The Consequences Of Raising Minimum Wage

Detroit is now starting to suffer in these recent years. The unemployment rate has sky rocketed and the quality of education in the citizens is poor. When Deferred Action for Childhood Arrivals (DACA) was introduced I was worried about it having too many side effects that Detroit is already suffering from. Although when President Obama’s 2014 executive actions on immigration was put on the table I know this could change things. I would only fund President Obama’s 2014 executive actions on immigrations in hopes of lowering unemployment and raising the quality of education.

A. The Treaty of Versailles promoted Germany to lose part of its important territory. B. Territorial loss meant loosing lots of resources that were needed for Germany to maintain its good economy. In document A, the note placed under the map mentions that due to the loss of the territories, the coal production reduced by 40%. This demonstrates how the country’s economy suffered.

Essentially, Washington D.C. was one of the cities that established raised wages. In Jason Russell’s article, D.C. Lost Restaurant Jobs After Min. Wage Hike, he describes the repercussions placed on employees once the minimum wage was raised. Russell explains that after Washington D.C.’s minimum wage rose to $10.50 an hour in 2015, increases in restaurant jobs failed to keep up with the quick growth it carried during the economic recovery and further explains how restaurant jobs fell by 1,400 in D.C. (Russell 1). This quotation reflects Warren’s cartoon by representing the symbols of the spike and the man being pierced; recalling that the spike in this picture is portrayed as the harm that will be caused to employees due to the hike in minimum wage, and the man representing minimum wage jobs.

R. Belfield and H. M. Levin (Washington, DC: Brookings Institution Press, 2007) estimates that if dropouts who completed high school attended college at rates similar to those of high school graduates, the difference would exceed $550,000.) The results of drop out for a student of high school can be severe and can have lasting social and individual and effects. High school dropouts are found to work at low paying jobs earning less than $13,000 per year. The high cost of high school dropouts is not only the problem of the individual. The cost of social services, lost wages and taxes alone is $250 million in the United States.

Argument Response to James Suroviecki’s “The Pay is Too Damn Low” In the New Yorker magazine on August 12, 2013, James Surovwiecki’s article “The Pay is Too Damn Low” was published. He lays out a good argument on the benefits of raising the minimum wage, but fails to address the complicated connection between low-cost goods and services that Americans have come to demand and the low minimum wage. If companies such as Wal-Mart, and McDonalds were to have to pay $15 an hour for their lowest paid employee’s, it stands to reason the added costs would be passed on to consumers. Would Americans revolt at the idea of paying nearly double for a “happy meal”, or a coffee maker? Yes, I believe they would.

The Great Depression start on October 29 1929. The Depression was a time of economic downturn resulting in many people losing their jobs, house money, etc. The Depression started with the crash of the Stock Market which quickly spread its way through America. Herbert Hoover, Franklin Delano Roosevelt predecessor believed in an economic philosophy called Trickle Down Economic meaning that if a Business does well the whole economy benefits. During the beginning the depression very little businesses succeed so still no people benefited from a quote unquote flourishing business.

In all this frenzy the United States Securities Regulation agencies could have shut down the market but they feared that would only spread more fear and could have led to a violent display of the emotions of the public. Finally came Black Tuesday (29 October, 1929) by when the markets had most certainly crashed and around $25 billion ( $319 billion in today's dollars) and 15,000 miles of ticker tape paper had been lost. Stocks continued to fall till 13 November, 1929. The depression had set in by then and had already started spreading in great intensity to the rest of the

They are the future that holds this country together and some of them can 't seem to make a living for themselves due to something out of their control, being born into poverty. An article by NCCP.org, information about child poverty states, “ Children are over represented among our nation 's poor; they represent 23 percent of the population but compromise 32 percent of all people in poverty.” Some people might say that a lot of children earn honest living and is just a way of life. This might seem true to others but, the poor keep growing in numbers as the “top ten percent” get richer. APA.org states, “Poverty is linked with negative conditions such as substandard housing, inadequate nutrition and food insecurity, inadequate child care, lack of access to healthcare, unsafe neighborhoods and under resourced schools.” All these points work against the child 's success in the world and just keep them at the level of poverty they were born

While I will concede that automation and robotics are slowly but surely eliminating many low wage unskilled jobs, I still believe we have a responsibility as a society to pay those workers doing the jobs that remain, at a “living wage.” The last time the Federal Minimum wage was increased was July of 2009; it went from $6.55 to $7.25 an hour. That is eight and one-half years ago. According to an online inflation calculator $7.25 in 2009 is equal to $8.38 today. Of course, inflation is only one aspect of the deterioration of living wage standards. The cost of housing has sky-rocketed across the country.

This trend has led some analysts to predict the supply of IT workers between 2008 and 2038 and a 15 percent decline, while demand for experienced workers increased by 25 percent. 5.0 Summary Therefore, it can be said that the recession economics refers to the slowdown in the economy that led to the end of the business cycle. Some leading indicators of economic recession is the ratio of unemployment, inflation, GDP, and earn a profit by business organizations, income, investment spending, bankruptcy, capacity utilization and so on. Consumer spending is certainly the basis for many economies. Long-term prosperity of the mid-1990s to the late 20th century, built in buoyancy spending - especially in developing countries, the service sector has replaced manufacturing as the main economic engine.

For young college-educated men in 2000 hourly wages were $22.75, but almost dropped a full dollar $21.77 by 2010. For young college-educated women, hourly wages fell from $19.38 to $18.43 over the same amount of time. Now, with unemployment being at 8%, it will be likely years before young college-educated graduates, or any workers, see substantial wage

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.

There were significant divisions between the political and industrial wing of the labour movement after the government refused to introduce a price referendum. The industrial wing, according to Maclean, was furious, viewing the government’s actions as a “capitulation to business and the interests of the economic class”. But more practically, Scott argues that it cannot be overlooked that “men and women were feeling the pinch” of the poor economic conditions the war brought. The economy contracted 10% in the first year of war, unemployment rose, and, while the average weekly wage rose 12% for men and 8% for women, this never kept pace with the rate of inflation. Geoffrey Blainey writes these poor conditions caused the “trade unions to complain that workers were the economic victims of war”, with growing tensions seeing 2405 industrial disputes between 1914 – 1919, 1.7 million days lost to industrial action and strikes, and rowdy women-led cost of living strikes in Melbourne in 1917.

People who experienced the city’s decline from the 1950s up to 1980s fled to other townships (Padnani par.1). They encompassed a majority of Whites who resolved to pursue their dreams elsewhere in suburban areas. The spirit of democracy that supported the country’s victory in the Second World War and formed the foundations of Detroit (as a Motor City) led to a six-decade descending spiral of unemployment, thereby forcing the population to shrink and the rate of taxes to rise (Guerrieri, Hartley and Hurst 121). The city’s overreliance on the auto companies stumbled in a disastrous manner. It was hard for Detroit to recover from that economic downturn.

These people are all living under the poverty line. The standard cost of living in America is $58,627. Too out of these 1.7 million Americans on minimum wage, only 21% of this number are teenagers, that leaves 79% being adults with families. Minimum wage should be raised because: some people could better support their family with more income, the economy could experience a boost , the quality of line could mean better workers, workers government program like social security food stamps and other government programs can be reduced and lastly taxes can lowered.