Some say that raising the minimum wage will lift people out of poverty and provide a higher standard of living for everyone. Others believe that doing so would damage the economy and result in the loss of jobs. Raising the minimum wage would be detrimental to the economy, because it would create many problems for businesses and the free market. Raising the minimum wage would have a negative impact on the quality
Many people against raising the minimum wage argue it would raise the unemployment rate. Many argue companies wouldn’t be able to keep the same amount if workers, and half a million jobs would be lost (Minimum wage). This is not true, the extra money in customers hands would raise the economy enough to cancel out the extra costs, and actually create more jobs. Jobs might initially be lost, but in the long run, they will recover with a vengeance. In the end, when people say raising the minimum wage would lose jobs, it is a temporary loss that will recover within a year or
Imagine an increase of unemployment, closing of businesses, and living costs. These would be results of an increase of minimum wage. The increasing change of minimum wage does not always result in beneficial ways. Would you want a hike in minimum wage if it could possibly raise the prices around you? Minimum wage is affecting employment, businesses, and how people live in ways that are unrewarding.
Desiree Ripoll Professor Heuer ENC 1102 5/30/2017 Increasing the Minimum Wage is Good for America Raising the minimum wage is not only beneficial to those who are struggling financially, America’s economy would benefit from this as well. Doug Hall and David Cooper express how increasing the minimum wage would be a tool for modest job creation in the article “Raising the Minimum Wage Would Help Lower-Income Workers”. In the article “Is a $15 minimum wage economically feasible?” Jeannette Wick-Lims discusses how raising the minimum wage is good for the economy if we adapt to the changes accordingly. Elise Gould argues about how there is a strong statistical link between economic growth and falling poverty rates in her article “Increasing the
With this, unemployment started to go down. The money given to the American people through these jobs would allow them to buy more consumer goods, thus the companies making more money and paying their workers more. This deficit spending by FDR worked up until he decided to balance the budget. If FDR had decided to continue the deficit spending, America could have exited the Great Depression
There are some people that are totally against raising minimum wage because it can lead to losing jobs, but besides that it can make many people and families get out of debt. Because of this it would benefit many Americans if the minimum wage were to be increased. One reason the minimum wage should be increased is because it would allow people to get out of debt. According to a professor, Robert B. Rich “An increase of a couple dollars per hour… allowing them to exit
We’re able to give an opportunity at life that in certain ways, they cannot provide by themselves. It strengthens our economy and is essential for society to continue to function and progress. As it helps people to become more educated, the assistance provides a better variety/option for work. Welfare is definitely abused, but the positive effects it gives to our economy, strongly outweigh the negatives. Moreover, the chunk of money that is provided every day in paychecks for welfare may seen outrageous at points, but the costs that provides welfare uplifts our economy and outweighs the the extra charge we receive when purchasing something or receiving a pay check.
The second reason is because it is good for the economy. And last but not least, the third reason for raising the minimum wage is because it puts more money in the government for low income programs. The raising of the minimum wage helps poor families in different ways. First, it raises their standard of living. Low income families can afford to rent a better place like a nice apartment.
Washington State has one of the higher minimum wages. The minimum wage provides an opportunity to make some sort of salary to support an individual and their family. Without a minimum wage, companies would give unreasonable pay to save money for themselves. Jobs also promote the employees that work and contribute to the company. But some people may not earn enough for themselves and their family and America provides assistance for them.
This graph shows that so many people are getting the opportunity to live better lives. More and more people started getting jobs and making money so they can afford more things. After these new jobs, much more people could afford food and fresh water instead of nothing. Jobs at this time could be very dangerous along with the factories themselves, so that’s why reforms were made in order to make working conditions better and safer. Theodore Roosevelt said, “ The development of industrialism means that there must be an increase in the supervision exercised by the Government over business enterprise.” when industrialism grows, so do more laws.
When the sellers or the stores are in high demand and to make more than usually they need more people to work. By this more jobs are create and filled by many people. This is one way that it can help to lower the unemployment rate. When the unemployment goes down it helps the country to save money and pay off the debt they have. By paying off the debt and having less people on unemployment it helps the economy.
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.
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 Government should stay away from any kind of minimum wage policy. Raising the minimum wage might help the lower 20% of people of the nation