Business owners with lots of minimum-wage employees would undeniably see their costs skyrocket. Maybe they 'll compensate by raising the prices at the fast-food restaurant they own, which would hurt many poor and middle-class families who would ultimately pay higher prices at these restaurants. There is no free lunch — the money to pay for a big wage
This quotation reflects Warren’s cartoon by representing the symbols of the spike and the man being pierced; recalling that the spike in this picture is portrayed as the harm that will be caused to employees due to the hike in minimum wage, and the man representing minimum wage jobs. Russell explains how employment reduced once the wage was raised because restaurants were unable to pay all existing employees the new wage, so to be able to keep up with the wages, restaurants were forced to lay off employees to pay fewer amounts of workers. However, Russell continues to explain how the wage rose once again in July of 2016
For instance, when a company moves they must lay off hundreds, sometimes even thousands of employees. This raises unemployment in the US, while it raising employment in other countries such as, Vietnam, China, and Brazil. Now, of course, their are benefits to moving companies out of America. For instance, companies can lower their prices, and increase America’s products in the world market. Also,
Since the election and reelection of President Barack Obama the increase in minimum wage has been a major topic for the United States. His proposal to increase minimum wage has sparked a lot of controversy with some Americans. Many believing that increasing minimum wage will have a negative impact on our economy and even our educational system. They argue that increasing minimum wages will harm the very people it was intended to help because it will increase housing cost as well as the price of consumer goods. They argue that it will decrease the high school enrollment rates at the same time increase dropout rates.
Kennedy says in his news conference," If this rise in the cost of steel is imitated by the rest of the industry, instead of rescinded, it would increase the cost of homes, autos, appliances, and most other items for every American family. It would increase the cost of machinery and tools to every American businessman and farmer. It would seriously handicap our efforts to prevent an inflationary spiral from eating up the pensions of our older citizens, and our new gains in purchasing power"(line 23-31) This shows that when the decline of the companies it will seriously handicap the American people due to the large increase in prices. This is also shown in, "And it would surely handicap our efforts to induce other industries and unions adopt responsible price and wage policies"(line 43-45) This shows that it would seriously hurt Americans. Kennedy says more about how the prices are going to have a devastating increase in price, which is going to lead to competition in foreign markets as people are not going to buy our products if they are more expensive than other countries, this is shown in "how more efficiency and better prices could be obtained, reducing prices in this industry in recognition of lower costs, their unusually good labor contract, their foreign competition and their increase in production and profits
Fortunately, history, economics, and common sense prove the minimum wage raise proposition wrong. In cities like Seattle, Washington, the minimum wage raise has been adopted. Seattle 's local government intended to increase their unimpressive employment rates. The rates had been rising slowly over past years. Almost as soon as the minimum wage was raised to fifteen dollars, the once climbing employment rates faced immediate decline.
Everyone will see a piece of art differently and people will come to the terms that not every citizen will appreciate or have the same perspective on the sculpture that your are about to put in the center of town. According to an editorial Art for Art’s Sake: The case for government funding against art, the unemployment rate in the nation is high, which not only does other cities account for the increasing rate of unemployment but so does our very own. Therefore, using the city should be using their funds to help people’s lives transforming it for the good. I believe so because what good is a city if their aesthetics increases but the citizens lives slowly crumbles away from the lack of a job or even a home to live in. Furthermore, the editorial states that “Art is, by its very nature, expressive and controversial.
Dunkelberg states that raising the minimum wage could possibly destroy small businesses. If small businesses were to raise their minimum wage above ten dollars they will either have to fire some employees to make up the difference of the raise or they will have to raise the price of the product they are trying to sell. Just because the government were to increase the minimum wage does not mean you will get more work or better work out of the that individual so that business may need all of their employees. Because maybe they cannot afford to lose one so in return they would have to raise their prices, but the issue with that is maybe raising the price higher might just be enough to chase away customers to chain stores such as: Target, Walmart, or Kohl 's. That may mean their small business might close, just because they cannot financially support raising the minimum wage.
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.
01 Mar. 2016. The American Action Forum believes that raising the minimum wage can do more harm than good and hurt the people it’s supposed to help. Job loss in the millions would happen if the wage was raised from $7.25 to $15. People in poverty before the increase would have trouble finding jobs because companies would have to have less positions to counter the wage raise.