Pros And Cons Of Raising The Minimum Wage

One major pro would be reducing inflation. With the minimum wage only increasing three times over the last three decades the minimum wage is due for an increase. However, with the increase of minimum wage might come with an increase of everything else thus making the increase meaningless and make a call for a new increase and creating a viscous cycle. Holtz-Eakin, Douglas, and Ben Gitis. "The Employment and Income Effects of Raising America 's Minimum Wage to $12 and to $15 per Hour."

With the increase in living costs, people are demanding that they receive a higher minimum pay to cover these expenses. In his article “Millennial Thoughts: Minimum wage and my take,” Will Perkins offers his opinion on minimum wage. There are many sides to the debate of whether to increase or not to increase minimum wage. Perkins, in his article “Millennial Thoughts: Minimum wage and my take,” discusses the controversial issue of raising minimum wage. He emphasizes that people who work full-time should “earn a livable wage.” In addition, he feels that it should not matter where you work, as long as you are providing people with a productive service, your hourly pay should be increased to where you can live reasonably.

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."

He also outlined a plan to create the capital required to kick start a prosperous economy and introduced government tariffs, subsidies, and awards to encourage American Manufacturing. According to John Steele, Alexander Hamilton can take all the credit for creating an economy that went on to become one of the strongest in the world. This article discusses essential information that support my point of view. Many points in history have lead to this. In this paper I will be discussing why I believe Alexander Hamilton to be an economic genius.

Currently, the federal minimum wage is $7.25 an hour, but there is a proposal of raising the minimum wage to $15 dollars an hour (Sessions). Many people are with or against the raise of minimum wage, should the United States of America raise the minimum wage? Opponents say that raising the federal minimum wage would would increase the amount jobs created, and also increase economic activity. The economic institute states that increasing the current federal minimum wage of $7.25 to $10.10 would create approximately 85,000 jobs and add $22.1 billion net into the economy (David). Business analysts and financial experts from the Federal Reserve Bank of Chicago concluded that by increasing the federal minimum wage would also increase accumulated household spending by $48 billion through the year boosting job growth and boosting GDP, short for gross domestic product.

The act established a maximum amount of working hours for any employee and a minimum wage. Many of Roosevelt's deals were meant with success, but it is important to note that some were declared unconstitutional at later dates. The AAA was one of such acts declared unconstitutional in 1936, however, it was rewritten and implanted again at a later date ("The New Deal", n.d.). Roosevelt actually faced a large amount of resistance when trying to pass his new deals. During one of his terms, Roosevelt announced a controversial plan to expand the supreme court.

Many people consider this victory enough to win Lincoln the title of the strongest U.S President, but i'd have to disagree. Yes, Lincoln did lead us Americans through the most bloodiest and costliest wars in history(the great emancipator, paragraph 6), which easily could have torn the Nation to shreds and left us with nothing, but he also ended slavery in america, and developed the Emancipation Proclimation, even after the death of Lincoln he still had great impact on the country, because his effort lead to the 13th, 14th, and 15th ammendments. (the great emancpator paragraph 7) i'm not saying that Lincoln was not a wonderful president who impacted our country immensely, i am just saying that I believe that Thomas Jefferson takes the crown as the strongest U.S

FDR is not the only person to be an advocate for the termination of desolation. Adolf Hitler had a role to play in ending the Great Depression. As In an effort to protect their money, many Europeans began to invest in US stocks and bonds. This allowed the US to make money without spending money, as more money entered the US without having to print more bills. American businesses were inspired to begin investing again, allowing for more money and jobs in the US.

World population has been increased significantly, while Earth resources are limited and food sources are in danger. In this regard scholars predicted that world’s population would be reached around 10 billion by 2050 and certainly food requirement would be increased more than 70% (Dyson, 2016).These statistical data imply that food sources are increased arithmetically, while population are enhanced geometrically, whereas there should be a balance between population and food supply (Brownell, 2008).To overcome food shortage, some attempts have been done around half century ago which led to green revolution. This paper, aims to have a look on this phenomenon, introduce it and assess pros and cons of it. In this essay, initially, we have a quick look on nature and evolution of green revolution. Secondly, pros and cons of this phenomenon would be discussed and then more holistic solutions for improving this process would be introduced as a real green revolution.

“The minimum wage is currently more than 25% below its real value in the late 1960. The Congressional Budget Office (CBO) reports that the Harkin-Miller bill to raise the minimum wage to $10.10 would cumulatively boost incomes of people below the federal poverty line by $5 billion..... other academic research finds that the same bill would lift more than 4 million people out of poverty (Gould 2 par. 5). Raising the minimum wage may also help cut back government assistance, such as SNAP or cash assistance, which is ultimately beneficial to our economy. Besides helping the economy, we, as American citizens, need to help our fellow Americans.

Many economists say that by raising the Federal minimum wage by $2 would increase the unemployment rate significantly. However, the Congressional Budge Office said in 2006 said that

Economists believe legalization of the undocumented workers would bring substantial economic gains. The real wages of newly legalized workers increase by roughly $4,405 per year among those in less skilled jobs during the

Getting a proper college education will also lead to you earning more money in your profession. “Adults who graduated from a four-year college believe that, on average, they are earning $20,000 more a year as a result of having gotten that degree. (Source F). According to the U.S Census Bureau, college graduates with a bachelor’s degree make an average salary of $51,206 per year and graduates with an advanced degree make an average salary of $74,602 per year. Non-college graduates make an average salary of $27,915 per year, which is significantly lower than the amount college graduates earn with any degree.

Justificatory Argument Progressive Tax System is Pivotal for Our Nation’s Progressive Growth As the 2016 presidential election nears, the debate on tax reforms is heating up. In the latest presidential candidate debate in November, the Republican candidate Ben Carson proposed the adoption of flat-tax rate: “Everybody should pay the same proportion of what they make”. At least four other Republican candidates have talked up their support for replacing the current tax system with a flat tax system, saying that it will substantially simplify the tax collecting process. However, it is important to note that the use of progressive tax system is necessary for effective wealth redistribution and the subsequent maximization of social utility. Now,

The argument of raising minimum wages have been really popular recently. In the article, the author talks about all the benefits of raising the minimum wage and what states have followed the bandwagon in doing so. The overall dilemma regarding the raise of minimum wage limits is whether raising the minimum wage really going to help the economy or is it just going to cause problems for the middle and upper class? The law of economics will introduce inflation into the raise and the economy will end up in the same position as before. For example, the standard of living on the west coast and the east coast is different because of different wage levels.