The minimum wage should be raised because the economy is healthy, some employers are already raising it for their workers, and many families cannot live on minimum wage. The minimum wage needs to be raised and now would be the best time to do it, due to the economy being healthy. But as some congress view it, the main concern is not on the raising of minimum wage, it is on health care and tax reforms. As of now three out of four Americans agree with raising the minimum wage. Statistics show the United States economy is expected to incline steadily over the next few years.
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 just few things that both people and companies want and that is to make money. Companies want to make a profit to survive and become stronger and grow. Then you have people or employees they just want to make money to provide for their families. The nations minimum wage right now is low and many people struggle to provide for their families, and then the companies they work for are getting richer and so are their leadership, but the employees are still low or at a minimum pay rate. Which side will win, many states and politicians want the higher minimum wage.
This is true because the people who were already poor, who were working for the money so they could afford things like homes, food, water, and clothing, were staying poor, because their pay was so low that at the rate of them using their money for necessities, they were earning barely enough to afford them. Whereas the people who were already rich, merely used their money to get even more money, and it would grow exponentially. They could have bought stocks or decided to invest in companies, but either way, they would have the money to do it, whereas the poor people would barely have the money to even live. Everything about these unfair conditions of working was true in both countries, in Russia and
In the story “The Upside of Income Inequality”, Gary S. Becker and Kevin M. Murphy effectively express’s the importance and need for income inequality in our society. Furthermore, Holly Ellyatt’s newspaper article Income Inequality: Is It Good For Everyone? serves to also point out that economic success and greater productivity is linked to “income inequality”. Although it may seem extremely unfair for someone to make up to two hundred and fifty times as much money as someone else, this notion of “income inequality” actually benefits the society as a whole by encouraging others to work much harder in life and better themselves and their education. For example, the increase of income inequality in the 1980’s greatly increased the education for both women and men and other races such as African Americans.
Working in these factories means more hours, low wages and terrible conditions. And most of the regulatory boards are controlled by money and none will interfere in this injustice. Some work 100 hours per week and receive only a cent per hour ? Would you be able to live your life with $1.25 per day? You my tell me that the minimum wage is strict but even when educated people like us are taken advantage then what is the condition of the poor people out there.
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
In this days it is customary for countries to set a minimum wage for the labor market, this is a minimum amount that the employer can pay to the worker, this is a bottom limit to set the salary of each employee. Governments set this minimum wage determining the minimum income a worker can perceive or which is the lowest amount a company can pay their workers, this in order to try to regulate the labor market so employees do not become underpaid or companies’ abuse workers from their dominant position. But this minimum wage also has downgrades, as it can foment underemployment, informality or unemployment since the minimum wage could be higher than companies are willing to pay as such it needed to consider alternatives. Nonetheless, although
Poverty creates workers in today 's economy because people in poverty are willing to work to gain money to support their needs and wants. Those who are better off in society aren 't as willing to do dangerous or dirty jobs. Their willingness to work to achieve what they want also gives them a higher sense of optimism when it comes to increasing their socioeconomic status in society. This makes “relatively lower-class individuals are more likely to engage in behaviors that actually promote economic mobility”. The functionalist believe that poverty is a necessity to society in that those that are qualified for jobs are given those jobs.