raise the price of minimum wage? Will the economy prosper by providing lower skilled workmen with higher paying jobs? Many Americans are all for raising the wage whenever they think it is needed. However, raising the wage has many negative impacts and has created a weaker economy. Continuing to raise minimum wage has caused people to become complacent and give up on their dreams. The Federal Government has made laws regarding minimum wage that were illegal and violated citizens rights. The government's interference with capitalism has made for a weaker economy, and it could be fixed by ceasing the increase in minimum wage. A vast majority of Americans believe that minimum wage should be raised. “25 percent of the US workforce was unemployed” …show more content…
The U.S was once the most feared and powerful nation on the face of this earth, but now that can not be stated as a fact. The country lead in research, jobs, prosperity, and wealth. There was a free market, and people had the ambition to be better than average. They were willing to work extremely hard until they did so. Now however, people expect the government to take care of them. People are satisfied working at a “minimum wage” that has no actual purpose. Nobody can actually live off of this wage, and anyone who earns minimum wage needs government assistance anyways. This creates “Working Poor: A term used to describe workers who are employed but still unable to afford the cost of living” (Aliprandini). The Federal Government continues to go into debt, and the working poor are the root of the country's problem. People do not realize that minimum wage was not created for able bodied adults. If one does not have a skill to make more than minimum wage, they should focus on acquiring one. This country needs to focus on recreating a supply and demand economy, which it prospered off of at one point. Once people start earning the wage they deserve, the employers would adjust the prices of all goods accordingly and remove the pointless inflation caused by minimum wage. This would drastically reduce the living wage, improve the economy, and start giving people the motivation to make our country great
After thoroughly reading two articles by Surowiecki and Saltsman on if the United States raising minimum wage, the minimum wage should remain the same. To support this statement, Saltsman states that the people who live below the poverty line, in fact, are not poor because of minimum wage; Americans remain poor due to not working at a job. People continue to live in poverty because they lack the skills to even attain a job or look for a job. Even though Surowiecki claims that 46% of today’s families live off of a minimum wage worker, minimum-wage jobs weren’t meant to support families. Minimum-wage jobs were meant for teenagers and woman.
Minimum wage has emerged into one of the most contentious topics today. The issues involving minimum wage has always been entangled in a huge debate, therefore two groups of people were created; the proponents and the opponents. Both of these groups go into immense debates that entails both the pros and cons of raising the minimum wage. Minimum wage is defined as the lowest wage paid or permitted to be paid; specifically a wage fixed by legal authority as the least that may be paid either to employ persons generally or to a particular category of employed person. Advocates that want to raise the minimum wage believe that it has not kept up with the Cost of Living Average, as a result, many of them push for a higher wage in order to keep up with the cost of living.
In today's society many people work at a minimum wage job with getting paid $9.00 dollars an hour. Every year it seems to increase by $1.00 dollar by 2016 the minimum wage and what the workers will be getting paid will be $10.00 dollars. Which is getting close to someone who sits in an office all day and works for a big corporations or big business. Coming from someone who is a teenager and in high school working at minimum wage is not entirely bad but when they take out taxes and being underage is very unacceptable. What is going on today is in New York Board , many minimum wage workers are demanding that they increase minimum wage to $15.00 dollars an hour instead of 9 because many people in that state are tired of being paid under what
The minimum wage in America has become a hotly debated topic among the people of the United States, from people working in fast food restaurants to politicians and businessmen alike. The main issue that people are debating on is whether or not the minimum wage should be increased, decreased or remain the same. There are as many, if not more advantages to raising the minimum wage that there are to lowering it, based on factors such as economic growth, inflation, as well as many other things, such as the fact that the minimum wage was established to provide an amount of money that one can supposedly live off of. The amount of poverty by percentage has done nothing but increase since we have declared a war on poverty.
