Bill Quigley’s Top Ten Arguments for Raising the Minimum Wage argues that since the impact is so negligible there should be no reason businesses can’t afford it. He also addresses the “free market” system stating it will not take care of the workers. He points out the special tax breaks for businesses and states that this is nothing compared to raising wages, but this has yet to be done. Overall they seem to all agree that the workforce should be paid more, but do not agree how this should be enforced or even encouraged. Quigley very clearly believes in a minimum wage hike, stating that businesses will not take care of the people.
It seems to me that most LAMC students support the minimum wage being raised. However, they are aware of the many downsides that come along with the increase. This leads me to believe that they want minimum wage workers to get better pay, their only hesitation is whether or not it would actually reduce employment or cause job loss. My conclusion is that the economy is not financially stable enough to increase the amount of every worker that gets paid minimum
This means the poor would make more money, the middle class would stay the same, and the rich would make less annually, therefore bringing income equality. Krugman suggests the United States should change to more socialistic society as he says unions are needed in the United States. Bringing more unions in the United States would create equal wage distribution and better job stability. Krugman is recommending a progressive policy similar to FDR’s New Deal package that was introduced before WWII. Krugman believes a policy like this “could reduce extreme inequalities in pay.” (602) A minimum wage increase would help the
Although there are many ways to look at minimum wage, such as the increase and decreases, and how it will affects today 's economy it has both negative and positive effects. I believe that the minimum wage has an overall negative impact because whenever the minimum wage is increased it only makes more people recede into poverty when it is supposed to do the reverse effect. Minimum wage was originally made for people just starting out or a pay for low-skilled employees. I believe that if people can 't afford the stuff they need because of a minimum wage, then they should work harder to either get a pay raise or move to a higher paying job. This would not only help our economy grow but help people out of debt and poverty.
When people think about raising the minimum wage most of them are excited because their check would have more cash, but, they don’t think about the bad effects that it will cause other employes. Minimum wage is the lowest daily or monthly remuneration that employers may legally pay to workers. In California raising the minimum wage has become a big argument between those who think raising would have more cons and those who think they have more pros. Despite the fact that people think raising up the minimum wage will help many people get out of poverty. I do not support raising the minimum wage, and the reason is as followed.
An issue that is hotly debated is whether or not the current minimum wage, which is $7.25 an hour, should be raised or kept the same. President Obama thinks that raising the minimum wage to $10.10 an hour would be a good idea, but others oppose the idea. Raising the minimum wage would not be a good idea for several reasons. Some people believe that raising the minimum wage could possibly do harm to the economy that is already recovering from the Great Recession, however, others say raising the minimum wage would boost the economy. According to the article “Should the Minimum Wage Be Raised”, raising the minimum wage could cause businesses to have to cut the hours of workers, fire them, or higher fewer of them in the future (Smith).
Open market is what keeps the world economy afloat. It favors some countries more than others in particular the US. Without it during the Terrible Surplus the US wouldn’t have survived such crisis. Speaking in regards to current time the slogan “Let’s bring the jobs back to America” is just an unrealistic assumption. As time progresses the minimum wage is increasing nationwide, so no matter what sort of incentive you give manufactures to stop outsourcing jobs, they will still face a high minimum age compare to what a person makes in Asia.
220) Ehrenreich is saying the more effort you put into a low-wage job, does not necessarily mean success in terms of a better job or a higher income. Ehrenreich’s argument disputes the idea that having more jobs is a benefactor even if you put in loads of effort. Many of the employers who look at your résumé and/or application will find it compelling—due to the job experience—to give employees a pay raise/a promotion to a better job that can have a bigger pay. Ehrenreich criticizes employers by stating, “Employers are of course behaving in an economically rational fashion: their business isn’t to make their employees more comfortable and secure but to maximize the bottom line.” (pg. 204) Ehrenreich judges how employers care about capitalizing a business/company more than ensuring the well-being of an employee.
The economy will raise as a whole when workers put their money back into the community. It helps boosts the recovering economy. The more wages increase for workers, also increases the amount of money they will have to spend as consumers. The more money the consumers will spend, the more revenue businesses are able to make, leading to higher marginal revenue and lower marginal costs, allowing for an increase in profits. This will permit the equilibrium price of any particular
Trickle down economics argues that the rich will stimulate the economy by distributing their wealth, and the advocates of raising minimum wage assume that the lower class citizens will distribute their wealth into the economy. Both these theories rely on one social group to help stimulate the economy. However, based on prior experience, trickle down economics did not work, it did not stimulate the economy, rather it just made one social class wealthier. So, by using the same logic, raising the minimum wage will not stimulate the economy; it will have the same effects of trickle down economics, but now just for a different social
With the workforce so disproportionally represented, these workers with the lowest paying job will greatly benefit from the change. In conclusion, a federal minimum wage increase will significantly improve the standard of living of low-wage workers. To meet their basic needs, workers must be given a living wage. It is not only morally correct to do so, but also beneficiary to both ends. The increase in wages allows for a more supportable income, but it also stimulates the economy.
Although raising their prices is an option it does not necessarily have to go in that route. Business can save money if they increase the wages because they would have less training to do meaning they spend less money on training new employees. Even if businesses raised their prices people would have more money so they could afford to buy the things at the higher prices and there is always the option of price controls to keep things from being too much. Then there is the motivation for advancement. This argument is reasonable in that some people would lack advancement but most would want better jobs as minimum wage paying jobs are not the most decent.
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
In the first chapter of Jonas Pontusson’s book Inequality and Prosperity: Social Europe vs Liberal America, he raises an important question regarding if we are caught in a situation in which governments can no longer do much to improve the economic prospect of low-income workers and their families. Although the answer to his question varies in different countries, it is clear that the U.S. government CAN improve the lives of low-income citizens, but it often neglects to do so. The United States is a capitalist driven country. However, its quest for economic prosperity has come at the expense of those unable to reach the standard income. As much as Ronald Reagan have proclaimed the U.S. as the poster-boy of democracy and economic prosperity, the reality today is that many people are still deprived from the “American dream.” Despite occasional turmoil, there is no denying that the U.S. government has done an amazing job maintaining its economy.