Should the minimum wage be raised? This question is the question being asked by millions across the United States. Most people will say yes, however, an economist will most likely say no. This is a very important subject and what the people of the United States should be compelled to notice as well as take action on the minimum wage. In the United States, 3 million people make less than the federal minimum wage. Furthermore, with over 60 million people living in the lower middle class the minimum wage is not high enough. That's why the minimum wage should be raised to $15 an hour because CEO's support it as well as it presents a living wage.
Ceo’s are usually thought as the people that don't support the minimum wage. The truth ceos actually do support the raise of the minimum wage.“Among the most interesting findings: 80 percent of respondents said they supported
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They are against it because it will apparently kill jobs and hurt businesses.In November Wal-Mart announced a 10% decline in earnings per share, for the fiscal year's third quarter. Higher wages were "by far the biggest driver of the decline in consolidated operating income"(Puzder A,2015,PG.1) Increasing the minimum wage declined earning per share, showing how raising the minimum wage hurts companies. Walmart was able to take a risk to increase the minimum wage for it’s employees,by doing this they took a lost but they are still able to operate and pay for everything. ‘The federal minimum wage already lags behind what people need," Gebrselassie said. "A $7.25 minimum wage does not cut it. It's unconscionable. You can't survive on $15,000 a year."(Jarvie, J.,2016, PG.1)The people that oppose the minimum wage only do it for the business they haven't actually met the people that are making the minimum wage. They haven't seen the struggles that they are going through, big companies only want the money to themselves not the
Rex Huppke writes, correctly, that raising the minimum wage is a complex issue. The majority of Americans agree to higher minimum wage, most being Democrats, while many owners believe that we should keep it the same. He says that people like to raise the minimum wage because “[I]t appeals to people, and it sounds like the right thing to do” (146).
Imagine a single mother who has has the task of taking care of multiple children, all on a minimum wage budget. This mother’s mind is overwhelmed with worries. Will she be able to pay next month's rent? WIll she be able to put food on the table for all of her children. The single mother lives each and every day with this anxiety, and even with government assistance: Is it enough to live comfortably?
A big debate in today's world is whether or not the federal minimum wage should be raised or it should stay the same. There are many reasons it's should not be raised. If it is kept the same it will be more beneficial than having it raised.
The case against raising the minimum wage is very simple: a higher wage will make it more difficult and expensive to companies to hire workers. What will be the consequences on the economy? Well, companies won’t be able to pay all of its workers which will lead to more unemployment. At the end, people who keep their job will have a higher profit, however those who lose their job will suffer.
There are many employees who find themselves working full-time for what the government has so generously termed the “minimum wage”. In Missouri, the minimum wage has been set at a rather appalling $7.65 per hour while in other states there are wages starting as high as $10. Though arguably the economy is not as sluggish and terrible as it once was, $7.65 per hour will not help those who have children, no college degree and debts to pay. It is not only Missouri that has minimum wage laws, but every other state in America has minimum wage laws in place. Both California and Seattle recently established a plan that would see their minimum wages rise to $15 by 2021. The question for all the other forty-eight states remains, should the minimum wage be raised?
Should the minimum wage increased to $10.10 an hour? This has increased over the years and everyone has their opinions. Those who are in favor of increasing minimum wage to $10.10 believe that more money will decrease poverty and the unemployment rate. Those who oppose the increase in the minimum wage, believe that it should not be increased and should stay the same, because it will cause businesses to close up because they are not making enough money to survive in the economy An increase in minimum wage would have to make the employees work harder to make increase sales of the business. I believe that the minimum wage should not increase to $10.10.
The minimum wage debate has been a hot topic over the past year, especially with the Presidential Election. This is a divisive topic that people rarely agree upon. There are essentially two sides you can take when it comes to this argument. Either people are for minimum wage or are against raising, or even having, a minimum wage. Proponents of the minimum wage are typically politicians who are lobbying for the vote of the people who feel that a minimum wage is critical to their wellbeing, and those who sympathize with people who earn “minimum wage”. Minimum wage is destroying America’s free market economy and someone needs to take action and find a better solution to this problem. Without anyone acting on this problem now, it can potentially be worse in the long run. Raising the minimum wage in the United States will do more harm than good to society because of the long-term effects.