I do not believe that it will be beneficial for the United States to pass a minimum wage policy that puts it over the poverty line. Basically, this will dive the prices of products up so companies can manage profits. Additionally, the demand for products will additionally drop because of the rise in prices. Since the demand for products will be dropping, this will lead to less money in the business owner’s packet, which can lead to job losses. Even though the minimum wage workers will have more money on pay day, the rise of goods will cause inflation, and they will still not be able to afford anything.
An issue that is hotly debated is whether or not the current minimum wage, which is $7.25 an hour, should be raised or kept the same. President Obama thinks that raising the minimum wage to $10.10 an hour would be a good idea, but others oppose the idea. Raising the minimum wage would not be a good idea for several reasons. Some people believe that raising the minimum wage could possibly do harm to the economy that is already recovering from the Great Recession, however, others say raising the minimum wage would boost the economy. According to the article “Should the Minimum Wage Be Raised”, raising the minimum wage could cause businesses to have to cut the hours of workers, fire them, or higher fewer of them in the future (Smith).
The federal minimum wage should be increased because raising it would increase the economic activity and spur job growth, decrease poverty, and also improvements in productivity and economic growth have outpaced increases in the minimum wage. Increases in job growth and economic activity will happen when the minimum wage is elevated. If the minimum wage was increased it will “inject 22.1 billion net into the economy and create about 85,000 new jobs over a three year period”. (“Raising the Federal minimum Wage to $10.10 Would Lift Wages for Millions and Provide a Modest Economic Boost") Thousands of new jobs will be created and it will put billions of dollars into the economy.
Also, it might take time for employers of many low-skill workers to learn how to economize on their labor costs. They will over time since the incentives to do so are much larger and that would be bad news for the very low skill workers the higher minimum wage is designed to help. Whenever increasing the minimum wage is discussed, there is always a concern that doing so might hurt job growth or imperil businesses that employ low-wage workers business they have to pay their works more and that could be hard for some business or companies. The effect of increasing the minimum wage on employment is probably the most studied topic in labor economics because the government has to worry about inflation and prices going up and also the consensus of the literature is that moderate increases in the minimum wage have little to no effect on employment.
A minimum wage was created so employees would receive a fair pay for the job that is being done. But, there is a limit to how high the minimum wage should reach. Raising the minimum wage can cause a great deal of issues in America and put a gross amount of people at a disadvantage. Many citizens in America believe the minimum wage should be higher, but the solution is not to have a higher minimum wage.
I am against the government raising the minimum wage. Raising the minimum wage would decrease employee benefits and increase tax payments. According to James Sherk, at the Heritage Foundation, a single mother working full time and earning the federal minimum wage of $7.25 an hour would be over $260 a month worse off if the minimum wage were raised to $10.10 "While her market income rises by $494, she loses $71 in earned income tax credit refunds, pays $37 more in payroll taxes and $45 more in state income taxes. She also loses $88 in food stamp benefits and $528 in child-care subsidies.
Since the Great Depression, there has been a minimum wage in America, but this minimum wage has changed 22 times since the Great Deprnbession. Many people say minimum wage should stay at $7.25 like it has been since 2009. Meanwhile, other people believe that minimum wage should be $15.00 so they can have more money to live comfortably. People think that a higher minimum wage will help, but it will hurt more people than it will help. If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out.
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.
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.
Increasing the minimum wage would rise economic activity and spur job growth. It could also reduce government spending and lessen income, race and gender inequality. Despite the good intentions, it is ineffective and minimum wage is a uncertain policy that should be questionable for anyone concerned with the troubles of the poor. Minimum wage does not help to solve the poverty problem. If labor market has no restrictions, the wage would adjust so that anyone willing to work could find a job.
In the past three years, many politicians and labor unions have been pushing for an increase in minimum wage. Minimum wage is the lowest set wage by a law of a government body. An increase in minimum will benefit some people, and hurt others. An increase in minimum wage will cause benefit in the short run but will be very damaging to the economy in the long run. There should not be an increase in minimum wage because it is unhealthy to the economy in the long run and it will be the major cause of job loss, increase in inflation, competition, and the price level of goods and services.