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. A raise from $7.25 to $10.10 would inject 22 billion dollars into the economy and create over 80,000 jobs over a 3 year period (Minimum wage). The raise would help put money back into the economy creating big economic gains, and more jobs being created by business. More jobs can help lower the unemployment rate in the US, as well. Overall, Raising the minimum wage can help create jobs, lower unemployment rate, and put money …show more content…
According to MIT’s living wage calculator, Hall county’s living wage is roughly $11 an hour for the average adult (Glasmeier). Living wage is the lowest amount of money an adult can make per hour, to still maintain a normal standard of living. The federal minimum wage of $7.25 is nowhere near the $11 dollars needed, much less Georgia 's minimum wage of $5.15 an hour. This is why raising the wage could help more people live to a normal standard of living. Many people against raising the minimum wage argue it would raise the unemployment rate. Many argue companies wouldn’t be able to keep the same amount if workers, and half a million jobs would be lost (Minimum wage). This is not true, the extra money in customers hands would raise the economy enough to cancel out the extra costs, and actually create more jobs. Jobs might initially be lost, but in the long run, they will recover with a vengeance. In the end, when people say raising the minimum wage would lose jobs, it is a temporary loss that will recover within a year or
Minimum wage would raise the wages of many workers and increment benefits what disadvantaged workers. An estimated 6.9 million workers would receive an incrementation in their hourly wage if the minimum rage were raised to $10.15 by 2015. Due to the spill over effect the 10.5 million workers earning up to a dollar above minimum wage would withal be liable to benefit from an incrementation. Women are the most astronomically immense group of beneficiaries from a minimum wage increase. Sixty percent of workers who would benefit from an incrementation are women.
Some reasons why people disagree is because they can lose their business by going bankrupt and housing prices increase. Increasing the minimum wage would cause economic strain in many ways to workers already living in poverty. Another problem resulting from an increased minimum wage is that of potential job losses. Economists believe that increasing the minimum wage will increase the unemployment rate because if the cost of hiring workers rises, businesses are most likely to hire fewer employees to cut their costs. So, there will be a higher unemployment rate.
Minimum wage is the least amount of money per hour that employers are required to pay according to the law. The minimum wage is set to be the standard of living. Due to inflation, $7.25 an hour has become less than the minimum necessary, causing many Americans to fall well below the poverty line. The government should raise minimum wage to create more job opportunities, decrease government assistance, and increase the economy overall. The economy will raise as a whole when workers put their money back into the community.
Just simply raising the minimum wage is like what Germany did after World War I. To pay off their debt they just printed off a bunch of money, but what they did not realize is that the value of their money dropped. Just raising the minimum wage is not going to magically help the United States economy. Raising the minimum wage also decreases employees work ethic and the use of incentives ("Seattle Wins 'Fight for $15,' but Low-Skill Workers Lose." A.7). If the minimum wage is raised then many companies will no longer be able to use a raise to promote their work ethic because they will no longer be able to afford the raise.
Americans can all agree that America is struggling to keep unemployment rates low. If the government raised the minimum wage to $10.10, a projected 85,000 jobs will be created in the next three years. Along with the increase of minimum wage, everyone will be making more money, otherwise known as wage inflation. If the minimum wage goes up three dollars, people who make more than minimum wage will get more money to compensate for employees that make minimum wage. The modern economy is far too ahead of the measly $7.25 minimum wage workers make.
The federal minimum wage should be increased because raising it would increase the economic activity and spur job growth, decrease poverty, and also improvements in productivity and economic growth have outpaced increases in the minimum wage. Increases in job growth and economic activity will happen when the minimum wage is elevated. If the minimum wage was increased it will “inject 22.1 billion net into the economy and create about 85,000 new jobs over a three year period”. (“Raising the Federal minimum Wage to $10.10 Would Lift Wages for Millions and Provide a Modest Economic Boost") Thousands of new jobs will be created and it will put billions of dollars into the economy.
An increase on minimum wage will hurt the economy and low-wage workers. Although the minimum wage is believed to bring many families out of poverty, according to the CBO, if the minimum wage rises, as much a s one million jobs will no longer be available to people. CBO uses a television ad to illustrate why an increase on minimum wage would not benefit the poor. In the ad, a waiter is replaced by an iPad.
The benefits of raising the minimum wage law to $15 would help reverse decades of growing pay inequality ("Economists in support of a federal minimum wage of $15 by 2024"). Everything good has a bad side, and for the minimum wage, there is no
If America raises the minimum wage to $9.00, it will help people in need or in poverty, but it also won’t hurt people in the workforce. If you increase the minimum wage to $15.00 it will make unemployment rates go high up. Which in the process, makes the homelessness rates go up in the country and in your community. If you keep the minimum wage at $7.25 people will stay in poverty and homeless or on the verge of homelessness.
History of Minimum Wage In over about 120 years ago, New Zealand was the first country to have a national law creating a government role for setting a minimum wage. The minimum wage has been a cornerstone of the United States’ labor system, and has been a cutting-edge labor law topic among employers and workers for decades. However, the United States has not always had a minimum wage, and was introduced during the Great Depression of the 1930s. Before the minimum wage was introduced there was no federal minimum wage and no legislation to protect workers from exploitation. Therefore, the lack of regulation cause thousands of people to have a routine exploit in poor working conditions in factories for little pay.
This would make it where people wouldn 't have to live paycheck to paycheck. Raising the wage slightly would also make it so the price of goods wouldn 't have to be raised. The Economic Policy Institute stated that a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion net into the economy and create about 85,000 new jobs over a three-year phase-in period. This raise increase would be easy to implement and would help the economy. By implementing this new minimum wage many problems in America can be solved.
In conclusion, a federal minimum wage increase will significantly improve the standard of living of low-wage workers. To meet their basic needs, workers must be given a living wage. It is not only morally correct to do so, but also beneficiary to both ends. The increase in wages allows for a more supportable income, but it also stimulates the economy.
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.
Many argue that an increase in minimum wage will help guide low skilled workers out of poverty and assist them into having a better career. That is not necessarily true, Many economists can agree that minimum wage jobs such as cashiers, host or a hostess are not jobs that meant to support a family. If anything by raising the minimum wage, it will put more people in poverty than guide them out of poverty. A raise in minimum wage will cause loss of jobs, an increase in the inflation rate, increase in
By minimum wage people would have a higher standard of living and a easier way of life. This will then help the economy and jobs in the