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
A minimum wage increase from “$7.25 to $10.10 would result in a loss of 500,000 jobs”. ("The Effects of Minimum-Wage Increase on Employment and Family Income”) This claim is better because it shows how raising the minimum wage will decrease job growth instead of increasing it. But, the minimum wage should be increased because increasing will also increase economic activity and spur job growth, decrease poverty, and improvements in productivity and economic growth have outpaced increases in the minimum
Should government raise minimum wage? Minimum wage is set at $7.25 an hour, and if minimum wage was raised to $15 an hour such as in California, California 's law will affect both a much larger number of people, and a much more diverse population of workers than any other measure to date. A few reasons why raising minimum wage is a bad idea is because current employees who get paid the minimum wage would be obligated to do more work. To keep labor costs low, these employees would have to take on additional duties and responsibilities to make up the difference in hours available. Since more people would be willing to work for more pay, the current workers would be likely replaced by higher quality workers or automated systems.
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.
Is it ethical to raise the minimum wage when it doesn’t necessarily affect the very poor, the people it’s aimed at helping? The minimum wage is the lowest hourly wage an employer is permitted by law to pay an employee for his work. The current federal minimum wage is set at $7.25 an hour. Across the country, there is an overwhelming push in favor of raising wages for our poorest workers. In January 2016 the minimum wage in California was raised to $10 an hour.
When the minimum wage increases, business owners will have reduced profit, sales will fall off, and prices will raise. Eventually, the owner will not get any profit because the store will get $10 off sales but the worker demands $15 and the worker will have to be fired. A high minimum wage sounds like a great idea in the free market, but it seems like a joke. Customers will not agree to pay more on a product just because the business has to pay the worker more and they will lose a profit they really cannot afford to
Currently, many workers are unable to afford the cost of basic necessities, such as housing, food, and transportation. By raising the minimum wage, these workers would have more disposable income to cover these costs, allowing them to live more comfortably. This would reduce the financial burden on those making the minimum wage, allowing them to save more and invest in their future. Additionally, raising the minimum wage would create more jobs, as businesses would need to hire more workers to keep up with the increased demand. This would lead to a decrease in unemployment, resulting in a decrease in the cost of living due to increased competition in the job market.
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.
According to William Dunkelberg, a writer for Forbes magazine, by raising minimum wage there could become less jobs than before. Though the people who have jobs would be making more money, smaller companies wouldn’t be able to pay for their employee’s, and would have to let people go. “Small businesses stay in business
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.
Minimum wage should not be raised because it is not an income that someone sold live off of. Minimum wage in the country is currently $7.25 but some states have changed it in a way that is way too much. For example Washington state currently has the highest minimum wage at $9.32 that’s a $2.07 increase to the current amount minimum wage. Seattle is currently considering to raise their minimum wage to $15 it’s understandable that the city is very large and things cost more money but if they raise minimum wage to $15 that will only bring inflation causing things to cost only more money than it already does. If there is one thing that should not be done to the country it is to cause inflation.
Giving these points, minimum wage should be increase because is going to end poverty by sustaining families and by helping college kids with their loans. This is going to change the lives of people who right now are struggling, are struggling to feed their children, they are struggling with their loans or personal needs. All this can change, poverty should end, and college students will continue pursuing their dreams. So, take action on what you believe is right, and what’s right is being a helping hand in this
America today is faced with its fair share of problems. There are low employment rates, debt, and inflation everywhere, riddling the economy with issues. There is absolutely no reason that any American citizen should want to pile upon the problem. Yet, some believe that it could be done by raising the federal minimum wage to fifteen dollars an hour. Fortunately, history, economics, and common sense prove the minimum wage raise proposition wrong.
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