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
The document reasons that if the amount of money employees earn is expanded, companies will be less likely to hire as many workers (Huppke). This causes job loss for future laborers. Businesses will not be able to financially employ as many individuals, thus, increasing the nation’s overall unemployment rate. Some employers find a means around decreasing the number of employees by limiting the amount of hours each individual can work (“Economists argue about minimum wage”). A second argument in the minimum wage war focuses around the concept of inflation.
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."
Small Businesses could go out of business if we raised the minimum wage to a higher price. This is a widely debated subject of money, income, and the effect raising the minimum wage can have on businesses and the economy. Currently, the federal minimum wage is seven dollars and twenty-five cents and have been established that way since 2009. It has been said minimum wage should be increased to accommodate living expenses and travel time to places of work. The problem with raising minimum wage , that many people do not realize, is how it affects big and small businesses.
If welfare is removed from the American country, then this statistic would grow catastrophically year by year. If welfare is continued in today’s society, it could cheat several working Americans out of their deserving payment for going to their occupations and doing what is expected of them. But there
Maybe it does not effect them directly, or they consider it "just a few people losing their jobs." What do these dropping rates show for themselves? According to economists from the American Action Foundation, raising the minimum wage just one dollar caused 747,700 people to lose their jobs. That is just considering the adults. Teenagers from ages sixteen to nineteen also make up roughly 25% of the workforce.
In the article “A $15-Hour Minimum Wage Could Harm America’s Poorest Workers”, Harry J. Holzer outlines the effects of a fifteen dollar federal minimum wage. He interprets statistical data from different credible analyses and thoroughly explains the meaning of each. The author also does a great job informing us the results from past federal minimum wage increases. He recognizes that jobs will inescapably be lost; therefore, many people will be unemployed. 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.
Do you think Target should raise the minimum wage to $15? I think Target should go ahead with this idea because homes nowadays are very expensive to live in and people need to at least somewhere they can go home to do what your body needs on a regular basis. Many people that are working little jobs like this have to work at least two jobs to not struggle. In an article by Anne D’innocenzio she said “Thousands of workers have protested to call attention to their financial struggles and fight for $15 an hour”. This would help many people to stick with one job so for those single parents that work two jobs they would only have to work one job and not stress about being in their child’s life.
If minimum wage is increased the more money the typical american will have on spending money and they will have more money to put into businesses across the country. In a study performed in 2011 by Chicago Federal Reserve Bank it showed that every dollar added to a person 's minimum wage they spent $2800 more in additional consumer spending. Workers who earn more than minimum wage will also see increases in their salaries. This is because minimum wage is seen as the base number from which their wages are calculated so if the base number is raised their salaries will be arranged. The opposing arguments about raising minimum wage is the increase will force a strain on companies and force them to slash jobs.
The Social Security Administration stated that illegal immigrants that are ineligible to receive Social Security benefits, paid $100 billion into Social Security funding over the previous decade. “They are paying an estimated $15 billion a year into Social Security with no intention of ever collecting benefits” (Stephen Goss). Immigrants have had a major impact in Social Security. Without their contributions, Social Security would not have been able to cover many of their payouts. By 2037 the Social Security Board of Trustees will no longer be able to pay benefits in full to people, without the contributions immigrants put into Social
Since the election and reelection of President Barack Obama the increase in minimum wage has been a major topic for the United States. His proposal to increase minimum wage has sparked a lot of controversy with some Americans. Many believing that increasing minimum wage will have a negative impact on our economy and even our educational system. They argue that increasing minimum wages will harm the very people it was intended to help because it will increase housing cost as well as the price of consumer goods. They argue that it will decrease the high school enrollment rates at the same time increase dropout rates.
Even if you were to get payed a higher minimum wage, raising the wage will also raise other expenses in America. That would still leave the ‘poor’ in the same situation that they are in. Raising minimum wage would also cause other families to go in debt, because if they are making a constant amount of income and taxes increases or their bills become higher because of the increase they will lose money causing them to become
Should the Federal Minimum Wage be Increased? Have you ever thought that you wanted a raise at work but did not have reasons? In this essay you can give your boss these reasons and get more money. The minimum wage in 2012 was $7.25. The minimum wage is a large-scale reason of poverty.
The reason people would losses their jobs the first 25-cent minimum wage in 1938 resulted in significant job losses. This is because they could not afford to have as many employees. Minimum wage increases recently imposed in American Samoa resulted in economic effects so pronounced that President Obama signed into law a bill postponing them. In 2010, Joseph Sabia and Richard Burkhauser estimated: “nearly 1.3 million jobs will be lost if the federal minimum
Higher wages would make small business go out of business because they would need to pay the workers more, when they might not be making a lot of money because they are already a small business. They would also be losing tons of money by paying workers more than what they already make. Side 2 Argument 3. In cities such as Los Angeles with a limited housing supply, raising the minimum wage but not increasing housing stock would lead to an increase in rental prices as "700,000 minimum wage workers will have more money to compete for the same low inventory of rental units," according to researchers from the University of California in Los Angeles. The cost of things will go up, the houses would cost more so it would feel like if they never got paid