ipl-logo

Should The Minimum Wage Be Raised

435 Words2 Pages

Small Businesses could go out of business if we raised the minimum wage to a higher price. This is a widely debated subject of money, income, and the effect raising the minimum wage can have on businesses and the economy. Currently, the federal minimum wage is seven dollars and twenty-five cents and have been established that way since 2009. It has been said minimum wage should be increased to accommodate living expenses and travel time to places of work. The problem with raising minimum wage , that many people do not realize, is how it affects big and small businesses. Also, they do not realize the impact it would have on our economy and our nation as a whole. The reason some people believe that the minimum wage should stay at seven dollars

Show More
Related

  • Why Do We Raise The Minimum Wage?

    524 Words  | 3 Pages

    Raising the minimum wage has been one of the biggest debates during the 21st century. One side of the spectrum argues that raising it will make it so they have a living wage, while the other argues that raising it will hurt the economy. Whichever the case is, people are clearly divided on this issue. Before Oregon passed the 15 dollar minimum wage law, people wrote arguments to try to either prevent or pass this law. The article, “How a $15 minimum wage would affect a real business: Guest opinion” by Lee Spector argues that raising the minimum wage would hurt small businesses like the one he earns.

    Read More

  • Pros And Cons Of Raising The Minimum Wage

    1094 Words  | 5 Pages

    First, one main reason that the minimum wage should be raised is because the economy will prosper. “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” (ProCon). This quote shows that the economy will flourish from the increase of the minimum wage and that unemployment will decrease. Another quote that shows how raising the minimum wage will affect employment is “To the extent that through these contour effects it affords as much as 70 percent of the workforce greater purchasing power, it effectively increases aggregate demand for goods and services, which should ultimately lead to the creation of more jobs” (Challenger 19). Bryan Covert supports raising the minimum wage by

    Read More

  • Is It Ethical To Raise Minimum Wage

    321 Words  | 2 Pages

    Is it ethical to raise the minimum wage when it doesn’t necessarily affect the very poor, the people it’s aimed at helping? The minimum wage is the lowest hourly wage an employer is permitted by law to pay an employee for his work. The current federal minimum wage is set at $7.25 an hour. Across the country, there is an overwhelming push in favor of raising wages for our poorest workers. In January 2016 the minimum wage in California was raised to $10 an hour.

    Read More

  • Should Minimum Wage Be Raised Essay

    407 Words  | 2 Pages

    When you raise minimum wage you raise the price in everything else for instance if minimum wage was raised ten percent that also raises restaurant prices 0.7 cents that may not sound like a lot but it starts adding up sooner or later and who knows then it could raises prices a whole dollar. Some people think that because the cities they live in are so expensive that minimum wage should be raised but if you live in an expensive city and are also living off minimum wage and can not afford it then you should not be living there. Also women think that they can not have a good lifestyle for their children with what minimum wage is paying. If you are living off minimum wage and trying to raise children then maybe you should find a different job where you can afford a life for your kids. Minimum wage should be raised because the economy is at a point where if minimum wage is raised there would not be a drastic change.

    Read More

  • Should Minimum Wage Be Raised

    346 Words  | 2 Pages

    Why not give the people more ? Minimum wage is a constant conversation in America. The current state of this controversial conversion in America is raising the current minimum wage, which are 7.25. As of today, 1.7 million Americans are living off minimum wage every year. These people are all living under the poverty line.

    Read More

  • Minimum Wage In America

    885 Words  | 4 Pages

    Although there are those out there that would argue that the minimum wage increase would cause more damage to our economy; I believe

    Read More

  • Raising Minimum Wage Debate

    660 Words  | 3 Pages

    The topic of our debate is “The federal should raise minimum wage”. I am going to define the following terms: minimum wage- lowest legal wage that can be paid to most workers ($7.25). I the affirmative team believe the statements are true, our following contention will uphold my point: • Living Standard • Economy Contention 1: Living Standard Raising minimum wage will help many people that are in “living wage”. Living wage enables workers that can’t support their life and their families with a low amount of payment they get. Nearly 8 million Americans go to work every day yet still live the poverty line.

    Read More

  • Federal Minimum Wage Essay

    618 Words  | 3 Pages

    . . The current value of the minimum wage in real dollars is at its lowest level since February 1956, when the lowest U.S. wage was 75 cents — the equivalent of $7.19 in June 2022 dollars” (Cerullo). The increase in the federal minimum wage and adjusting the price to compare with inflation would ensure that low-wage workers could adopt a standard of living that is equivalent to the current economy. The federal minimum wage should also be increased as it will allow minimum wage workers to afford basic living expenses. Currently, the minimum wage is not enough for people to afford housing and other necessities.

    Read More

  • Persuasive Essay On Minimum Wage

    711 Words  | 3 Pages

    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.

    Read More

  • Wealth Inequality In America Essay

    598 Words  | 3 Pages

    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.

    Read More

  • Essay On Federal Minimum Wage

    670 Words  | 3 Pages

    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.

    Read More

  • Increase Minimum Wage Essay

    607 Words  | 3 Pages

    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.

    Read More

  • Conflict Perspective On Health Care

    1017 Words  | 5 Pages

    Economic research points to the conclusion that a higher minimum wage does not cause greater unemployment, boosts productivity, and addresses the growing problem of rising income inequality. The minimum wage debate currently underway tends to narrowly focus on those workers making exactly the minimum wage. This approach misses a large number

    Read More

  • Essay On Increase In Minimum Wage

    704 Words  | 3 Pages

    However, in the long run, many employers will not be able to maintain to stay in business due to the significantly high wages. An increase in minimum wage would cause millions to lose their jobs and put them further in poverty. It would even make it harder for them to obtain jobs after the increase due to the increase of competition in the job market, and most importantly an increase in minimum wage would cause increase in the price level and it will reduce significantly consumption due to the lack of purchasing power that is cause by the higher inflation rate. The minimum wage should not increase because it is unsustainable economically. Another approach of help guide people out of poverty can be a push for an increase in education and knowledge capital instead of continuously increasing the minimum

    Read More

  • The Importance Of Socialism In America

    1513 Words  | 7 Pages

    However, this has a few fundamental flaws. While larger businesses such as McDonalds or Walmart could easily pay a few dollars more to keep their stores open many smaller businesses do not have that kind of luxury. By raising the minimum wage many smaller businesses would either have to lay off workers or shut their doors entirely due to lack of funds. Not only that

    Read More

More about Should The Minimum Wage Be Raised

Open Document