It is lazy but some people truly need it and deserve that kind of welfare. If they raised the minimum wage and took more money in taxes for things like social welfare i think it would help bring us out of poverty. And help many of those in poverty. Raising the minimum wage can be risky but us much needed there needs to be a way they can make it happen without making things worse. They don’t need to raise it so high it makes the prices go way up i think they just need to raise it to living wage and not poverty and keep the prices of goods the same and i think it would get more money flowing and things wouldn 't seem so expensive that is needed to live in today’s modern world.
Although there is satisfaction from the benefits and advantages of labor unions, these advantages can be invalidated by their potential impact and others may disagree with the ability of labor unions and what they provide. For example, negotiations being made can lead to high levels of wages and other costs. Thus if the company is not able to sustain the high wages and costs for union workers, it can raise prices on the goods or services it provides. As a result, it can outsource its labor. In addition, it can also deteriorate the core of the company by reducing the number of employees and as a result causing an insufficient workforce.
Those affected by low minimum wage laws are not only limited to low income or middle class workers but taxpayers also. If a low income worker needs government aid that has to be paid for by taxpayers. Increasing the minimum wage comes with many benefits to workers and the government such as more income means more money individuals will be able to spend and families that rely on government aid because of low wages will ideally no longer need them because of higher payment they will receive. Many democrats and supporters have pushed to raise the federal minimum wage to better reflect the current cost of living, while other states have already taken initiative and increased their own minimum wage laws. The increase of the federal minimum wage is difficult to execute because of the republican political party, they argue that increasing the minimum wage will cause job loss, a rise in prices, and less hours an employee can work.
In Friedman 's quote he is saying that the workers who are earning their money are getting taxed more to help the unemployed through welfare, unemployment, and subsidize. Many capitalists believe you will not get ahead if you don 't put in the effort and work hard. Friedman is an extreme monetarist, which means he believes highly in capitalism. Friedman would say people should be responsible for themselves and not depend on the hard working wealthy people because it is not fair to the ones who work hard just so others can benefit from it. Friedman would argue that if it were a capitalist economy and people had no jobs, then society would just have to adjust to a higher inflation rate instead of increasing taxes, this would cause unemployment to decrease over
Capitalism is inescapably better than socialism. If you want to have a successful economy, you need to have competition between small business. The redistribution of wealth, a key socialist idea, allows businesses to stay in operation, allowing for cheaply made products and a poor work ethic. This, in turn, eliminates the idea of business competition because of the fact that if a business is faltering, the government will take care of them. Without government protection, however, it results in better quality goods
The major reason against raising the minimum wage rate is that businesses are unwilling to overcompensate an individual if they have not contributed that amount of value to the company. In the article “Problems With Minimum Wage” author Jason Gillikin addresses this topic. “If an employer needs someone to perform odd jobs, and he values the work at $2 per hour, he will not hire a person if the minimum wage is $7 per hour, thus keeping unemployment in low-wage brackets higher than it would otherwise be” (Gillikin). In order to compensate for the increased cost of paying workers more than what they are contributing, a company may chooses to reduce the amount of total hours worked for each individual in an effort to reach an efficient wage expense.
By getting a better and more expand education, people can prepare themselves for better job opportunities and political interest. Raising minimum wage would be the ideal fix to economical inequality because it would index to the inflation; the cost of living would be affordable. The wealthy should get taxed more and get less tax breaks than the low-income families. By correcting political imbalanced, the lower class would be able to get their opinions heard and also get job security to protect the workers’. The Occupy Wall Street is a movement against social and economic inequality that has spoken up and fought for the people in the lower class.
Share the benefits of economic growth through an emphasis on more widespread employment. The phenomenon of jobless economic growth that increases income inequalities and generates too few jobs for low income groups poses a serious threat to the well-being of many nations. Government policies should consider not only aggregate economic impact but also the distribution of employment. Socially responsible venture capital and microcredit initiatives can foster employment-generating businesses that complement the local culture and
These employees would reject the layoffs because to put it simply, it is a loss of a job that can not easily be replaced. By making them find new jobs it could cause an uproar. Lowering the expense of college would not be an easy task, but if we’re able to overcome the obstacles, it would be a definite
As the upper class increases, the people from the other classes begin to lose their jobs or even their homes. Significantly, having a capitalistic government would not decrease poverty, it would maintain it, because there will always be wealthier people willing to hurt the poor. On the other hand, theoretically people are considered equal in a communistic government. They’re all given equal resources like health care and education, but most importantly, jobs. With unemployment decreasing, a vast decrease in crimes and poverty would occur, as well.
But yeah it is nice to have extra money by raising minimum wage but it is going to be the same thing overall, if not worse the bills are going to go up with it. Raising minimum wage could reduce the benefits you get such as insurance, vacation, and your future. Raising it as well means what about all the people that already have their worked their way to what the minimum wage wants to be set at. Do they expect them to stay at that same wage or go up as much as minimum wage raised. It is hard to raise the minimum wage therefore it shouldn 't.
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.
The New York Times states, “Employers do not automatically cope with a higher minimum wage by laying off workers or not hiring new ones. Instead they pay up out of savings from reduced labor turnover, by slower wage increases higher up the scale, modest price increases or other adjustments” (4). It would not make sense for businesses to raise prices for consumers because the possibility of losing sales is very real. That argument, that raising the minimum wage would hurt consumers, just furthers the negative sentiment people have towards this topic. Numerous studies have shown that employment increases from the state and federal level had an overall positive effect on employment (Whitaker et al.
Raising the minimum wage isn 't entirely beneficial. It could potentially lead to more unemployment as some businesses may reduce their number of employees or reduce their hours in order to offset the cost of paying a higher minimum wage. Some may also increase the prices of products or services offered. It can also possibly lead to a decreased interest in college education since minimum wage jobs are paid almost the same or can be more than what jobs requiring college education pay. On the bright side, there is greater purchasing power for workers with the revenue going back to businesses they patronize and products or services they avail of or purchase.