Most companies will hold back on all expenses or costs. There are many large companies should pay a higher minimum wagebut then you have the small companies that families start should they have to pay the increase in wages, this is where I say no. Depending on your size and what type of profit, plus how many people and then you should have to pay a tier increase so you are paying employees what they maybe
The minimum wage should be raised due to having a healthy economy, according to statistics the economy should grow. Many employers are seeing their workers suffer from earning minimum wage, so the employers decide to raise the minimum wage themselves. The toughest thing is that many families cannot support a sustainable life while earning the current minimum wage of
In the story “The Upside of Income Inequality”, Gary S. Becker and Kevin M. Murphy effectively express’s the importance and need for income inequality in our society. Furthermore, Holly Ellyatt’s newspaper article Income Inequality: Is It Good For Everyone? serves to also point out that economic success and greater productivity is linked to “income inequality”. Although it may seem extremely unfair for someone to make up to two hundred and fifty times as much money as someone else, this notion of “income inequality” actually benefits the society as a whole by encouraging others to work much harder in life and better themselves and their education. For example, the increase of income inequality in the 1980’s greatly increased the education for both women and men and other races such as African Americans.
If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out. If America raises the minimum wage to $9.00, it will help people in need or in poverty, but it also won’t hurt people in the workforce. If you increase the minimum wage to $15.00 it will make unemployment rates go high up. Which in the process, makes the homelessness rates go up in the country and in your community. If you keep the minimum wage at $7.25 people will stay in poverty and homeless or on the verge of homelessness.
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
“Just nine percent of students from the lowest income quartile graduate with a bachelor 's degree by age twenty four, compared to seventy seven percent for the top income quartile” (Feldman n.pg.). College is becoming unrealistic for several students across America because of the outrageous prices that continue to increase. While some people believe college is a reasonable price due to the fact that it is a necessary piece of qualifying for higher paying jobs, it is unfair. As a matter of fact, wealthy students are now being offered a wider range of opportunities than others, not on the grounds that they have increased knowledge, but because their parents have additional money. All students have the right to an education with persistent work,
According to thebalance.com, “The fact that more students than ever are attempting to get a college degree allows colleges to be aggressive in how they price their tuition They do not have to worry about scaring off a few students with high prices because there are plenty of others willing to pay full fare. This demand is welcomed by schools since it allows them to expand their programs, add amenities, and raise staff salaries”. The baby boom group born between 1988 and 1995 have flooded colleges with demand for a limited number of spots, and that’s one reason why college costs increased. Forbes also states that Part of the issue is due to the tenure policy at colleges. Most of those who attend college now are
Being a successful person will help you to know more new friends which will help you to think more widely. Saving money might save you from many serious. Many people are facing problems almost each day of their life, these problems might only be solved with money, so you will be very thankful that you saved money. Saving money doesn’t necessary needs an adult person gets a high salary. The young people also can save money each moth even it does not worth it but one day it will be a high amount of money.
A minimum wage that is set above the equilibrium wage rate is said to be binding, while a minimum that is below the wage rate is non-binding, and has no effect in the market equilibrium. Because the equilibrium rate is legal in the case of a non-binding minimum wage, we will focus on the binding minimum wage which has an effect on the labour market. Our model assumption is thus that a government will only impose a minimum wage that is above the market clearing level. The effect of an increase in real wage on quantity of labour supplied implies that more individuals will be willing to work if the market salary is higher. In other words, individuals who operate outside the workplace will now be attracted to labour market because of the advantages it offers following minimum wage increase.
I think that paying student should happen because if we get paid we have more motivation to do the work and have more reasons to do better. Every year 1.2 million people drop out of school because of no motivation. Plus if we save up we can pay for college. If we have motivation we have more control of our grades. For example if we get paid we will focus more at school more than we would if we didn 't get paid because most kids love money and if they get paid they will think of school as an actual job.
In theory, raising the minimum wage would lessen America’s dependence on such benefits. If workers are making more money, Hanauer says that workers are spending more, and increasing the demand for more workers as opposed to cutting jobs. Hanauer closes his essay by telling the reader to see the economy as Henry Ford did; an effective economy is one that works for all not just part of the country. ANALYSIS: After reading Nicolas Hanauer’s essay on raising the minimum wage to $15 an hour, I take an affirmative stance on this issue. The main reason for siding with Hanauer is that he is thinking about how many people can get an upper hand with a wage increase.
If minimum wage is increased the more money the typical american will have on spending money and they will have more money to put into businesses across the country. In a study performed in 2011 by Chicago Federal Reserve Bank it showed that every dollar added to a person 's minimum wage they spent $2800 more in additional consumer spending. Workers who earn more than minimum wage will also see increases in their salaries. This is because minimum wage is seen as the base number from which their wages are calculated so if the base number is raised their salaries will be arranged. The opposing arguments about raising minimum wage is the increase will force a strain on companies and force them to slash jobs.
Minimum wage is the least amount of money per hour that employers are required to pay according to the law. The minimum wage is set to be the standard of living. Due to inflation, $7.25 an hour has become less than the minimum necessary, causing many Americans to fall well below the poverty line. The government should raise minimum wage to create more job opportunities, decrease government assistance, and increase the economy overall. The economy will raise as a whole when workers put their money back into the community.
Action War Room/Think Progress, April 4, 2014 gives ten reason for raising the minimum wage such as, it will put money into hard- working Americans, reduce income inequality, get people off of food stamps, save the government, would not cause prices to go up, improve people’s economic security, businesses would also gain, children would be secure, will left people out of poverty, would not hurt job creation, and would help people support themselves instead of relying on the government and hand-outs. In a State of the Union Address January 20, 2016 President Barack Obama express to congress the importance of raising the minimum wage for all hard-working Americans when his said to Congress and I quote “Of, nothing helps families make ends meet like higher wages…and to everyone in this Congress who still refuses to raise the minimum wage, I say this: If you truly believe you could work full-time and support a family on less than $15,000 a year, go try it. If not, vote to give millions of the hardest-working people in America a raise.” and since 2013 18 states have already passed laws to increase the minimum wage, helping millions of
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.