How To Increase The Minimum Wage Essay

Raising the minimum wage has been one of the biggest debates during the 21st century. One side of the spectrum argues that raising it will make it so they have a living wage, while the other argues that raising it will hurt the economy. Whichever the case is, people are clearly divided on this issue. Before Oregon passed the 15 dollar minimum wage law, people wrote arguments to try to either prevent or pass this law. The article, “How a $15 minimum wage would affect a real business: Guest opinion” by Lee Spector argues that raising the minimum wage would hurt small businesses like the one he earns. “People don’t go to college to earn a $9.10 minimum wage: Guest opinion” by Justin Norton-Kertson is an article that argues against Lee Spector’s article. Although both

Low-wage workers and other employees support a raise in minimum wage. An article by Barbara Mantel states, “Supporters of an increase say raising the minimum would cause minimal job loss while putting money into the hands of low-wage workers who would spend it, boosting the economy.”(Mantel, Barbara) The money a business pays an employee may be going back into the economy, however, the money doesn’t necessarily go back to the business. Businesses need a profit to pay for their supplies and necessities within their building, however, raising minimum wage will decrease that business’s profit, therefore, limiting them to how much supplies they can use. Minimum wage increasing will have a negative impact on the

More numbers of state are joining to take action to raise the minimum wage to $15 per hour in a few years even though there is a high disputing controversial all over the nation. The federal has set the minimum wage level to $7.25 on Jan. 1, 2015. In less than a year the index number of the minimum wage is going up automatically with cost of living. And eventually it will be likely to increase year by year with automatic and expectation index. Is it really a good thing to raise the minimum wage to meet the basic need for poor people? Is it the best way to prevent poverty rate and income inequality? Answers must vary from skeptical to comprehensive response depending on whoever answers these questions. Amid a debate on this

The federal minimum wage has been increased twenty-two times since President Franklin Delano Roosevelt signed the bill into law in 1938. President Roosevelt was an avid supporter of a federal minimum wage as he says that “no business which depends for existence on paying less than living wages to its workers has any right to continue in this country.” Raising the federal minimum wage has many pros and cons, but is a necessity to thrive in society. People have argued that raising the minimum wage will cause inflation, but it will create various economical benefits, income benefits, production benefits, and improve racial justice.

Increasing the minimum wage would cause economic strain in many ways to workers already living in poverty. According to James Sherk’s article: ‘Raising the Minimum Wage Will Not Reduce Poverty’, raising minimum wage to seven dollars and twenty five cents would cause an estimated eight percent of current workers to lose their jobs. Another statistic suggests that if it were raised by ten percent, the minimum wage would reduce employment by two percent (Sherk). In addition to this financial problem, those workers whose wages are increased will not be able to work for the same number of hours as before the raise. Neumark, an economist at the University of California explains that workers who already earn near the minimum wage will be affected positively; he suggests that “net adverse consequences for low-wage workers” will begin to occur. Raising minimum wage may help some workers, but the majority may be

Increases in job growth and economic activity will happen when the minimum wage is elevated. If the minimum wage was increased it will “inject 22.1 billion net into the economy and create about 85,000 new jobs over a three year period”. (“Raising the Federal minimum Wage to $10.10 Would Lift Wages for Millions and Provide a Modest Economic Boost") Thousands of new jobs will be created and it will put billions of dollars into the economy. Increasing the minimum wage only does positive growth because “...authors found little or no evidence of a negative association between minimum wages or employment”. ("How Does a Federal minimum Wage Hike Affect Aggregate Household Spending?”) Increasing the minimum wage will only cause positive growth in a topic of employment. Raising the

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.

According to William Dunkelberg, a writer for Forbes magazine, by raising minimum wage there could become less jobs than before. Though the people who have jobs would be making more money, smaller companies wouldn’t be able to pay for their employee’s, and would have to let people go. “Small businesses stay in business

One of the greatest effects of a $15 an hour minimum wage would be its impact on

Income plays a big role in creating a society that is capable of doing many great things. In the recent years political issues in the states about worker pay has increased tremendously. This national problem has been good for presidential candidates as they can use this to boost their popularity. Some states are already taking action, 13 states plus DC have already increased minimum wage. In New York fast food workers pay was a approved to $15 (minimum wage). Many other states across the U.S. Are pushing to get a $15 improvement for minimum wage. Although there seems to be a gender gap in compensation many bills make it so there is equivalent pay for the work that everyone does. The bills help strengthen the laws that require equal pay already. Paid family laws are getting more attention. Lower-income families are benefiting from this especially minority women. Many of

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. 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

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.

There are a lot of potential benefits for an increase in minimum wage and on the surface it’s hard to see why you wouldn’t want to increase the wage. One of the clearest to see is that an increase to the minimum wage will also increase the spending for each household during the following years. So it works to help stimulate the economy in whatever area you increase the minimum wage. Along those same lines increasing the minimum wage will lead to a decrease in poverty as well. With the decrease in poverty you will also see a decrease in government spending on welfare items because the individuals receiving the higher wage in theory will be able to pay for these services/welfare items without assistance. Another potential benefit of an increased

In the past three years, many politicians and labor unions have been pushing for an increase in minimum wage. Minimum wage is the lowest set wage by a law of a government body. An increase in minimum will benefit some people, and hurt others. An increase in minimum wage will cause benefit in the short run but will be very damaging to the economy in the long run. There should not be an increase in minimum wage because it is unhealthy to the economy in the long run and it will be the major cause of job loss, increase in inflation, competition, and the price level of goods and services.

Going along with the positive economic growth is the idea that if minimum wage is increased, and these workers turn around and spend this additional income, sales will increase to the point that businesses will need to employ extra workers. In other words, increasing the wages for minimum wage positions will create more minimum wage