Those affected by low minimum wage laws are not only limited to low income or middle class workers but taxpayers also. If a low income worker needs government aid that has to be paid for by taxpayers. Increasing the minimum wage comes with many benefits to workers and the government such as more income means more money individuals will be able to spend and families that rely on government aid because of low wages will ideally no longer need them because of higher payment they will receive. Many democrats and supporters have pushed to raise the federal minimum wage to better reflect the current cost of living, while other states have already taken initiative and increased their own minimum wage laws. The increase of the federal minimum wage is difficult to execute because of the republican political party, they argue that increasing the minimum wage will cause job loss, a rise in prices, and less hours an employee can work.
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.
Well I see where you’re coming from but, maybe the pay in their country isn’t as well as it is in ours. It’s expensive to raise a family low pay is even harder. They shouldn’t be making fifty dollars a hour, but $7.50 is a little low to raise a family on. Somebody has to pay the bills, buy groceries, pay for gas, buy clothes, and all the countless other expenses that a family requires. When they get into the United States and get a job, they work harder, they will work overtime for more hours of work and more pay on their paycheck.
By not paying so much subsides and People who have fast food jobs or jobs paying minimum wage wouldn 't worry about bringing in money for themselves because living wage would be minimum wage and is stable. Why punish the people who work minimum wage jobs because somebody has to work that job and if they don 't get paid enough they have to rely on something to help them get by raising minimum wage to living wage would a lot more people be independent not just from the government but from other people because one person with a minimum wage job don 't pay rent don 't pay all their bills but bringing in living wage compared to minimum wage would help if there wasn 't
While the general sweeping statement that everyone is a stakeholder may sound absurd, the minimum wage debate affects everyone. Society as a whole should care about the decisions being made regarding wages and how it will affect business and economy. Arguments: The Pros and Cons The Pros Pro #1: Positive Impact on Economy Argument
Saltsman goes on to say that those who actually live in poverty need to find a job to help their situation before Congress touch the minimum wage. Raising the minimum wage will only increase the prices of everyday goods, especially since big corporations, such as McDonald’s, want to keep their profit margins large. On the other hand, Surowiecki explains that higher minimum wage remains only half of the problem; he suggests that Congress must expand earned-income tax credit and strengthen child and health care systems. In contrast, Saltsman refutes this statement when mentioning that unskilled workers will lose their jobs if the minimum wage is raised because their job will go to higher educated
One of the cons to increasing the minimum wage is that it helps larger corporations and hurts smaller businesses, therefore, competition is decreased. The bigger companies use raising wages acts as a barrier to entry to new business entering the market and create a monopoly for larger companies who have more profits to afford the increase. An example of this is Wal-Mart, who can afford to pay employees nine dollars and twenty cents an hour but a little store such as Meijer 's who does not make as much profit would limit their hiring of new employees and would cut hours to compensate. A family store might decide that the cost of entering the market is too high to endure as they build up their clientele and develop their business they decide not
First, I would like to provide training program for individuals who are considered as low-skilled workers. By providing training programs, individuals can learn new skills in order for them be qualified for a higher paid position that requires different skills. Second, I would reduce tax deduction from each paycheck for minimum wage earners so that they are receiving more income in each paycheck. Third, I would make a policy to increase the earned income tax credits which will directly help families who are earning minimum
Hence government should step in to intervene in businesses, but it is a completely different story if we are running out of food and oil rather than just raising the price because they want to. When businesses are filling up their account with more money, but leaving their consumers with less money in their wallet there is a problem and it will hurt the supply and demand law. That being the case, government should be given the authority to regulate markets only to an extent to make sure the inflation level stays at a reasonable
This is a very big issue. By raising the national minimum wage, the United States may, after some time, decrease the percentage of people who are considered to be living in poverty. One political cartoon depicts the minimum wage being dictated by large businesses as opposed to having the minimum wage be
These benefits would be only be available to the lower and middle class, leaving the rich without benefits, thus creating income equality. This is not the only time the rich will not receive benefits, but the poor will as Krugman says an increased minimum wage will raise the social status of the poor. Raising of the minimum wage, at the time when the article was written, would allow the lower classes to bring in an increased income annually. The rich are then forced to pay their workers more, which means less money for the wealthy annually. This means the poor would make more money, the middle class would stay the same, and the rich would make less annually, therefore bringing income equality.
Should the Federal Minimum Wage be Increased? Have you ever thought that you wanted a raise at work but did not have reasons? In this essay you can give your boss these reasons and get more money. The minimum wage in 2012 was $7.25. The minimum wage is a large-scale reason of poverty.
The most important reason is that it would make it harder for people to create businesses if we raise the minimum wage. For example , say that you or a friend were looking for a job, what if neither of you can find a job because all of the once-were available jobs
If businesses are earning more, they will need to hire more employees to keep up with the increased sales from the minimum wage consumers who have increased the spending because they have higher earnings. This in turn causes businesses to sell more products. If a business has a jumpstart to more sales, they may discover that they need more employees, producing more job opportunities. Causing employers to recruit more employees to supply the demand of labor, which will be needed due to the increased sales. Currently, the Government provides millions of house with some type of assistance.