The Pros And Cons Of The Minimum Wage

Rex Huppke, a journalist for the Chicago Tribune, deftly discusses the pros and cons of raising the minimum wage in the last of a two-week series in “In the Minimum Wage Debate, Both Sides Make Valid Points”. Although I am for raising the minimum wage, Huppke’s presentation of the opposite argument does make one think beyond the gut reading that everyone deserves more money. Huppke’s argument that a large number of minimum wage earners are student of the elderly leads me to believe that a tier of wages would take care of the issue. For example, anyone working less than 35 hours a week would be paid at a certain rate; with full time getting an increase. I am not concerned by the argument that a higher minimum wage leads to lay-offs or price increases when most products sold in America are manufactured by cheap foreign labor. There is already a huge profit margin that could sustain such an increase. Rather than give discounts on goods and services, thus preventing employees from exercising the right to shop, stay or eat wherever the employee chooses, these employers trap workers into giving back the very money they have “slaved” for.

Minimum wage, designed to lower the amount of people below the poverty line, doesn’t deliver the promises bundled along. Raising the minimum wage depends on the idea that mass majority of people who are living under the poverty line depend solely on the revenue obtained

One of the biggest negative effects of raising the minimum wage is that it would severely hurt small businesses. If the minimum wage were to be raised it would force the owners to pay their employees more money that they might not have. In order to pay the employees the newly raised minimum wage they are gonna have to raise the prices which will lead to the loss of consumers, and might eventually lead to the store going out of business. According to a Gallup poll done in 2013, 60 percent of small-business owners said that raising minimum wage will “hurt small business owners. James Richardson, MBA, Vice President of the fast food chain White Castle, said that the company would be forced to close

Millions of Americans live in poverty unable to find high paying jobs to support themselves and their families. A common belief is that paying a higher minimum wage would help lift people out of poverty by giving those with low paying jobs a higher income, however the evidence suggests otherwise. The 2016 race to the White House heating up, the minimum wage battle is at the forefront of every economic discussion. The rhetoric between candidates within and across party lines is intensifying. Many differing opinions are being heard. As the debate over whether or not to raise the federal minimum wage from $7.25/hour to $15/hour rages on, one side stands apart time and time again.

The federal minimum wage has been in effect since The Great Depression. Recently, it has become a hotly contested issue. Should it be raised or not? The issue is a complicated one because some believe that more harm will come than good and many believe this because majority of people are misinformed on the impact raising minimum wage can have on the American economy and families. According to Cato Institute’s article on Reasons Not to Raise the Minimum Wage, the important or more discussed problems that are argued by antagonist are job loss, higher prices for consumers, and the little effect on reducing poverty. Although these problems seem significant, protagonist will say the war against poverty and income

The issue of raising the minimum wage from $7.25 to $15 an hour is a heavily debated topic. Both sources against or in favor of the minimum wage refer to a “growing gap” between low-income workers and high-income earners. Sources against the minimum wage believe raising it will increase this gap, whereas those in favor of the minimum wage believe it will decrease this gap. The arguments in favor of the minimum wage rely mostly on ethical beliefs, such as “pay should reflect hard work,” to advance the need for a higher minimum wage. Whereas, the arguments against the minimum wage use quantitative data like unemployment rates and economic analysis involving supply and demand to undermine the policy behind the minimum wage. Ultimately, the

There has been many conversations about what the positive impacts can come to America 's lowest income workers as a result of an increase in the minimum wage, and there has also been equally as many discussions over the negative effects the increase can have on similar people. This paper’s purpose is to combine each viewpoint and objectively analyze the arguments for and against an increase in the minimum wage. I will first discuss the benefits for an increase, then the disadvantages, and in the last paragraph, I will

The federal minimum wage has been in effect since The Great Depression. Recently, it has become a hotly contested issue. Should it be raised or not? The issue is a complicated one because some believe that more harm will come than good and many believe this because majority of people are misinformed on the impact raising minimum wage can have on the American economy and families. According to Cato Institute’s article on Reasons Not to Raise the Minimum Wage, the important or more discussed problems that are argued by antagonist are job loss, higher prices for consumers, and the little effect on reducing poverty. Although these problems seem significant, protagonist will say the war against poverty and income

