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.

The action of raising the federal minimum wage has been cast as a necessary change for the United States, and would result in ensuring that America’s workers are able to receive a reasonable living.Though the controversial issue has turned more complex, with many implications beyond just those who bag groceries, flip burgers, and clean offices. The issue is believed to have various pros and cons, and consequently sparking the ongoing debate on to, or to not change to wage.

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

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.

Presently, the citizens of the United States of America are involved in an impassioned debate over the federal minimum wage. As of October 5, 2016, the federal minimum wage is set at seven dollars and twenty-five cents an hour. There are numerous amounts of stakeholders when it comes to minimum wage. The three stakeholders mentioned in this essay will be Companies, Employees, and the Economy. In addition to the stakeholders, this essay will also dig into the history of the United States Federal Minimum Wage and see how it has progressed over the years and if it kept up with inflation over the years. With this information, society will see what an increase to the federal minimum wage will have on the United States economy and labor force.

The seemingly logical idea to raise the minimum wage as a method to increase income in impoverished households is good in theory, however this idea actually harms the exact demographic that it is intended to help. The theory claims that paying higher wages would allow workers to earn more money and raise above the poverty line (Sherk). The side effects of this action make it

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.

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.

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