Specifically, raising the minimum wage 10 percent (say from $7.25 to near $8) would reduce the number of people living in poverty 2.4 percent." Evidence of Problem Existence: Most of us can't get by on minimum wage pay and leaves people struggling at home. Chris Isidore stated on a article listed on CNN that "About 20% of American adults who have jobs are earning only $10.65 an hour or less, according to Osterman's analysis. Even at 40 hours a week, that amounts to less than $22,314, the poverty level for a family of
If you keep the minimum wage at $7.25 people will stay in poverty and homeless or on the verge of homelessness. 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
However, if representatives were to look closely then it would realize that lowering the drinking age would be an extremely huge contribution towards their effort of getting rid of financial problems. According to The National Center on Addiction and Substance Abuse, underage drinking accounts for about 17.5 percent of consumer spending in the U.S. That would be about 22.5 billion dollars per year. It would make sense to view that already as a huge amount of money for our economy but if more people were to be allowed to purchase alcohol then it would only boost the revenue even more. Keep in mind that places such as bars, restaurants, and other establishments would also be able to make more profit from the increase in alcohol consumption which would most certainly boost the tax revenue as
Almost all articles, for or against the raise, agree that as long as the poverty line is not adjusted, then state and federal services that low-income workers were previously using would decrease. This means that the money that is no longer being distributed in food stamps or other services can be returned to Washington, D.C. and be redistributed. Economists say that raising the Federal minimum wage to $9 will restore the dollar to its real value (The President’s Plan). And indexing the minimum wage would ensure that working families keep up with inflation. Many economists say that by raising the Federal minimum wage by $2 would increase the unemployment rate significantly.
Additionally, in Document O, Andrew Carnegie reduces the worker's pay wage by 20% in order to donate more money for his own selfish needs. With workers already receiving low wages per day, Carnegie decides to decrease the wage even more to between $1.12 and $1.80 per day and rarely $4/$8 per day. Finally, Andrew Carnegie was selfish. In Document I, it shows that while iron & steel workers work longer than machine shop workers, machine shop workers received more than iron & steel workers. Andrew Carnegie’s daily wage was about $92,000, meaning he could’ve paid his workers more but refuse to.
Justificatory Argument Progressive Tax System is Pivotal for Our Nation’s Progressive Growth As the 2016 presidential election nears, the debate on tax reforms is heating up. In the latest presidential candidate debate in November, the Republican candidate Ben Carson proposed the adoption of flat-tax rate: “Everybody should pay the same proportion of what they make”. At least four other Republican candidates have talked up their support for replacing the current tax system with a flat tax system, saying that it will substantially simplify the tax collecting process. However, it is important to note that the use of progressive tax system is necessary for effective wealth redistribution and the subsequent maximization of social utility. Now,
“The minimum wage is currently more than 25% below its real value in the late 1960. The Congressional Budget Office (CBO) reports that the Harkin-Miller bill to raise the minimum wage to $10.10 would cumulatively boost incomes of people below the federal poverty line by $5 billion..... other academic research finds that the same bill would lift more than 4 million people out of poverty (Gould 2 par. 5). Raising the minimum wage may also help cut back government assistance, such as SNAP or cash assistance, which is ultimately beneficial to our economy. Besides helping the economy, we, as American citizens, need to help our fellow Americans.
And while this may have been the norm in 1959, in 2015 it takes two paychecks to even come close to this idea. Source E states that “the American dream costs approximately $130,000 annually.” The American dream will not only take over two paychecks but also the entirety of your human spirit and the well- being of the household. Once you sell your soul to gain material items, the dream has already zoomed by you and on to the next bigger and better good. This constant feeling of inadequacy talked about in source F fuels a drive to be the best among all and prompts Americans to dust off the boxes of love and integrity just in time for their next garage sale of used and unneeded items to make room for the latest and greatest car that you have to have. Martin Luther King gave his ‘I have a dream’ speech in 1963, a time when the American dream was being equal with fellow American, now that dream has twisted into one of greed and self-indulgence.
Getting a proper college education will also lead to you earning more money in your profession. “Adults who graduated from a four-year college believe that, on average, they are earning $20,000 more a year as a result of having gotten that degree. (Source F). According to the U.S Census Bureau, college graduates with a bachelor’s degree make an average salary of $51,206 per year and graduates with an advanced degree make an average salary of $74,602 per year. Non-college graduates make an average salary of $27,915 per year, which is significantly lower than the amount college graduates earn with any degree.
The successful reduction of federal budget deficit encouraged wall street which allowed the creation of 22 million jobs ( the highest number ever under a single administration) and reduced the unemployment rate from 7.3% on January 20, 1993 to 4.2 on January20,2001 (Appendix B), which explain the decrease of the poverty rate. He also maintained a GDP average growth rate of 3.8 which could be considered as a good result, comparing to the precedent presidents after the Second World War only 3 of them performed better than him. We can mention Truman (4.8), Kennedy (5.2) and Johnson (5.1). Plus, Federal spending decreased from 22.2 percent of GDP in 1992 to 18.4 percent in 2000. According to the Washington Post the inflation rate was stable during bill Clinton presidency.