The topic of raising the minimum wage has many different viewpoints. It is thought to be affected negatively and positively. Some believe it increases unemployment and poverty. Others believe it creates jobs, helps the economy and low-income families by giving them more money to give back to the economy. Doug Hall, director of the Economic Analysis and Research Network and David Cooper, Economic Analyst at the Economic Policy Institute, expressed how the increase in minimum wage affects certain genders, families, education backgrounds, ages, and the economy (Hall & Cooper, 2014). It is said that the increase mainly affects women with a compromising percentage of 54.5 (Hall & Cooper, 2014). It affects at least 20 year olds and mostly white workers. The increase in minimum wage also affects workers with a college degree or higher more than those with a high school diploma. It also affects low to moderate-income families and those who work full time. Hall and Cooper believe that the rise in minimum wage will not cause job losses, but create jobs. They also believe that the workers will spend their extra earnings and those who make close to but higher than the minimum wage will, “receive boost in earnings due to “spillover” effect, giving them more to spend on necessities” (Hall & Cooper, 2014). They believe this will help with economic growth. Holly Skylar, Director of Let Justice Roll Living Wage Campaign, which is an organization that seeks to raise minimum wage, believes
The impact of raising the minimum wage would be good but i disagree the reason why is if the minimum wage go up businesses will have less workers and the prices will go up on everything like gas , clothes , shoes , food , rent etc. and for people it will affect them because it won’t be a lot of jobs and there and it would not be ok cause more people will be homeless and not have the money to take care of themselves or their families.They created minimum wage in 1938 it was a law to pay legally to works with a certain jobs.
By raising the minimum wage some people will no longer live below the poverty line, the amount of consumer spending will increase and more people will be in better health.
Raising the minimum wage would establish 85,000 new jobs and would also increase amass household spending by $48 billion the following year (“Should the Federal”). There are no signals shown that a boost in the minimum wage would lower employment. Even though people argue that the authors found “Little or no evidence of negative association
When there are millions of Americans living at or below poverty lines, something has to be done. Billion dollar companies and businesses that employ workers, paying them low wages is hurting the economy. The reality is, unless the minimum wage is raised, the cycle will only continue. With higher minimum wages in place, the entire country does better and, therefore, should be raised. There needs to be laws put place to raise the minimum wage. Doing so would boost the economy with all of the money that Americans would put into it. With higher minimum wages, millions of Americans can get out of poverty, not having to rely on the government for assistance such as food stamps, public housing, child care, and health care needs. They can afford better housing options in which they want to live. Communities would see less crimes in neighborhoods creating a safer environment. Aside from that, Americans can afford a good education, health care, as well as healthier eating and exercising habits.
America is a place where the people strive to create equal opportunities in every avenue of life. Every American should have unrestricted access to the options presented before them, allowing them to pursue their life goals and die happy deaths. However, this principle only stands for access to options, it has nothing to do with the advantages and disadvantages of said choices. The American dream is the idea that if you work hard enough, persevere, and really believe in yourself, good things will come. Drastically raising the minimum wage goes against all of those principles, rewarding lethargic actions and poor life choices. Raising the minimum wage to $15 will do more harm than good for middle class americans by decreasing the value of the money in their pockets, driving out big companies, and generally increasing unemployment.
Raise the minimum wage: In the United States, studies show that women tend to make up a disproportionate share of low-wage workers. In the field of education, men tends to go more to STEM than women and that also leads to high paying jobs for men. If we raise the minimum wage, this will help hardworking women to support their families. Approximately, women made up two-thirds of all minimum-wage workers in 2012. With the current federal minimum wage i.e. $7.25 per hour, someone working full time, only earn $15,080 a year round. People working full time with minimum wage is still below the poverty threshold for any family with children and single person is also not far above the poverty line. So, increasing the federal minimum wage to $10.10 an hour would help increase the wages for about 15 million women, which will help close the gender wage gap.
The idea of raising the federal minimum wage that has developed nation wide attention, including protesting and arguments, has caused many discussions on why it could potentially help the economy grow and how it could result in the crash of the economy. Many people feel like raising the federal minimum wage is a must, while others think it will destroy the economy. There are many benefits that come with raising the federal minimum wage, but those benefits also come with many disadvantages.
In the article,”The Negative Effects of Minimum Wage Laws,” embodies the following,”If the government requires that certain workers be paid higher wages, then businesses make adjustments to pay for the added costs, such as reducing hiring, cutting employee work hours, reducing benefits, and charging higher prices.”(Wilson). The raise will only benefit some workers. The working schedules will be changing and hiring rate may decrease depending on the business the low-income workers are at. At this point, the businesses will only obtain skilled, low-income
Political analyst and civil rights activist Benjamin Todd once said: “No person can maximize the American Dream on the minimum wage.” Today, I have chosen to speak on the controversial topic of whether or not the United States should raise the federal minimum wage.
Many argue that raising the minimum wage makes hiring workers more expensive, eliminates jobs at the bottom, slows growth and ultimately raises unemployment. Economic studies show that raising the minimum wage to keep pace with inflation creates little additional harm, but what the president is
On June 16, 1933, President Franklin Delano Roosevelt announced a plan to help raise the United States out of the Great Depression. At the heart of this plan was the idea that wages must be set and fair. “No business which depends for existence on paying less than living wages to its workers has any right to continue in this country.”(Roosevelt) This plan became the Fair Labor Standards Act, which set the Federal Minimum wage. Minimum wage has increased, slowly, over the years, but has not kept up with its intended purpose. Raising the federal minimum wage to a "fair living wage" level will improve the lives of the working poor, without adverse economic consequences.
Raising the minimum wage price would skyrocket school attendance levels and decrease high school dropout rates. A 2014 study found that raising the California minimum wage to $13 an hour would cause the incomes of 7.5 million families to increase, meaning fewer families would live in poverty. This means that teens who live in poverty are two times more likely to miss three-plus days of school per month compared to those who do not miss school. So overall, because of the rise of the minimum wage, it caused families to come out of poverty. This also means that there would be a lower amount of children missing/skipping school. Studies also found that "recent experimental studies show that increasing income can improve school performance." This
The different positive effects that would result from a higher minimum wage are clear. It would rise the earnings of hard working families, and economic growth, to create about 100,000 new jobs. In an economic climate in which wage increases for the most vulnerable employes are unusual, is an opportunity that families in society cannot looseProtecting workers from abuse is something positive about raising the minimum wage because it would help to reduce the abusive, exploitative employees whom take advantage of the currently low minimum wage to seek cut-rate help. Also, it will help people to get out of debt, when you make more money and you still paying the same amount of bills that you were paying before. That extra money can be use to pay
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.
The raising of minimum wage has had the contrast of the effects it's trying to have. By increasing the wage, the statistics have shown things such as unemployment, less hours worked, and automated labor. This then hurts the youth looking for jobs, hurting the economy for the future. Increasing the minimum wage has shown to have negative effects on the economy.