Minimum Wage Wars

Marx 's conflict theory has a very distinct ideology, it is stated that it mainly focuses on the causes and effect of class conflict between the bourgeoisie and the proletariat. The Bourgeoisie represented the members of a higher society which held onto the majority of the wealth and means also known as the owners of the way of manufacture and the capitalistic. While the proletariat class was constructed by individuals who belong to the working class or the poor. While they would focus on the economical, societal, and governmental implications of the rise of the capitalist economy in Europe. With the rise of the capitalist economy, it was theorized that the bourgeoisie,

Many Americans agree that Congress should raise the federal minimum wage, but do individuals truly know the effects of increasing the minimum wage to $15? Some people only look at the comprehensive view of seeking a higher salary, but the increase can cause many negative, as well as positive, effects. Several economists from across the country have done extensive research over the topic of the minimum wage increase, and many differing opinions have formed. The effects can vary from person to person depending on location and implementations that a business takes. Congress last raised the minimum wage to $7.25 in 2009; consequently, a rise to $15 would implement over a 100% increase in the minimum wage. A percentage this high has never

There is a lot of controversy over whether the minimum wage should be increased to 15$ an hour in all states. Proponents say that current wages in America are not livable because inflation is way higher than the current minimum wage; Minimum wage was 1.60 in 1968, which is equal to 11.60 today. Opponents say that many cannot afford this, will have to close down, make cuts, raise prices and lay off people because they will need to pay them more. Most economists believe that that high of an increase would hurt job growth. I believe that Increasing the minimum wage to fifteen dollars an hour nationwide will do more harm than good. Raising the minimum wage to fifteen dollars an hour nationwide is too big of a jump and would just cause businesses to cut off workers, force small businesses to close and increase inflation.

Everyone agrees that it is time to raise the U.S. Federal Minimum wage, but if we listen to the ‘Fight for 15’ movement and increase it to $15; will that much of an extreme increase hurt more people than it helps? The current U.S. Federal minimum wage is set at $7.25 per hour and was signed into law in 2009 by then President Barrack Obama. An increase to $15 per hour would be more than double the current rate and would have to be implemented in stages or it could have catastrophic consequences for our economy and lower wage workers. The minimum wage is the basis for the wage structure across the states. The population could see a decline in their living standards if the minimum wage

Increasing the minimum wage to $15 per hour will cause more people to be laid off. Labor economist Joseph Sabia of San Diego State University went against the raise of the minimum wage because businesses will start cutting low-skilled workers and their decrease in income will result in poverty. Increase in minimum

The minimum wage debate brings about a range of reactions from different people. There are those who believe that there shouldn’t even be a minimum wage and that wages should be determined by the markets. On the other hand, we have those who vigorously argue for increasing the wage minimum citing inflation, the poverty line and worker productivity. Regardless, we do have a federal minimum wage rate in the United States at $7.25 per hour, with some states having a higher minimum wage than the federal minimum. President Obama, in his first state of the union address of his second term proposed “Tonight, let’s declare that, in the wealthiest nation on Earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9 an hour” (The White House 2013). A year later, he has revised that number to $10.10 per hour after signing an executive order that has already raised the minimum wage for federal workers to that number. (The White House 2014). With more and more states raising their own minimum wage, a minimum wage increase seems almost imminent with Democrats and Republicans getting closer to a deal. (Bolton 2014). But we are more interested in the efficiency of a minimum wage implemented at the federal level. The main question that surrounds this debate is whether this price floor in labor markets is efficient given that the stated goal of the minimum wage is to make sure full-time workers earn a living wage and are above the poverty line.

Beside the increase in cost to businesses and customers, other people can potentially be hurt by this policy. By increasing the wage, small businesses will suffer a higher cost that can lead to cutting jobs, stalling new hire or even shutting down. On the other hand, the economic plight of these minimum wage workers should also be considered. Therefore, the $15 plan would produce unpredictable consequences, while not doing anything would doom minimum wage workers to live in in poverty and to consume public resources.

In the article “No, Seattle’s $15 Minimum Wage Is Not Hurting Workers,” Michelle Chen claims that raising the nation’s minimum wage will improve millions of employees and their families and the only adverse effects are just temporary. Seattle enacted a law with the intention of increasing the minimum wage over a period of time to $15 per hour, which is just now, thanks to the efforts of “Fight for 15,” becoming beneficial to the restaurant industry. It has been found that employers are abiding by the new law and employees are profiting from the change, at least in the restaurant business. Chen claims that Research finds that the new minimum wage is benefiting restaurant employees that previously earned less than $15, and furthermore clarifies

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

Supporters of an increase in minimum wage, the McDonalds employees that demand $15 per hour, argue that they need a “living pay”. Furthermore, they state that it will bring workers out of poverty and will have little negative effects. There is evidence to support this claim. One of them being that when the minimum wage increased from $6.25 to $7.25, there was no immediate negative effect.

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

What is the effects of a minimum wage increase on the household and industry?Minimum wage in the state of Illinois is only $8.25,but in most jobs $7.25. Most States give higher than $7.25 like Washington D.C. Some minimum wages can be lower like Georgia.Family employment and family income does have a effects on low-wage workers.Most family receive higher pay,that would increase their family 's income. Workers that don 't have a job would fall substantially and the share of low-wage wokers.Employed would probably fall slightly.People who because jobless earning are less than or not covered by minimum wage also have increased their earning.By the Congressional Budget Office,the effects of employment with family income,increase $10.10 option and $9.00 option. Minimum wage is $7.25 per hear then change to $10.10 per hour.More household would have more money to spend.This step will take place in 2016 for families work from paycheck to pay check.Employment and income for increases and decrease of working class taken into account. Families whose income between one and three times,the poverty threshold would receive. By $3 billion in additional real income. Federal spending and taxes would also be indirectly affected by the increases in real income for some people and the reduction in real income for others. People who become jobless because of the minimum-wage increase,business owners,and consumers facing higher prices that would collectively pay less in taxes and receive more in

Washuar and Neaumark’s study of the economic literature also found it “as largely solidifying the conventional view that minimum wages reduce employment among low-skilled workers” (qtd. in “Four Reasons”). A study conducted by Mark J. Hicks, the Director of the Center for Businesses and Economic Research and an associate professor at Ball State University, found that minimum wage increases on the state and the federal level, costed “roughly 550,000 fewer part-time jobs,” and “roughly 310,000 fewer teenagers working part-time” (qtd. in “Four

Opponents to minimum wage raise claim that the minimum wage costs jobs by pricing low-wage workers out of the labor market. However, when we review academic studies that examine the effects of minimum wage increases on

Currently, the federal minimum wage sits at $7.25 per hour. (Alison Doyle). The debate is whether or not the minimum wage should be increased to $15 per hour. Larger states, such as California and New York, are preparing to raise their minimum wage to $15 per hour in the coming years. (Kate Rogers). Due to the size and population of states such as these, a minimum wage increase could actually be beneficial in increasing revenue and the standard of living for many employees. The majority of the United States is not as fortunate and vastly populated as states such as these. Therefore, an increase in the minimum wage could result in layoffs and reduced hiring. (Doyle). Overall, the minimum wage should not be increased to $15 per hour.