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.
Opponent’s opinion is that minimum wage forces the employers to hire fewer employees because they have to pay more to their workers and the cost will increase. Other opponents say that it can increase the prices as businesses must raise their prices to adjust the higher wage and keep the profit stable. In 1995, the Congressional Joint Economic Committee published a review of 50 years of academic research on the minimum wage . The study found many negative impacts of increasing minimum wage, the findings include: reducing training for workers, increase job turnover, reducing school attendance, and encouraging employers to hire illegal workers. Also, because the minimum wage levels are different from one state to another, some states have higher minimum wage, some economists believe that this would have negative impacts on investments, as investors would like to invest their money in states with lower minimum wage to minimize the cost and to maximize the profit.
Increasing minimum wage fights against poverty and gets the person out of the debt. Workers are motivated to work hard for the businesses and to give more support to the family. More disposable income will be injected. A small change in minimum wage hourly can give them a much better standard of living. To employers raise in minimum wage saves them a lot on recruiting employees and invest money on their training.
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.
Today 's society has various standpoints when looking at this very contentious topic in the US: Minimum wage. To illustrate, imagine coming home every day to your family and not being able to you or your family to have dinner as you didn’t make enough money during work. Imagine having to share a small cramped apartment with a family of 4 to save a few pennies for necessities such as food, water, and medical care. Indeed, these are the conditions these families living on minimum wage are experiencing. You may ask, who doesn’t want the minimum wage to increase; the more, the better right?
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.
Unfortunately there are some people who believe that this won’t work they have some good points There really is no getting rid of poverty there is just raising the poverty line until soon middle class will be poverty While this is unfortunate it is true Some other good points people against raising the minimum wage is Most places cannot absorb a $15 Minimum wage If we lower it in places then maybe it will take it better Many of the people who work part time are just teannagers looking for some extra money But only 47% of adults have a full time job While only about 58% of adults were working thats still a lot of adults who are working part time How much would raising the minimum wage really help It will help people get out of poverty I’m not asking for a $15 a wage I am asking for a living wage All things considered It’s obvious that While the opposition has some good points the pros outway the
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."
Raise Minimum Wage Raising minimum wage has always had a debate amongst people. There has always been a controversy of doing so has or not, how ever there is always some advantages and disadvantages in such topics as such. According to some studies from 2013, research shows that raising minimum wage could in fact increase job growth and activity. This research was based on the wages of $7.25ph increasing to $10.10ph and if it was done so, it would point 22.1 billion dollars net into economy and produce 85,000 if not more jobs in a period of 3 years. Studies also show that raising minimum wage would reduce poverty, a $10.10 minimum wage could save up to 900,000 people out of poverty (Congressional Budget Office).