Desiree Ripoll Professor Heuer ENC 1102 5/30/2017 Increasing the Minimum Wage is Good for America Raising the minimum wage is not only beneficial to those who are struggling financially, America’s economy would benefit from this as well. Doug Hall and David Cooper express how increasing the minimum wage would be a tool for modest job creation in the article “Raising the Minimum Wage Would Help Lower-Income Workers”. In the article “Is a $15 minimum wage economically feasible?” Jeannette Wick-Lims discusses how raising the minimum wage is good for the economy if we adapt to the changes accordingly. Elise Gould argues about how there is a strong statistical link between economic growth and falling poverty rates in her article “Increasing the
The cost of living is a difficult situation that many Americans across the country struggle with today. A heated debate that directly impacts the lives of all citizens is whether or not the price of minimum wage should be increased. Minimum wage is the standard amount of money earned for executing a basic skill job. Some people hold strong beliefs on why enlarging minimum wage is a major downfall, while others think this process is extremely beneficial. The following paragraphs will discuss the pros and cons surrounding both sides of this topic and the reasoning that births each one.
By raising minimum wage, the value of these training opportunities and incentive to earn more money goes out the door. Truth be told, it’s just life, and life isn’t always fair. By raising the minimum wage, it opens up the opportunity for less qualified employees to earn the same amount of money as the higher skilled workers. If an employer believes an employee is highly qualified, they will start their pay higher than the current minimum wage. Some may beg to differ and say that if the company is small or big should be taken into considerations and that is actually Another reason the government should not raise minimum wage, because the size of companies varies.
This increase, even if completely spent (which is doubtful), would not be very significant. Therefore, in my view, the economic benefit “argument” is a red herring. What should a worker be paid? But what happens when minimum wage is raised? The Congressional Budget Office (CBO) released a new report on the impacts of raising the minimum wage to $10.10 an hour and $9 an hour.
By increasing minimum wage, America would be hurting its people, not helping them. Therefore, raising the minimum wage is not a smart move for America. Increasing the minimum wage would hurt the jobs of America profoundly. First of all, if one looks at it logically, increasing minimum wage increases the
$15 an hour sounds great to almost everybody, but most people don’t realize that if we all made $15 an hour it wouldn’t be as great as it sounds.The federal minimum wage should not be raised and should be kept at $7.25 because its negative effects on people 's income, inflation of prices due to a domino effect and the loss of jobs in mass numbers. There is no reason to raise the minimum wage in the first place, one of the claims I have heard from you is the ”reduction of poverty.” The problem with this claim is that the majority of poor Americans do not work at all, for any wage, so raising the minimum wage does not help them. It is like giving extra milk to a lactose intolerant person, it has no effects and only takes milk away from the rest
There should not be an increase in minimum wage because it is unhealthy to the economy in the long run and it will be the major cause of job loss, increase in inflation, competition, and the price level of goods and services. Many argue that an increase in minimum wage will help guide low skilled workers out of poverty and assist them into having a better career. That is not necessarily true, Many economists can agree that minimum wage jobs such as cashiers, host or a hostess are not jobs that meant to support a family. If anything by raising the minimum wage, it will put more people in poverty than guide them out of poverty. A raise in minimum wage will cause loss of jobs, an increase in the inflation rate, increase in
Two thirds of the US support higher taxes on the wealthy and a higher minimum wage as ways to narrow the wealth gap. The upper class have enough money to pay as much as they tax the lower and middle class. Poor people pay more taxes so the more they pay, the poorer they get. Corporations are getting bigger
With that said why is not the minimum wage increase? Minimum wage has not been increased any more than it is because many people are concerned as to what an increase in minimum wage will do to our economy. If the minimum wage was set at a higher dollar amount it could increase wages for millions. One concern with increasing the minimum wage is that people believe that if the minimum wage is increased others will lose their job in order for employers to pay the new minimum wage. People believe their jobs will soon be replaced with robots.
The possible downside is as well believed to be that a minimum wage that is higher may discourage possible employers from adopting the services of the “low wage low skilled workers” who are to be assisted by the minimum wages. If the minimum wages are found to be reducing the employment of the workers with low skills, then they are not a “free lunch” as perceived and better wages will help the crime rate be at a