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."
(pewresearch) In conclusion, I do think we need a national minimum wage increase. The number of $15 an hour may be a little higher than needed. However, given how long it takes minimum wage increases to get passed by Congress, $15 an hour should be enough to keep up with future inflation, for a few years. Sure, some fast food prices and other products may rise in price, and some people might lose jobs but, at these wages those aren’t jobs worth having
Since the Great Depression, there has been a minimum wage in America, but this minimum wage has changed 22 times since the Great Deprnbession. Many people say minimum wage should stay at $7.25 like it has been since 2009. Meanwhile, other people believe that minimum wage should be $15.00 so they can have more money to live comfortably. People think that a higher minimum wage will help, but it will hurt more people than it will help. If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out.
During his lead, the American economy went from a GDP growth of -0.3% in 1980 to 4.1% in 1988, averaging 7.91% annual growth in current dollars (William K. Niskanen). Under Reagan many jobs were created, leading to an increased GDP. November 1982, when Reagan’s economic policies began to take effect, to November 1989, shortly after he left office, 18.7 million new jobs were created; a record for a comparable period at that time (Independence Hall). Another positive effect of jobs was money for families. Reagan also simplified the tax code by reducing the number of tax brackets to four and slashing a number of tax breaks (William K. Niskanen).
The author highlights the drastic change in college tuition by saying tuition for “ a four year college has increased by 1,222 percent since 1978” (Ellison). It shows, the price these days a much higher than nearly forty years ago, which is a massive change overtime. According to the National Center for Education Statistics the average cost of college tuition for instate students was two thousand dollars, for a four year college that would be eight thousand dollars. Taking the stats brought forth from Ellison, increasing that price by “1,222 percent” means that college students are now paying $100,000 for a four year instate college. Ellison does this to show that “college is more expensive today than any point in U.S. history.” Therefore, he argues that financial aid does not even put a dent in this cost, and in order to fix this there must be some sort of “acknowledging the student loan debt crisis”(Ellison).
To scale this number, the wage earned by dropouts is $10386 less than the ordinary high school graduate and $36,424 less than an individual holding a bachelor’s degree. Data from the bureau in 2016 shows that immigrants lacking a high school diploma have lead to a sizable increase in the low skilled workforce by approximately 25 percent. Consistent with the relationship between workers and wages, earnings of this group have decreased by $800 to $1,500 every year. Regardless of the industry or degree, the redistribution of wealth occurs between native born workers competing with immigrants to those using immigrants in their business for low wages. On a year to year basis, the effect of immigration on the economy is negative.
While it is reasonable to only increase minimum wage for those who work full-time, most that work full-time are already getting paid above $7.25 an hour. At the same time, the cost of living is likely to increase for all. Furthermore, I have personally seen that many who work minimum wage jobs made the conscious decision to drop out of school or take the easier route and earn a GED. Although I disagree with much of what Perkins states, I agree with Perkins claim that raising minimum wage might motivate people to stop abusing the welfare
“The average life expectancy is 61, up from 40 in just 50 years. The numbers of people 65 and older make up 10-15% of the world population today and is expected to increase to 20-30% by 2050 (Overpopulation.org, 2012).” We have no control over the number of people that live longer but we can reduce the number of new babies
The number of hours worked in a week has increased in the United States by about half a percent each year with 1,716 hours in 1967 and 1,878 hours in the year 2000 according to Juliet Schor the Author of The Overworked American: The Unexpected Decline of Leisure (2008). This increase, she claims, is due to the rise in weekly work hours and an increase in the number of days spent working each year (2008). Schor also discussed how an increase in productivity should lead to less work week hours, however, the opposite effect is seen. Instead of increased productivity causing a reduction in the hours of the average worker, it instead the hours related to an increased economy and demand. While this economic growth has certainly benefited the lives of many, the author discusses how a reduction in work week hours would give people more time to interact with their family and communities as well as “making up for our chronic national sleep deficit” (2008).
Finally, cigarette consumption falls, saving 100,000 lives as stated in the article. Also, in the long run there is more time to explore for possible alternatives. In conclusion, in the long term, the desired outcome of fewer smokers in California will be achieved as a result of the government imposing higher taxes on cigarettes. Consumers as stakeholders will brace the large effects as the burden of tax will be higher and cigarettes will be much more expensive due to inelastic