“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.
One major pro would be reducing inflation. With the minimum wage only increasing three times over the last three decades the minimum wage is due for an increase. However, with the increase of minimum wage might come with an increase of everything else thus making the increase meaningless and make a call for a new increase and creating a viscous cycle. Holtz-Eakin, Douglas, and Ben Gitis. "The Employment and Income Effects of Raising America 's Minimum Wage to $12 and to $15 per Hour."
How the Roaring 20’s created the American Dream and how it’s no longer achievable. Paragraph one with be about how the American dream has become no longer achievable with a source to help prove the point.“The labor turmoil and difficulties of the transition back to peacetime production caused a short but sharp recession from 1920 to '21, with unemployment briefly exceeding 11%.However, the situation soon turned around, thanks in no small part to Commerce Secretary—and future President—Herbert Hoover's success in convincing major industrial leaders to voluntarily increase wages and production in order to pull the entire economy out of its slump. By 1922, the economy was growing robustly, a pattern it would follow more or less continuously until the Great Crash of 1929.” (Shmoop) As time progress I need to make the point that the economy changes creating divides between economic classes. To show that my claim is valid. The second paragraph is to complete my idea of the change of economy with a source to make it a stronger argument.
This would make it where people wouldn 't have to live paycheck to paycheck. Raising the wage slightly would also make it so the price of goods wouldn 't have to be raised.The Economic Policy Institute stated that a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion net into the economy and create about 85,000 new jobs over a three-year phase-in period. This raise increase would be easy to implement and would help the economy. By implementing this new minimum wage many problems in America can be solved. There is a clear solution to wealth inequality in America, and it is increasing minimum wage so the lower classes can gain wealth .The uneven distribution of wealth and the low wages are the main problems in America and raising wages is the solution.Wealth inequality is the root of all problems in America.
One of the most frequently asked questions in our country seems to be will minimum wage being raised or lowered affect poverty. Poverty has struck many people in the United States across the nation. With this occurring in our country poverty will continue to affect millions of Americans each year. The federal minimum wage ought to be raised because it would fortify the economy and enable Americans to out of poverty. Increasing minimum wage will make workers more financially stable, if the wage doesn’t increase it will be harder for people to make a living.
Therefore raising the minimum wage would be benefit. There is a distinct decision that America should make on raising the minimum wage. Raising the minimum wage would get millions and millions of people out of debt and let them live a good life. Also raising the minimum wage would definitely boost the economy of our great nation. Because of these reasons, it is clear that the minimum wage should definitely be increased.
Speech Body Existence of Problem: The minimum wage rate is causing higher levels of poverty and unemployment. Evidence of Problem Existence: On a article Michael Saltsman wrote that President Obama has discussed raising the minimum wage rate to $9.00 per hour. He believes that "a higher minimum wage can reduce poverty without reducing employment." On another article listed on The Washington Post Mike Konczal stated "Dube uses the latest in minimum-wage statistics and finds a negative relationship between the minimum wage and poverty. 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."
If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out. If America raises the minimum wage to $9.00, it will help people in need or in poverty, but it also won’t hurt people in the workforce. If you increase the minimum wage to $15.00 it will make unemployment rates go high up. Which in the process, makes the homelessness rates go up in the country and in your community. If you keep the minimum wage at $7.25 people will stay in poverty and homeless or on the verge of homelessness.
college tuition should be paid for because, if the United States had more and more students going to college instead of going straight to jobs the economy would improve greatly. A vast majority of those who graduate from college would be getting higher paying jobs than if they hadn 't gone at all, which in the long run gives them more money to spend and therefore increases tax revenues. The increased tax revenues would enable the government to provide services to the constituents. Having more money go into the economy will help money go towards funding college however they would choose to deal with splitting the costs. This would also help small businesses because if they have more revenue coming in that can be used to grow their small business bigger.
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.
While some citizens believe that a $15 raise will help the economy, the author comprehends the negative consequences of any federal minimum wage increase on the economy. Holzer also defends the idea of a massive increase on in not only unemployment rates, but common household items, as well.