Yes prices may increase but they will not increase enough to have a negative effect on our economy. Also, jobs will not be replaced with robots because employers have to pay a few more dollars and hour for a worker. An increase in the minimum wage rate can and will help our economy
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
Which leads to the rebuttal of the argumentative piece, “Curiously, most members of Congress who take a hard line on immigration also strongly oppose increasing the minimum wage, claiming it will hurt businesses and reduce jobs” (Dukakis & Mitchell, 2006). Nonetheless the authors have an exception to this rebuttal, that is if “We want to reduce illegal immigration, it makes sense to reduce the abundance of extremely low-paying jobs that fuels it. If we raise the minimum wage, it’s possible some low- end jobs may be lost; but more Americans would also be willing to work in such jobs, thereby denying them to people who aren’t supposed to be here in the first place” Assuming that most american citizens are going to work, they would take up all the jobs provided out there, assuming that the minimum wage went up and they would be payed better (Dukakis & Mitchell,
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
Dunkelberg states that raising the minimum wage could possibly destroy small businesses. If small businesses were to raise their minimum wage above ten dollars they will either have to fire some employees to make up the difference of the raise or they will have to raise the price of the product they are trying to sell. Just because the government were to increase the minimum wage does not mean you will get more work or better work out of the that individual so that business may need all of their employees. Because maybe they cannot afford to lose one so in return they would have to raise their prices, but the issue with that is maybe raising the price higher might just be enough to chase away customers to chain stores such as: Target, Walmart, or Kohl 's. That may mean their small business might close, just because they cannot financially support raising the minimum wage.
Present welfare systems are frequently criticised because it provides such a high level of benefits and this discourages individuals to work. In certain countries social benefits could even amount to a higher level than the minimum salary, which frequently causes individuals to be worse off financially, at least in the short-term. In comparison, the UBI could reduce or even eliminate the bias against work, since it does not penalise individuals for earning additional revenues. A great example are single mothers who live just above the poverty line, but if she were to marry a husband with income, it could push the family over the threshold and would not receive any social benefits. A guaranteed minimum revenue would solve this problem and wouldn’t actually demotivate single women to find a job or
However, as people always do, some manage to find their way around this problem and sell their debit cards for 50 cents on the dollar for cash (Roskin et al, 273). So how much of our taxes do these food stamp “traffickers” (USDA) rob us of? In 2012, approximately $80 billion was poured into the SNAP (Burke) and according to the USDA, a little over one percent of food stamp funds is misused. This sounds insignificant but that comes out to 800 million of taxpayer dollars. Hardly a trifle amount.
All of these questions are heavily debated, and many people have different points of views Minimum wage can have both positive and negative effects. The positives are that people who do not get a job that gives them a living wage can get enough money to provide for them and their families and no one could be underpaid. The negatives of minimum wage is when it increases, increases unemployment, it is not supposed to be a living wage, and it goes against free trade. The first downfall of minimum wage is that it increases unemployment significantly. In an article by National Review writer Tim Kane, “It is Time to End the Federal Minimum Wage,” he gives some statistics regarding this topic.
Minimum Wage Low-skilled workers are steadily pressing to raise the minimum wage, but this would be a disastrous idea. There are many people giving input on why the pay should be raised and saying they cannot live on such a low wage, but the minimum wage is not for someone 's career, it is for people with low skills to get eased into the workforce like teenagers. They do not realize how detrimental a hike in the minimum wage would be on them in the long haul. The people need to be informed on what they are asking for before they get an even worse outcome than before. The people who make minimum wage very clearly express their theory that higher pay will benefit them and show many valid points on why it should be increased.
After bills and rent are paid for, people are left with nothing or next to nothing. Over time inflation will cause it to become harder to live because prices on everything will keep rising. When the minimum wage isn’t raised to compensate for inflation then people become stuck and are unable to move up in society because they have to pay more in order to live. If it costs more to live then minimum wage jobs become useless to move up in society because people are unable save money. Thus, minimum wage jobs will not help people move up in society and will continue to increase they wealth inequality between the rich and the