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
The document reasons that if the amount of money employees earn is expanded, companies will be less likely to hire as many workers (Huppke). This causes job loss for future laborers. Businesses will not be able to financially employ as many individuals, thus, increasing the nation’s overall unemployment rate. Some employers find a means around decreasing the number of employees by limiting the amount of hours each individual can work (“Economists argue about minimum wage”). A second argument in the minimum wage war focuses around the concept of inflation.
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.
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.
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.
For instance, when a company moves they must lay off hundreds, sometimes even thousands of employees. This raises unemployment in the US, while it raising employment in other countries such as, Vietnam, China, and Brazil. Now, of course, their are benefits to moving companies out of America. For instance, companies can lower their prices, and increase America’s products in the world market. Also,
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.
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.
$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
Since the election and reelection of President Barack Obama the increase in minimum wage has been a major topic for the United States. His proposal to increase minimum wage has sparked a lot of controversy with some Americans. Many believing that increasing minimum wage will have a negative impact on our economy and even our educational system. They argue that increasing minimum wages will harm the very people it was intended to help because it will increase housing cost as well as the price of consumer goods. They argue that it will decrease the high school enrollment rates at the same time increase dropout rates.