Some say that raising the minimum wage will lift people out of poverty and provide a higher standard of living for everyone. Others believe that doing so would damage the economy and result in the loss of jobs. Raising the minimum wage would be detrimental to the economy, because it would create many problems for businesses and the free market. Raising the minimum wage would have a negative impact on the quality
Many people would not want to work for less than a dollar an hour. The purpose of minimum wage is to prevent this. Minimum wage has been a widely debated topic since it was introduced back in 1938 because many people are paid minimum wage, and it is some families incomes. The minimum be raised to benefit both workers and employers. Raising the minimum wage would create jobs and promote job growth.
This income would be okay for the average high school or college student, but not for a parent who maybe didn 't finish high school and has a family to take care of. This forces a minimum wage worker to rely on the government for things like food stamps, cash aid, housing assistance, and health care. “Increasing the minimum wage can be part of a comprehensive poverty-reduction package in developing countries but should not be the only, or even the main, tool to reduce poverty”. Minimum wage workers spend more of their income on things like housing and never get to a point to be financially comfortable causing more people to go into poverty. Studies show there
For instance, from the article “The effects of minimum wage” by David Neumark states that employers will try to keep away from low-skilled workers if the wage were to increase because it would cause them to be wasting money to train them; especially for students and high school graduates who are in absence of any work experience. With minimum wage increasing for the past couple of years it makes it difficult on employers who run small businesses to hire more new workers because they too are also citizens that have to pay their taxes and extra just to keep their business up and running. Such as the author Gina Kim who wrote the article “Minimum wage: helpful or harmful for small businesses” states that 85% of small businesses pay workers a bit more than the minimum to keep their workers interested in the job and they have to make profits out of their business to keep it on track. These businesses cannot innovate if the wage increases because then the labor market will pick up the prices on materials as well creating more of a problem for small business owners to keeping their company open for as long as possible and their solution would be to not hire a lot of employees. This pretty much explains the reasoning about how it will be troublesome for new fresh workers trying to just gain experience and get hard earned
That is the heart of the liberal perspective on increasing the minimum wage and paying employees more will not just help workers but business owners and the population at large. This is so for several reasons. First, paying workers a higher salary is going to increase the productivity of the workers. This increased productivity and improved customer service will generate more in revenue than the increase in wages. Secondly, the reduction
This became significant because as the bourgeois started improving their machinery and producing more, they did not need skilled labor, and they could hire women and children for a lot less money. With this happening unemployment rose and wages fell, thus putting more people into poverty and starvation. This is similar to what happened in the French Revolution because the oppressed were extremely poor and did not have enough to eat. This caused a want for reform, and therefore, the same could happen between the bourgeois and the proletariats. In other words, the oppressed can only be oppressed for so long before a life or death challenge steps in, and they have to step up to the challenge.
The following paragraphs will discuss the pros and cons surrounding both sides of this topic and the reasoning that births each one. Many politicians, business owners, and citizens hold fast to the belief that heightening the salary attached to minimum wage positions will yield negative benefits for our society. This opinion is supported by three vital view-points. The first can be found in the news article, “The Argument Against Raising Minimum Wage.” It expresses how the enlargement of this payment will take a toll on employment. The document reasons that if the amount of money employees earn is expanded, companies will be less likely to hire as many workers (Huppke).
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.
All of these questions are heavily debated, and many people have different points of views Minimum wage can have both positive and negative effects. The positives are that people who do not get a job that gives them a living wage can get enough money to provide for them and their families and no one could be underpaid. The negatives of minimum wage is when it increases, increases unemployment, it is not supposed to be a living wage, and it goes against free trade. The first downfall of minimum wage is that it increases unemployment significantly. In an article by National Review writer Tim Kane, “It is Time to End the Federal Minimum Wage,” he gives some statistics regarding this topic.
But yeah it is nice to have extra money by raising minimum wage but it is going to be the same thing overall, if not worse the bills are going to go up with it. Raising minimum wage could reduce the benefits you get such as insurance, vacation, and your future. Raising it as well means what about all the people that already have their worked their way to what the minimum wage wants to be set at. Do they expect them to stay at that same wage or go up as much as minimum wage raised. It is hard to raise the minimum wage therefore it shouldn 't.
What new, Significant question do these texts raise for me? Is it too late to depend on the government to fix this problem? If minimum wage is increased will it put many lower-level wage employees out of a job (Saltsman 40)? Is it true that there is “little connection between a higher minimum wage and reductions in poverty” (Saltsman 40)? What are the real numbers regarding households in poverty in the United States and what is the best way to help those people and families out of poverty so they can stay out?
Even though the minimum wage workers will have more money on pay day, the rise of goods will cause inflation, and they will still not be able to afford anything. The Government should stay away from any kind of minimum wage policy. Raising the minimum wage might help the lower 20% of people of the nation