Minimum Wage Lower Or Lower

The case against raising the minimum wage is very simple: a higher wage will make it more difficult and expensive to companies to hire workers. What will be the consequences on the economy? Well, companies won’t be able to pay all of its workers which will lead to more unemployment. At the end, people who keep their job will have a higher profit, however those who lose their job will suffer.

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

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.

Studies have shown that raising the minimum wage since the beginning have found that minimum wage hurts the poor and make the rich even more wealthy. When raising the minimum wage it tends to take away the low skilled and younger worker jobs for college and even high school students. Also, it keeps people on well-fare, and encourages people to drop out of high school. The findings in many articles all say the same thing that I will ultimately be saying in this paper. Raising the minimum wage will not help people, when wages are increased you will see that employment across the nation will decrease exponentially. People that are not well educated like high school dropouts, some criminals that are in the working field and many other teenage workers will all be let go from the current job. In the first year alone, when minimum wage was mandatory, it resulted in 30,000 to 50,000 jobs lost in the first. The facts are out and still happen every year that minimum wage is raised. History speaks for

This article's main objective is to show that raising the minimum wage will not harm the economy, and will actually be good for business. This article gives examples of times in United States’ history where the minimum wage was raised, and actually gave a boost to the economy. One of the main points is that when there is a wage increase, people have more money, and are able to spend it more freely.

It is a good economic policy to increase the minimum wage for low income earners. Increase the minimum will help these individuals get out of poverty, make a good living and afford better health care coverage. In addition increase the minimum wage will help individuals to take care of themselves and stop rely on social program and government assistances. Thus at this point the big concern is to decide how much to increase the minimum wage.

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

Imagine standing over a scorching grill for hours, taking care of the elderly, both lifting and transporting heavy loads, basically doing back breaking work; only to be making less than $8 and hour. That is the reality for millions of people in the work force who are earning minimum wage. Whether or not minimum wage should be raised has been a question many people have been discussing for years and has become quite controversial. Those opposed to increased minimum wages would argue that a minimum wage salary is already sufficient enough, or in some cases even “too high”. In spite of the opposing sides, it is almost certain that a rise in minimum wage will either positively or negatively affect several aspects of the country. For one, an increase in minimum wage could result in an economic shift. Furthermore, the current poverty level within the country, with the help of a higher minimum wage, would either decrease or as a result. Thirdly, a change in poverty levels caused by a higher minimum wage would ultimately change the amount of government spending and those who receive it. Minimum wage being raised would definitely be impactful not only the people receiving those minimum waged salaries, but also the economy, their families, and even the government funding.

Some that oppose raising the federal minimum wage would insist that individuals in specific fields lack experience and skill for such a large wage and that many businesses would have to lay off employees that would result in producing with minimum labor because these businesses cannot afford wage increases. I believe raising the minimum wage would expand overall economic activity generating more jobs and more monetary flow by increasing both supply and demand. If minimum wage was increased, the economizing problem would be slightly reduced and more money back into the market increasing demand and needing more human labor resources to produce a larger supply to fulfill the demand.

A higher minimum wage would mean people would have more money to spend. With people having more money to spend, this allows companies to make even more money. “Having more people working and earning good wages is good not just for the people we help, but for all of us” (Erik Bryn Jolfsson). People earning a respectable amount of money creates a cycle where they spend that money and it goes back to the businesses. Many people believe that a minimum wage increase would hurt those in businesses. “Many critics think that raising the minimum wage will hurt precisely those workers that this policy is designed to help because firms will lay off workers to save on labor costs” (Aaron Pacitti). States that have a higher minimum wage have experienced faster rates of job growth. Not only would minimum wage increase economic activity, it would boost the job growth rate as

However, it’s not all black and white as it seems. When the minimum wage is high, the services that people have to pay might also increase. So, that leaves the employees in a same situation. (Earn more and pay more). The other major problem is, small business will stop hiring people, as they could not afford to pay a higher

Firstly, increasing minimum wage would negatively affect firm’s profits, and this would indirectly lead to decline in employment declining and job losses. Increasing labor costs would aggravate the burden on businesses profits. The marginal cost would go up significantly due to increasing labor costs, and businesses would find ways to protect and maximize their profits like reducing the quality of inputs and final goods or hire less labour than usual. However, raising the minimum wage too much would put a lot of poor people out of work. Businesses would hire fewer workers and replace them with more automation that would lead to more job losses

An increase of minimum wage can cause the effect of not reducing the poverty. It will only cause more problems because if wages go up then that would mean that the less experienced employers may not even get a chance to get a job since all the companies would look for experienced workers that would take it since they will pay them the “big bucks.” Thus, it would mean they would more likely pay them the higher wages than the less experienced causing people to lose more jobs.

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

In our society today, a recent issue that has been on the rise is minimum wage. There’s been many debates about whether the minimum wage should be raised or not. Some argue that it will only do more harm than actually benefit, others believe it will benefit the economy and help lessen poverty. But can a family survive on a minimum wage when healthy food cost more than their budget, or having teens prioritizing work over school because of poverty, should worker be paid for the amount of contribution they give to big company like fast food? All of these are valid reason why minimum wage should be raised.