Minimum wage is a highly debated topic. Should the minimum wage be raised or should it stay the same? When there are 25 million people who would benefit from increasing minimum wage, why does the question so difficult to answer (Quinn, Castle, LaTourette, Morella)? When an answer can affect how people live their lives the answer should become easier to answer. Yet we have to think about what the outcome would be to each scenario.
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
Many of the minimum wage workers who had been functioning in poverty would still be functioning in poverty because the cost of living would be elevated too. In the past when the national minimum wage was raised there was virtually no effect to people living in poverty. Some people might say that the talk about higher minimum wage is sparking hope in the workers. If a worker has a chance to earn more wages then they will work better so that they do get that raise; however, more people will lose their jobs because not as many people will get to work if others are making higher wages.
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
Fighting Poverty Poverty has caused depression, starvation, and disease. Would raising minimum wages help eliminate this cause of American deaths? Minimum wage is the least amount of money someone can receive for their labor. Facts from research show that it is possible to decrease the amount of people in poverty by raising minimum wage, however, raising minimum wage without raising inflation would hurt businesses because they would be losing money. Instead of raising the amount workers get paid, the government could limit to how much the wealthy man can earn.
A recent study involving three hundred fifty thousand small businesses and the IRS proved that by raising the minimum wage, proved that by raising the minimum wage in cities, actually created jobs (Meyerson A.19). The survey showed that the cities with a higher minimum wage had more jobs come to the area, aiding in job growth (Meyerson A.19). Another argument that leans toward the raising of the minimum wage involves people in poverty. Studies have shown that by raising the minimum wage, more people can live above the poverty line (Meyerson A.19). By raising the minimum over nine hundred thousand people would be
When the minimum wage is raised, workers are priced out of the market and many of them lose their jobs. The U.S should not raise the minimum wage because there would be a major loss in jobs which would be very hard for the unemployed to maintain their
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.
Minimum wage would raise the wages of many workers and increment benefits what disadvantaged workers. An estimated 6.9 million workers would receive an incrementation in their hourly wage if the minimum rage were raised to $10.15 by 2015. Due to the spill over effect the 10.5 million workers earning up to a dollar above minimum wage would withal be liable to benefit from an incrementation. Women are the most astronomically immense group of beneficiaries from a minimum wage increase. Sixty percent of workers who would benefit from an incrementation are women.
First, one main reason that the minimum wage should be raised is because the economy will prosper. “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” (ProCon). This quote shows that the economy will flourish from the increase of the minimum wage and that unemployment will decrease. Another quote that shows how raising the minimum wage will affect employment is “To the extent that through these contour effects it affords as much as 70 percent of the workforce greater purchasing power, it effectively increases aggregate demand for goods and services, which should ultimately lead to the creation of more jobs” (Challenger 19). Bryan Covert supports raising the minimum wage by
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
Workers across the United States wish to raise the minimum wage to ten dollars. Minimum wage should not be increased because people who work at fast food restaurants should not get paid as much as someone who workers harder than they do and it would not be a benefit to the people of the United States. Minimum wage means you get paid the minimum you can receive for working every hour, why wouldn’t an individual want to get paid at the maximum limit they could earn instead? Employees who would like to get a higher income need to get a more professional job. There are plenty of fast food restaurants in every state and they are always hiring full-time and part-time jobs, but shouldn’t adults work somewhere with more benefits, such as a hospital or a school?
Raising the minimum wage will cause prices of goods, accessories , and needs to rise as well. As my first source says “A 2013 article by the Federal Reserve Bank of Chicago stated that if the minimum wage is increased, fast-food restaurants would pass on almost 100% of their
Many argue that an increase in minimum wage will help guide low skilled workers out of poverty and assist them into having a better career. That is not necessarily true, Many economists can agree that minimum wage jobs such as cashiers, host or a hostess are not jobs that meant to support a family. If anything by raising the minimum wage, it will put more people in poverty than guide them out of poverty. A raise in minimum wage will cause loss of jobs, an increase in the inflation rate, increase in
For instance, from the article “The effects of minimum wage” by David Neumark states that employers will try to keep away from low-skilled workers if the wage were to increase because it would cause them to be wasting money to train them; especially for students and high school graduates who are in absence of any work experience. With minimum wage increasing for the past couple of years it makes it difficult on employers who run small businesses to hire more new workers because they too are also citizens that have to pay their taxes and extra just to keep their business up and running. Such as the author Gina Kim who wrote the article “Minimum wage: helpful or harmful for small businesses” states that 85% of small businesses pay workers a bit more than the minimum to keep their workers interested in the job and they have to make profits out of their business to keep it on track. These businesses cannot innovate if the wage increases because then the labor market will pick up the prices on materials as well creating more of a problem for small business owners to keeping their company open for as long as possible and their solution would be to not hire a lot of employees. This pretty much explains the reasoning about how it will be troublesome for new fresh workers trying to just gain experience and get hard earned