Minimum wage is a contentious issue only because it is debated by a vast and eclectic audience that cares for the heart of the matter. Minimum wage is at the source of the economist 's main interest; in pursuit of discovering its connection to job loss. Countries all around the globe, maintain minimum wage laws without any noticeable fluctuation. For this reason, it is coming to an apparent importance to policy makers everywhere. Those that tend to earn a minimum wage are mainly coming from low income and minority families. The minimum wage has attracted attention from social activists all over as well. The topic is perhaps most intriguing to the average, normal class American. At some time in our long but short lives, almost every single person has been paid at the minimum wage. Due to this, it is of popular debate over dinner, at restaurants, and in the typical American living room. More importantly it’s now being, and sort of always has been discussed by those of our government.

Many families are working multiple jobs or they are relying on the government to help them. Living paycheck to paycheck is no longer a viable way to survive, but there seems no other alternative to this. Kevin Hassett and Michael Strain of the Los Angeles Times, discussed that raising the minimum wage is a bad idea “on the grounds that higher labor costs will lead to higher unemployment” (Hassett). Instead of creating jobs minimum wage will have an adverse effect and companies will reduce their workforce, which will grow the unemployment line (Hassett). When President Obama announced his proposal to increase the minimum wage, he argued that by doing so, it would alleviate poverty and boost the economy. The president was making the country pay attention to the fact that the poor had been suffering for years, as the nation faced a tough economy, and that families should earn a wage that would take them out of poverty. But many conservatives believed that increasing the minimum wage was not going to accomplish this goal. Many people who live in poverty do not work, and so would not be affected by a wage increase. In addition, most workers who earn the minimum wage are generally not the main bread winner in the household. They are the students just joining the workforce and working their first job in high school or college, and it is the elderly looking to fill in some time and earn some extra retirement income (Hassett). “Data taken from the Bureau

Minimum wage has become a major part of the conversation on labor. The base hourly rate in this country is something that has been raised to $7.25 federally and can become as high as $9 in some states. This is important social policy because it deals with the distribution of wealth particularly with lower class workers. Part of the discussion about minimum wage is whether or not someone can make a decent living on it. Talks of subsidization and supplementation have always surrounded minimum wage talks. The idea is to make sure that on a full-time schedule at minimum wage, someone can afford housing, food, and clothing. With those things taken into account, lawmakers have debated whether or not to raise

In economic times similar to what the U.S. has experienced from 2007 to 2014 the challenge of dropping a twenty-five plus percent minimum wage increase is detrimental to small business profitability. In 2012 addition of Business Week the article titled, “Why a minimum wage increase divides small business” author Karen Klien stated “When you are faced with 10 employees in a low-profit business you put your money into increasing wages of you best employees and hiring is suppressed." Further, the article goes on to say the fact of retaining the best employees is the focus, thereby reducing part-time employee’s hours to meet the minimum wage requirements (2012). The reduction of hours for part-time further strains the working poor and thus the minimum wage has a limited if any impact on the reduction of poverty.

Let’s allow ourselves a moment to take into account the amount of employees in the United States who are minimum wage earners. To some of these earners, a higher-paying wage would assist them in many different ways. Minimum wage is a source of money that has been around for approximately 80 years. Back then, wages by the hour lead up to wages received cumulatively by the week, month or even year, and that still applies to us today. Congress has raised minimum wages in different ways, countless number of times. It’s already even planned for wages to further increase in the years to come. The argument about whether minimum wage amounts should be increased or decreased has generated much discussion. Nevertheless, it’s rendered significant in importance because minimum wage can be anybody’s source of important income.

There has been many conversations about what the positive impacts can come to America 's lowest income workers as a result of an increase in the minimum wage, and there has also been equally as many discussions over the negative effects the increase can have on similar people. This paper’s purpose is to combine each viewpoint and objectively analyze the arguments for and against an increase in the minimum wage. I will first discuss the

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.