Increasing Minimum Wage Research Paper

It is very important to look beyond the workers that will be affected directly by raise of the minimum wage. Instead, look how it affects every single group in the work force.

The topic of raising the minimum wage has many different viewpoints. It is thought to be affected negatively and positively. Some believe it increases unemployment and poverty. Others believe it creates jobs, helps the economy and low-income families by giving them more money to give back to the economy.

The people that would take the biggest blow are the stake holders of large corporate companies that would have to raise the cost of employee wages if the minimum wage were to be raised. If a corporation with 10,000 employees working forty hours a week had to give their employees a fifty cent raise, they would lose over ten million dollars a year. Now I do not know about you, but if I had a company and I was about to lose ten million dollars a year I would be trying to compensate for it. Wilson (1999), states that if the federal minimum wage were to be raised companies might respond in such a way that may cost employees their fringe benefits. They would lose hours, medical benefits, yearly bonuses and merit based raises.

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

This has been a discussion for the ages. The debate over raising the minimum wage has been a hot topic. Raising minimum wage would reduce poverty, be better for lower paid workers, and to reduce expense for social programs.

The federal minimum wage law was signed in 1938 by President Franklin Roosevelt in order to keep people out of poverty and increase consumer purchasing power. This has done the opposite by hurting businesses and reducing employment, while minimum wages go up, so will the costs of living. Most of the people working for minimum wage are 16 between 24 years old, 37% of workers are going to school working part time. Enrollment tuition has increased over the years, and raising the minimum wage could mean further increasing expenses. But, for people who aren 't pursuing an education and begin working right out of school, the federal minimum wage $7.25 looks like it can be hard to live on. Raising the minimum wage would most likely increase with the cost of living, making cost of living or tuition even more expensive, making it harder to pay for groceries or bills. Just because someone starts out at a minimum wage job, doesn 't mean they can 't progress through the company and earn a better wage over the years. Minimum wages are more for entry level paying jobs that don 't require any certain set of skills to be able to do what they ask. Maintaining the current federal minimum wage of $7.25 will help stop rise of inflation.

Increasing the minimum wage causes middle class Americans have less money in their pockets to spend. Representatives of both businesses and charities have almost unanimously stated that they will be forced to reduce their hours and staff size to conform to the wage increase (Englander). The risk of getting laid off or getting your hours cut because of a wage increase is ludicrous, considering said increase is meant to benefit those same people. San Francisco has recently increased their minimum wage to $15 an hour, and is starting to struggle to support it. The number of households in the area earning less than $25,000 a year is steadily growing,

Should minimum wage be raised? Minimum wage should be raised because we want a town filled with

Raising the minimum wage would hurt the less fortunate families. It spreads income unevenly. Some people would receive more pay and others would lose their jobs making families and the economy suffer. If someone have a minimum wage job that pays $5.15 it is better than no job at $6.00 (Henderson). If someone has a job that does not pay well be thankful for it, it still provides for the

The impact of raising the minimum wage would be good but i disagree the reason why is if the minimum wage go up businesses will have less workers and the prices will go up on everything like gas , clothes , shoes , food , rent etc. and for people it will affect them because it won’t be a lot of jobs and there and it would not be ok cause more people will be homeless and not have the money to take care of themselves or their families.They created minimum wage in 1938 it was a law to pay legally to works with a certain jobs.

If minimum wage was to increase so would the prices Americans will be forced to pay for goods and services. Businesses do not want to lose any money that they could potentially be making. They will do anything they can to prevent a loss of income. If Congress was to increase the requirement of pay, Americans would quickly see the prices increase. A 2015 Purdue University study found that raising the wage of fast food restaurant employees to $15 or $22 per hour would result in a price increase of 4.3% and 25%. With prices increasing, people won’t be buying businesses products because they may see it as too expensive. If the people who had a raise in

Minimum wages is major issue that middle and lower-income workers face today. It is the smallest amount of money that an employer must pay to his workers by law. The establishment of the law was in 1938 and it was called the Fair Labor Standard Act. Many hourly paid workers are protesting in almost every state in the US to raising the minimum wages. However, my adversary like some Republicans would say that the raising the minimum wage would hurt the economy that was already fragile. The point that they are making is understandable, however, the minimum wages should still be raised because of many reasons. Raising the minimum wages will help many hourly worker including low-income families, single mothers

Employees are not making any money as supposed to some because they 've been fired. Unemployment will definitely increase, leaving the people the minimum wage is supposed to help jobless. Fox News host Neil Cavuto said that, “a $15 hourly minimum would absolutely kill jobs, and that 15 percent to 20 percent of small businesses would go away.”(Toon) Business would “go away” since they can’t pay workers. The US definitely does not want a high unemployment rate, which is

As stated, “...the minimum wage increases have put an extra $1 billion into workers’ pockets, according to The Fairness Project, a non-profit organization that helped lead the ballot proposals last year. By the end of the year, that figure will rise to $3 billion” (Source A). Increasing minimum wage even just by a dollar, could help workers tremendously throughout their everyday lives. This could help the economy because low wage workers would have extra money, causing them to invest in more things. Also, “A raise in the federal minimum wage would also increase the number of Americans living in the 10th percentile income bracket. And these are just the short term effects...Over time, this 39% increase in the federal minimum wage would result in a reduction of impoverished people by 6.8 million” (Source B). Many Americans will be living with a suitable income. This will help improve a decrease impoverishment in America. Lastly, roughly 1,408 workers who are 25 years or older, 1,013 are below minimum wage (Source C). An enormous amount of low wage workers who are only limited to a high school education, are being paid below the federal minimum wage. This could make financial living extremely difficult for

The most prevalent and steadfast myth surrounding the raising of the federal minimum wage is that it will doom the economy. This might seem logical at first, but just think about it for a second. Why do minimum wage employees need more cash? The answer is simple: To spend it, to buy the things that they and their families need to survive. “Most minimum wage workers need this income to make ends meet and spend it quickly, boosting the economy. Research indicates that for every $1 added to the minimum wage, low-wage worker households spent an additional $2,800 the following year” (Fair). Furthermore, EPI estimates that if the federal minimum wage were raised to $10.10 an hour, it would result in over