Andrew Cuomo Raising Minimum Wage

Some supporters of raising the minimum wage to fifteen dollars an hour argue that raising the minimum in all states will help equalize the distribution of wealth. Andrew G. Biggs, PhD, and Mark J. Perry, PhD found that raising the minimum wage to fifteen an hour will affect the poorest areas the most. In areas where income and costs of living are relatively low they will be way more affected than somewhere like Hawaii, where cost of living is more expensive. Lucas Hall, founder of Landlordology.com stated that raising minimum wage will also increase house prices. People will have more money to for their places, causing landlords to raise prices. The New York

In a 2015 survey conducted by The New York Times and CBS News, 71% of people surveyed believed the minimum wage should be raised to $10.10 (Should The Federal). The minimum wage has been increased by congress 22 times since 1938 and was last updated to $7.25 on July 24, 2009 (Minimum Wage). 3.3% of workers in the United States get paid the minimum wage or lower (Background of). A federal minimum wage hike would lower poverty levels, decrease spending on government assistance, and increase productivity in jobs.

While all of California will have the same increase in prices besides small businesses makes sense because there will be economic crisis if the small businesses have to comply with high wages. Similarly, if New York state allows on New York City to first go through the higher wages before the whole state is put under the effect, there will be less chances of economical crisis as it allows for the state to flourish gradually for the better instead of jeopardizing the whole state if it was put into effect all at once. In fact, in the article, “California, New York Governors Sign Minimum Wage Increase Into Law” by Alejandro Lazo and Erica Orden, it states how the governor of California, Jerry Brown, will pass a bill in which he is allowed to give “businesses more time to adjust to increases, and gives a governor the ability to postpone increases in case of a recession or budgetary downfall”. This will help stabilize the increasing wages and the economy of the state. Also, the family plan that New York is willing to implement is also a great strategy of helping out the state not only economically but socially where society will be affected for the better as parents will have more money to take care of their children and be able to support

With the minimum wage set at $7.25 dollars per hour many people are struggling to make do. The average cost of living in America is too much for people, who make minimum wage, to make ends meet. It’s thought that raising the minimum wage will have a negative effect on the unemployment rate but there has been no evidence of that. The value of the minimum wage has dropped immensely since 1960. Raising the minimum wage will be beneficial to America and its citizens. In 1968 the minimum wage was equal to $10.74 today. That means in 50 years the purchasing power of the minimum wage has diminished. From the end of WWII upto 1968 minimum wage was on pace with the average worker productivity rate. If this trend was true from 1968 to today and worker

Minimum wage is the minimum hourly wage an employee can be paid from their employer. The federal minimum wage is set at seven dollars and twenty-five cents an hour in the state of Mississippi. Some states have chosen to raise their minimum wage higher than federal requires. San Francisco, CA, has the highest minimum wage fixed at ten dollars and fifty-five cents. Even though, some states have a higher minimum wage than others. The Fair Labor Standards Act entails every employee to be paid the same amount. If minimum wage was to be raised, it would have advantages and disadvantages.

A very controversial yet interesting issue today in the United States is minimum wage if it should be increased or not. While some want to raise minimum wage to the living wage, minimum wage should not be raised because it increases low skilled worker unemployment, increases the Cost of goods/services,and Cuts back on work hours.

On November 9th, the voters of Maine chose to boost the states minimum wage. Raising the minimum wage intends to increase the living standard of low-level and low-skilled workers, specifically in service-sector jobs. However, sometimes it hurts the people it intends to help. Many economists have debated what the minimum wage should be that would benefit both the economy and society. Starting with John Maynard Keynes, economists have argued about the minimum wage for decades. Traditional economists argued that the labor market is in balance at equilibrium, however, Keynes argued that settling at equilibrium would not improve the labor market situation or properly stimulate aggregate demand.

In the article “ What a $ 15 Minimum Wage Would Mean for Your City” by Noam Scheiber. In the article he talks about if minimum wage is increased to $15 the wage floor can rise before it can be reduced employment and it should be hurts the economy. Recently in New York state to settle to increase the minimum wages for workers at fast-food restaurant to increase $15 an hour. However, New York is the expensive state in the US, because of high wages and high cost of living, it’s may be one thing to increase the wage. Economist should believe that the higher the minimum wage ratio, the greater risk of job losses. Because of the business people have to pay more money to the employee rather than to get the more profit from their own pocket, it could

Minimum wage is the minimum hourly wage an employer can pay an employee for work. Minimum wage helps people pay for things they use or need every day like food, clothes, and their homes. In some cases and for certain people the the federal minimum wage is not high enough for them to live on. In this paper I will argue that minimum wage should be increased to benefit people in a variety of ways, both socially and economically. Increasing minimum wage will also help cut down on government spending and pull people out of poverty.

In my opinion, the minimum wage is absolutely necessary. Whenever there are talks of raising it, however, many are appalled by the notion, but, people rarely argue that their employer should pay them less. The minimum wage today is too small and should be raised to a more reasonable amount.

“No person can maximize the American Dream on minimum wage” (Todd). For several years, minimum wage has been an issue among the citizens and politicians in agreeing on the exact value. This is based on the reason that minimum wage determines living standards for the population as well as the economy of a country at large. Minimum wage is regarded as the lowest level of remuneration that employers are needed to pay their workers under various legal jurisdictions. Currently, almost every person in the US including the wealthy, middle income and the poor have a great urge for having an increased pay per hour due to the current economic demands. Therefore, based on the needs of the populations and looking at recent economic studies and research,

In today’s society it’s expensive to live in New York and getting by day by day is very difficult if you are living on minimum wage. Of course it’s more difficult for some people than others depending on their situation and their living conditions. Americans and working class people who do come to America for a “ better opportunity” and for the famous American dream struggle. Minimum wage should be increased because of the overqualified, educated, and experienced Americans who are relying on minimum wage jobs as a result of the struggling economy. Raising minimum wage will help employees sustain themselves with a better salary.

If the minimum wage is above the equilibrium level, the quantity of labour supplied exceeds the quantity demanded. The result is unemployment. The minimum wage then raises the income of those workers who have jobs, but it lowers the incomes of those workers that cannot find jobs. Workers with high skills and much experience are not affected, because their equilibrium wages are well above the minimum. An example of a price ceiling is rent control. The goal of this policy is to help the poor by making housing more affordable.1/ 2

In the United States, minimum wage has remained at a low number for several years. Minimum wage is defined as the lowest possible income that an employer can legally pay an employee. This ensures that all people are fairly paid and not defrauded by companies or businesses. Minimum wage is considered a price floor and the minimum wage laws determine the lowest price possible that any employer must pay for labor. In an economic model, the quantity of supplied is greater than the quantity demanded and the minimum wage is above equilibrium price and quantity. Minimum wage prevents labor supplied and labor demanded from moving

New York is another state that plans to raise the minimum wage to $15. According to a study conducted by the UC Berkeley Labor Center, the minimum wage raise would generate a 23.4 percent wage increase for 3.16 million New York workers. (Michael Reich et al). The standard of living, purchasing power, and productivity