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.
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
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
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
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.
Secondly, the working conditions are on the better side. For example, people have equal wages so they don’t get jealous or feel like they are making less than they should. In addition, they have trade unions to stick up for them. Lastly there is a vision of no classes which means no rich or poor people. For instance, the middle class or bourgeoisie runs the country because without them the industry or farms wouldn’t function.
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
To fix this issue, companies should look to hire more people who are jobless or of low income because it helps stimulate the socioeconomic paradigm in reducing levels of poverty, decreasing amounts of health risks, and strengthening the nation's overall democracy. Reducing the poverty levels in the U.S. will benefit the overall well being of the country’s economy. It's essential to have a good economy because that leads to the growth and production of a nation. Currently the U.S. has a steady economy, “The initial reading on third quarter growth was 3.0%. That marks the best growth since 2014 when the economy grew 5.2%” (Gillespie).
The second reason is because it is good for the economy. And last but not least, the third reason for raising the minimum wage is because it puts more money in the government for low income programs. The raising of the minimum wage helps poor families in different ways. First, it raises their standard of living. Low income families can afford to rent a better place like a nice apartment.
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.