Essay On Minimum Wage

Before people push a minimum wage increase, they need to be totally aware of all of the positive and negative results and consequences that might occur as a result. The issue concerning what to do about the minimum wage has served as an ongoing controversy amongst several people. The federal minimum wage should not be raised for several reasons including the harmful effect on small businesses, the increase of poverty, and the augmentation of competition for jobs.

Raising the minimum wage is a very important public policy issue. Raising the minimum wage is a responsible policy that is supported by research and demanded by the American public. Each day, minimum wage workers across the country struggle to make ends meet and provide a decent life for their kids (Scott & Perez, 2016). Raising the minimum wage is a controversial issue, many believe that raising the minimum wage would only provide low wage workers more money to spend. However, the benefits can be endless for low wage workers. If minimum wage is increased across the United States it would afford the people effected more opportunities for financial freedom. Increasing the minimum wage would raise the standard of living for low wage workers, allow families to be removed from poverty, allow for government welfare spending to be reduced and lastly additional income being spent would positively affect the economy.

The minimum wage is one of the most controversial issues on our country, which is United States has been facing last ten years. There have been never ending debates over this issue until the government, company, and others party stand together, and raise the minimum wage throughout the nations. There are communities that believe raise the minimum wage has negative impact of every sector of the country. Other communities have different beliefs over the issue, raising the minimum wage helps the poor people, and would help not hurt our economy.

The controversy over minimum wage has been ongoing. However, as explained in a Time article by Chris Lu on the subject, now is the prime time to raise the federal minimum wage. “Three out of four Americans support an increase; the economy is healthy; and many employers are already raising wages.” It’s reasonable to be worried about the consequences that raising the minimum wage might have in a time of crisis or unrest, but this quote mentions a healthy economy that would be able to handle the shifts in wages if things went south temporarily. Another argument made by opposers of raising the minimum is that businesses will be unable to survive. On the contrary, a good business will find it beneficial. “‘It’s a simple, but critical, concept: take care of your people and they will take care of your customers.’ For &pizza, higher wages reduce employee turnover, increase productivity and improve customer service.” Rather than hurting the economy, raising the minimum wage will help workers, business owners and the economy itself. A higher wage for all is

According to Daniel Tencer’s article “Too-Fast Minimum Wage Hike Will Cost Ontario 90,000 Jobs: TD Bank” (2017) on huffpost website, thousands of people might lose their jobs by 2020 as the result of today’s minimum wage hike. Some economists claim that it ‘can potentially generate more benefits to society than costs in terms of any resulting job loss’ (2017) while others concern about short period of time allotted on making these changes. As for minimum wage in the coming years, it will be $14 per hour in January 2018 and $15 in 2019. The author also stated that not only Ontario is planning to raise minimum wage, but also Alberta will increase it to $15 per hour. Furthermore, even though government says that there will be a ‘positive household

The current minimum wage is $7.25, which equals two gallons of milk, one fast food meal or two gallons of gas. Can you imagine yourself working 12-hours a day and only having enough money to pay for rent and put food on the table for your family? With working all those long hours, you can barely afford to pay your utility bills and after that you don’t have enough money or time for luxuries like clothing or vacation. You have no savings as matter of fact, you are in a huge debt and you are living paycheck to paycheck. This is the story of millions of American worker, who are employed on minimum wage. The shocking part about this story is that million of Americans would be saved from this poverty life, if the American government raises the minimum wage. This would not only help the workers, but also the economy because raising the minimum wage would put extra money in the pocket of minimum wage worker and extra spending would help restore consumer spending.

With a higher rate, students can save more money helping with later on expenses. These students will be able to look into their future but, this time, with less debt due to student loans. Increasing the minimum wage will take off a burden for student loans, country-wide.

the minimum wage was raised down to 11.04 an hour which in total of growth of jobs is 2.2 million job hiring

At the start of October 2016, the minimum wage will be rising throughout most provinces: Employees will receive a higher rate per hour. For example, Ontario’s minimum wage rises from $11.25 to $11.40 per hour; creating, a 1.3% inflation. However, there are other elements which contradict the minimum wage increase: transport, healthcare, education, shelter and many more components towards living in Canada

Changing the minimum wage is a common debate and many politicians argue if the wage should or should not be raised. The minimum wage is an example of a price floor and is the lowest legal wage that can be paid to many workers. With the increase in jobs, it is shown that more people will vote for those in favor of raising the minimum wage in the upcoming presidential election. I have to agree for I believe that an increase in the minimum wage is good for the economy. Boosting the minimum wage will help increase the consumer spending that stimulates our economy and that local businesses need to grow. Realistically, if the majority of voters think that the minimum wage is too low, then it will be raised. While some people think that the minimum wage should be raised, others do not. If more people vote in favor of keeping the minimum wage at the same rate, then it will remain at that price until the majority of the people vote in favor of a change.

An increasing minimum wage in the workplace have both an economic gain for the company, and will produce a productive and dedicated worker. Not only will a company have dedicated skilled workers if they raise the minimum wage, but

The three major stakeholders in an economic environment include the consumers, the businesses and the government. To achieve a thriving economy, Canada’s economic system has three primary goals: economic growth, economic stability, and employment. At any rate, the economy is complicated subject with many affecting factors, and minimum wage being an especially contentious one. There are definitive tradeoffs in increasing minimum wage from $11.40 to $15 an hour in Ontario.

There have been many questions raised about increasing the minimum wage in the United States but not many people have the knowledge to understand how their lives will be affected. People are more concerned about increasing the minimum wage into living wage. Everyone should be educated and have concerns about the politics of raising minimum wage to a living wage.

From an early age, kids are taught that they have to go to university to receive a job. That they need basic skills learned in school to have a level of comprehension in the job. Then the search begins for the perfect job. While companies are eagerly waiting to refresh the line-up of workers for new, fresh faces into their organization, the question of how much they pay is highlighted. Thereby, the degree of pay a person can accumulate from a job is handled by the Government and not the companies. It has been agreed upon that in Ontario “The general minimum wage rises to $11.25 an hour, from $11” (Herhalt, 2015, para.2). Obviously there is a decision to be made of how many new employees to be hired. To companies this is the price to do business in the future while employees view this as their monetary income. Alas the conundrum appears, do companies view minimum wage as an investment or a cost to the organization. There are both positive and negative standpoints to this issue. And the best way to understand them is to divulge them into two separate stances. From a company and employee standpoint to bridge their perspectives of the ideal of minimum-wage into an agreed-upon consensus. I will demonstrate how the minimum wage is both an investment and cost by looking into the positives and negatives from both sides of the job.

Having the prices raised will stop families from driving to their jobs because a lot of the time it will cost them more to drive there and back then what they are making ones a month.