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Persuasive Essay On Minimum Wage

526 Words3 Pages

After doing some research on “Livable Wages” for One Adult, and Adults with children. There was a nice chart with break down on expenses and wages even for each county. I came up with what I believe should be a reasonable Minimum wage of $15-17 an hour and more reasonable of a living wage. Now this is just my opinion on what I think it should be. I also did a lot of asking friends and family their thoughts most of them stated in between $14-$18. Livable wages for 1 Adult no children in the state of NY is approx. $14.42 and then if you have 1 Adult and one child the approx. livable wage is $29.71. That is quite substantial between the two. My family is fortunate enough to have livable wages for our family and some. So, this isn’t a battle …show more content…

Do I see them increasing it up to potentially $17 state wide? I could see potential in that in a few years possibly but not anytime soon that is for sure. Raising the minimum wage will make people very pleased for the most part but the economy will possibly struggle also. Granted raising the wage will help those on Social Welfare off it. But in the end, they may suffer and possibly even struggle more cost of living is constantly going up.

Raising the minimum wage from could put pressure on other lower-paying jobs which pay slightly more than the existing minimum. This could cause stress in the compensation structure of many small businesses. In fact, any mandate from the government which increases the cost of doing business could result in many consequences, mostly negative. First, it could cause prices to rise as businesses attempt to protect profit margins. Next, it could cause a loss of jobs if the business is forced to reduce expenses, again, to maintain profitability. It could also lead to an increase in automation, depending on the specific job. Therefore, the cost of living would increase, and the value of the new minimum wage would decrease. Finally, it could have little or no effect on small businesses, if an adequate profit margin already exists and the owner is willing (or able) to absorb the additional

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