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1.The Topic Chosen For Discussion Since It Is A Current

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1.The topic chosen for discussion since it is a current social issue is the request for an minimum wage increase. Initially, the federal minimum wage was introduced during the Great Depression, which was initially under a dollar per hour (ProCon.org., 2017). The last increase was in 2009 per ProCon.org. (2017), since then it has increased over the course of centuries to the now rate of $7.25 per hour. Research concludes that a minimum wage increase from the rate of $7.25 an hour to $10.10 would create about 85,000 new jobs and would increase household spending by $48 billion, thus boosting GDP and leading to job growth (ProCon.org., 2017).
According to a 2014 Congressional Budget Office report and a 2013 study by University of
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In other words, one can contest that this research stems from a subjective viewpoint only, because the so call “job losses” will happen only if businesses choose to fire or lay people off.
Raising the minimum wage would increase poverty, according to the study from the Federal Reserve Bank of Cleveland (ProCon.org, 2017). The study states that even though a wage increase is given, it does not mean their hours will remain the same or they will continue to be employed (ProCon.org., 2017). Now, from a personal perspective, this seems more politically motivated than forward-moving for society. In fact, it appears to be a threat to keep the increase from happening and to keep low-income workers in poverty. found that although low-income workers see wage increases when the minimum wage is raised, "their hours and employment decline, and the combined effect of these changes is a decline in earned income
Overall, the fight against minimum wage increase, as explained by George Reisman, PhD, Professor Emeritus of Economics at Pepperdine University, "The higher wages are, the higher costs of production are. The higher costs of production are, the higher prices are. The higher prices are, the smaller the quantities of goods and services demanded and the number of workers employed in producing them (ProCon.org., 2017). Clearly, in disagreement with the professor, a thriving company leads
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