. That is not necessarily true, Many economists can agree that minimum wage jobs such as cashiers, host or a hostess are not jobs that meant to support a family. If anything by raising the minimum wage, it will put more people in poverty than guide them out of poverty. A raise in minimum wage will cause loss of jobs, an increase in the inflation rate, increase in