The Congressional Budget Office estimates that raising the minimum wage to $10.10 would boost earnings for around 16.5 million workers, while causing up to 1 million jobs to be eliminated. To me that’s not a great trade-off: according to CBO, the typical family living below the poverty line would see its annual income rise by only around $300, or about 2.8%. But for up to 1 million workers, their salaries would go to zero. Since most minimum wage workers receive a raise within one year anyway, eliminating jobs and cutting off from the first run on the ladder of job promotion seems too high a price to pay.
Too the amount of government assistance can decrease. The decrease in government assistance could mean that taxes across the board can be lowered. Considering that taxes are a huge problem in this country i think that the minimum wage increase can mean happier people across the board. People don 't realize the massive amount of money we spend a year on government assistance. On average we spend $3.7 Trillion a year due to government assistance.
America has over the past decades tried to eradicate poverty through public supported programs. Some have been more successful in providing assistance to poorest among us than others. To fight poverty the focus must move to the middle class to make clear to that their interest has more in common to help raise up the poor than enriching themselves thus giving up power to the top 1%. To illustrate in 2014 roughly 15% of the population, 46.7 million human beings, lives below the poverty line. That is an increase from 11% in 2000 according to US Census Bureau data.
He states by having so many of them taking up the low-skilled working jobs in America they are actually creating an increase in wage inequality. He states that by decreasing the numbers of low-skilled workers in America that it would actually reduce the wage inequality and strengthen the wages for people in those
Since the Great Depression, there has been a minimum wage in America, but this minimum wage has changed 22 times since the Great Deprnbession. Many people say minimum wage should stay at $7.25 like it has been since 2009. Meanwhile, other people believe that minimum wage should be $15.00 so they can have more money to live comfortably. People think that a higher minimum wage will help, but it will hurt more people than it will help. If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out.
Speech Body Existence of Problem: The minimum wage rate is causing higher levels of poverty and unemployment. Evidence of Problem Existence: On a article Michael Saltsman wrote that President Obama has discussed raising the minimum wage rate to $9.00 per hour. He believes that "a higher minimum wage can reduce poverty without reducing employment." On another article listed on The Washington Post Mike Konczal stated "Dube uses the latest in minimum-wage statistics and finds a negative relationship between the minimum wage and poverty. Specifically, raising the minimum wage 10 percent (say from $7.25 to near $8) would reduce the number of people living in poverty 2.4 percent."
(1) I can see how you would say “several presidents that fit into this category but I read about two in particular.” if you are talking about raising the National Debt. Reagan more than doubled the National Debt, from$997,853 million in 1981 to $2,602,337 million in 1988 and GW Bush also more than almost doubled the National Debt going from $5,807,463 million in 2001 to $ 10,024,724 in 2007. When it comes to a discussion about National Debt, would please explain (I know you most likely will not reply) how President Reagan’s approval rating has anything to do with the topic? This debt increase was very attributable to lowering taxes on the top 1%. Also please explain, if you will, how GW BUsh’s starting a war had anything to do with the National
This reform in food stamps would 1: Lower the spending on Food Stamps. 2: Make less people unemployed. In Kansas, they were spending 5.5 million dollars on Food Stamps. Now they are spending 1.2 million dollars. This reform in food stamps would get people off the streets and working.
The bottom 2% of Americas population has grown out of poverty since the minimum wage was increased around 2000-2003 (Wright 39). Some people think in order to solve homelessness America needs to take the overall money the government spends on programs that help the homeless and increase that budget, but America runs into the problem of
While this part of population think that the government will not save money when we kill people, I argue that by using the capital punishment, the government will save money; which can be used differently and in other fields. For instance, the money saved can be used to strengthen and armor the military service; which may lead to the decrease of crimes. A recent study made by LE MONDE estimates that the capital punishment costs 186 million dollars between 1979 and 2000. According to the report, a case resulting in a death penalty coasts 300 dollars, almost 5000 dollars less when the death penalty is not used. Thus we can see that a state can save almost 180 million dollars.
Continuing with the status quo will only cause more expenditures to be added causing a fall in our economy and tax increases for Americans, overall (Cicconi & Strug, 2010). However, on that same note a single-payer system would not be the most preferred option due to the fact that Regional Health Authorities (RHA) and Family Practitioner Committees (FPC) can just play hot potato with patients’ bills. The RHA is responsible for divvying out the budget to hospitals that are located in their area and outside of their area is the FPC with is responsible for remunerating general practitioners, dentists, and pharmacists. Thus patients that don’t fit into the borders of these guidelines get shifted around from the GP to the hospital, to the community, and then back to the hospital again. The government would be able to shift costs with a single payer system onto social security in the case of elderly patients often times sending them to nursing homes.
Reaganomics lowered taxes in order to induce economic growth (History Channel, 2009). He believed that lowering taxes would increase income levels, which would then increase profits from taxes. Reagan reduced income taxes by 30% for both individuals and corporations in over three years. Although the tax cuts had some setbacks at first, the economy began to recover by 1983. Unemployment and inflation rates decreased dramatically, and the economy continued to grow throughout Reagan’s time as President of the United States.
Argument against Minimum Wage Claim: Raising the minimum wage could lead to bigger problems. Support: The US would lose 500,000 jobs (Congressional Budget Office report, Economist and public policy experts ) Increased consumer prices, driven by companies offsetting increased labor cost (Econo-mist and public policy experts). A possibility higher minimum wage would attract more experience workers that would stay in a low paying wage longer, which makes young people and other people with lim-ited work experience not land entry-level jobs (Economist and public policy experts). Backing: Some think it will make skilled workers comfortable and stay where they are, and not want work their way up the pay grade. According to Allen Sanderson
But you do not have to lose half your college fund, or ruin America. If we educate people and put more funds into schools, we can beat income inequality and save ourselves. If we are to increase taxes on anybody, our economy will shatter. According to CNN money, Experts “examined what would happen to the gap between the wealthy and the poor if the U.S. raised the income tax rate on the highest
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.