I support the national minimum wage. I think the minimum wage standard set a baseline for the fairness of pay. Without wage standard, workers can be subject to abuse that may lead to exploitation. There are many people today that count on the minimum wage to help them meet basic human necessity such as food, shelter, and clothing. These workers are the unskilled and the less educated of society. In fact, they are probably the most hardworking people in our society. Policy makers would often take an example of families who work two or three jobs to meet ends meet to justify why minimum wage should increase to lift these families out of their situation. What policy makers fail to realize is that no matter how much you increase the minimum
The topic on whether the minimum wage should be increased our untouched has been a hot topic in the media and political scene lately. Both the republicans and democrats have spent some big bucks lobbying their insights on the matter. There has been a lot of subjective and objective arguments that are reasonable on both the pros and cons of increasing our national minimum wage. To add to the drama associated with this topic, President Obama endorsed a bill proposing a nearly 40% rise from $7.25 to $10.10 per hour. The President has been campaigning around the country ever since his State of the Union address, pushing congress to raise the minimum wage to $10.10 an hour. Many say this is too high due to the costs of enacting such an increase, and many say this is a little low due to the increased cost of living. After looking into both sides of this debate, I realize that overall it would be better for the well-being of our nation to increase the minimum wage due to the short term and long term costs that an increase of the minimum wage could lead to. In terms of helping out the lower class and poor citizens of the United States, increasing the minimum wage level is not the answer.
"No family gets rich from earning the minimum wage. In fact, the current minimum wage does not even lift a family out of poverty."
CEOs are feeling the political and economic pressure and would not want to pay their minimum wage employees a wage higher than minimum wage. CEOs would not want to pay their employees minimum wage for a variety of reasons. One it would case a spike in their overall goods and cause them to have to lower expenses elsewhere (Long, 2016). For example, Starbucks CEO Kevin Johnson feels that he would need to increase coffee prices to keep up with the minimum wage increase. CEOs also feel that increase in minimum wage would cause a substantial decrease in profit sales. A decrease in profit sales would lead to budget cuts and budget cuts would then lead to having to hire less employees. Secondly, CEOs would not want to pay their employees a
Contrary to these beliefs, I believe that raising the minimum wage will not only benefit the company and employee immensely, but overall increase the productivity of workers. The raising of the minimum wage will help these low income families support their families, which decreases the poverty level too.
Minimum wages go all the way back to 1938, during the great depression, when the stock market crash and bank loan were failing. Families need income of some type, were they wanted to make it fair were individual could get pay the same without a college degree. I am going to start off with a little about minimum wages history and how this could help our Economic.
Should minimum wage be increased? Passage one strongly supports and gives details on why minimum wage should be raised. Many workers are asking for a national minimum wage increase to $15 per hour, while others say that a higher minimum wage will stifle business and ultimately hurt the economy. So, should the minimum wage be increased or not? The federal minimum wage was introduced in 1938 during the Great Depression under President Franklin Delano Roosevelt. It was initially set at $0.25 per hour and has been increased by Congress 22 times, most recently in 2009 when it went from $6.55 to $7.25 an hour. 29 states plus the District of Columbia (DC) have a minimum wage higher than the federal minimum wage. 2,561,000 workers earn the federal minimum wage or below.
The argument for minimum wage has remained remake consistent over the years. Some people are against minimum wage and the other think minimum wage can help you in a certain way. In the midst of the Great Depression, the Unites States federal government passed the Fair Labor Standards Act. The law has been amended almost every year to expand coverage of the wage floor and to increase the wage itself. Many of the fifty states have enacted their own minimum wage laws, some of them set even higher than the federal level. Minimum wage jobs don’t only help adults at hard times it help teenagers and college students. I learned that the proponents for minimum wage believe the raw value of one’s labor to a business