The Negative Effects Of Minimum Wage

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What if your family was in danger of being broke and homeless would you want to know the full impact that minimum wage has on your life to keep your economic floor stable for your family? Minimum wage has much effects on the average person's mental and physical life as well as spending habits due to the situation the person is in. Minimum wage or income will also influence the tax amount that you will pay that year along with how the recent tax laws are creating fair play between businesses and workers. The minimum wage topic is important to all americans ,and most base their knowledge and opinions off of the background of minimum wage and how it impacts people, the pros and cons about minimum wage, and how minimum wage relates and impacts…show more content…
The productivity growth of the United States since the late seventies has not influenced the majority of workers (Howell). Minimum wage in America has collapsed from the year nineteen-sixtyeight to nineteen-eighty-nine by a dollar fifty six. We have recently had the longest period in time without a raise in the minimum wage between the years of 1997 to 2007(“The”). The higher wages the minimum wage can provide can increase consumer purchasing, raising productivity, improving product quality, and improving company reputation. All of these reasons contribute to the improvement of the economy. “The economy is in its worst crisis than it has been since the great depression” (“The”). Minimum wage has not been what it was made to be in the past years according to many sources ,and the effect that it is having on our modern economy is acceptable. If the minimum wage was to increase more than eight percent of louisiana's workers would be affected in a positive way. The numbers are the same in many other states as well. The numbers state that increasing the minimum wage will allow America to pull out of the recession that we are held within. The committees of New York and California concluded that a fifteen dollar minimum wage is estimated to increase the income of minimum wage workers by one third percent in each state. Many large business owners say that this will greatly impact the productivity and growth of their companie in a positive way. They say that there will be more income coming in along with quality consumer products going out at a much faster rate than ever before. The scattered opinions on minimum wage are far and near ,but they can not argue with the future and prospering of the average worker along with the
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