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
If I was in the situation that many people are in today where I could not pay bills I would be devastated. I would need to almost work around the clock just to try and support myself without any assistance from the government. Even then I still would not be able to fill a grocery basket with essentials at the end of the week. I hope people can start to see the positive effects of the minimum wage increase and not just the negatives. Yes prices may increase but they will not increase enough to have a negative effect on our economy.
One of the most frequently asked questions in our country seems to be will minimum wage being raised or lowered affect poverty. Poverty has struck many people in the United States across the nation. With this occurring in our country poverty will continue to affect millions of Americans each year. The federal minimum wage ought to be raised because it would fortify the economy and enable Americans to out of poverty. Increasing minimum wage will make workers more financially stable, if the wage doesn’t increase it will be harder for people to make a living.
In today’s world, there is a rising controversial question, should minimum wage be raised. There are several statistics defending each side of this issue. Some people, for example, that raising the minimum wage could benefit so many individuals provide for themselves and for their families. While on the opposing side people say that raising the minimum wage could potentially ruin small businesses. Today’s minimum wage is $7.25.
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.
Huba 1 American companies are continually striving to have the most competitive price for their products. As always, having low prices always comes with a cost some way or another. One way companies lower production costs is by moving production to another country. When companies move production to other countries, many problems can arise. For instance, when a company moves they must lay off hundreds, sometimes even thousands of employees.
The growth of outsourcing has spurred a contentious debate whether outsourcing is the sole reason the manufacturing sector is losing jobs, and if, in the end, it is better for the average consumer. In the article Toward a Progressive View on Outsourcing, written by Sarah Anderson, John Cavanagh, Jeff Madrick, and Doug Henwood in 2004, their stance is that outsourcing of manufacturing jobs is not the only problem, but also the outsourcing of service sector jobs, and that outsourcing will have a largely negative effect on the everyday life of the average American. Every author has substantial qualifications, including “Sarah Anderson [being] a global economy project director and John Cavanagh [being] the director of the Institute for Policy Studies” (Anderson 23). Meanwhile, In Defense of Outsourcing – written in 2005 – Timothy Taylor takes a conflicting view. He believes that outsourcing benefits the Unites States’ consumer, and any negative effects are offset by other factors.
Performance-Based Pay: Should the Minimum Wage be abolished? Over time, economists have been researching on the necessity and effects of minimum wage on peoples’ lives. It is the amount of compensation imposed by the federal government since 1938 below which laborers should not sell their services. Since then, this wage level has been increasing with time. Its primary aim is to tackle poverty and improve standards of living by ensuring every worker enjoys a minimum level of income (Mark, 2012).
Minimum Wage Low-skilled workers are steadily pressing to raise the minimum wage, but this would be a disastrous idea. There are many people giving input on why the pay should be raised and saying they cannot live on such a low wage, but the minimum wage is not for someone 's career, it is for people with low skills to get eased into the workforce like teenagers. They do not realize how detrimental a hike in the minimum wage would be on them in the long haul. The people need to be informed on what they are asking for before they get an even worse outcome than before. The people who make minimum wage very clearly express their theory that higher pay will benefit them and show many valid points on why it should be increased.