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.
Would you want hard working families and people to get underpaid for their hard work? Well for most people the answer is not clear to them. Minimum wage has been talked upon by many people for almost a century now. Minimum wage has been increasing by a few dollars here and there for years, but many people are not satisfied with the current wage that it’s at right now and want it increased. There are some people that are totally against raising minimum wage because it can lead to losing jobs, but besides that it can make many people and families get out of debt.
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.
Imagine an increase of unemployment, closing of businesses, and living costs. These would be results of an increase of minimum wage. The increasing change of minimum wage does not always result in beneficial ways. Would you want a hike in minimum wage if it could possibly raise the prices around you? Minimum wage is affecting employment, businesses, and how people live in ways that are unrewarding.
$15 an hour sounds great to almost everybody, but most people don’t realize that if we all made $15 an hour it wouldn’t be as great as it sounds.The federal minimum wage should not be raised and should be kept at $7.25 because its negative effects on people 's income, inflation of prices due to a domino effect and the loss of jobs in mass numbers. There is no reason to raise the minimum wage in the first place, one of the claims I have heard from you is the ”reduction of poverty.” The problem with this claim is that the majority of poor Americans do not work at all, for any wage, so raising the minimum wage does not help them. It is like giving extra milk to a lactose intolerant person, it has no effects and only takes milk away from the rest
Meanwhile in America, there was a debate whether Washington would accept colonialism. In the 1970s most Americans rejected colonialism. But now, the people having non-colonial ideology had become aged and the new generation, like Roosevelt, were keen to be imperialist. The economic condition in America made this change. Lower sales of products had created economic depression which led lower salaries and endangered the life of middle class families.
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.
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.
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.
Of course their are many factors that are effecting small business start ups, including taxes and their current market worth. (Deducting Business Expenses) If the government would shift the regulations to larger established businesses it would allow the small businesses to be able to prepare for these regulations. The U.S. productivity growth rate is nearly half of its historical rate at a whopping of 1%. (Small Business Facts) Also when their would be a loss of funds by not regulating these small businesses the government could just start receiving them from the large established corporations. These benefits from this would cause the small businesses the create jobs and bring money into local areas.