Paycheck Research Paper

Jason Furman and Parrot Sharon explain why raising minimum wage will help families. The wage has to be elevated to just the point where a family can actually afford all the necessities they need in order to survive. The cost of living in houses for poor people makes it difficult for them to afford it and is difficult to stay on task with all the bills. Many minimum wage workers have families to support. The cost of raising children is very expensive. It is an average of $7,100 per year. Minimum wage workers can barely afford to pay child care for one child, let alone two. Increasing minimum wage will also make life easier to those who have food stamps and child care needs. Which can also help them get into college a lot faster so they can go out and pursue a better paying job.

When there are millions of Americans living at or below poverty lines, something has to be done. Billion dollar companies and businesses that employ workers, paying them low wages is hurting the economy. The reality is, unless the minimum wage is raised, the cycle will only continue. With higher minimum wages in place, the entire country does better and, therefore, should be raised. There needs to be laws put place to raise the minimum wage. Doing so would boost the economy with all of the money that Americans would put into it. With higher minimum wages, millions of Americans can get out of poverty, not having to rely on the government for assistance such as food stamps, public housing, child care, and health care needs. They can afford better housing options in which they want to live. Communities would see less crimes in neighborhoods creating a safer environment. Aside from that, Americans can afford a good education, health care, as well as healthier eating and exercising habits.

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 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.

Many families in America are barely making ends meet. Forty two million women are living in

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

If the minimum wage was increased, more people would be able to make an income that is above the poverty line. Likewise, people would be able to support their families by working a larger variety of jobs that would normally be insufficient. For example, a job at a fast food restaurant may have a income that is below the poverty line, but if the annual wage

It seems only logical that providing the poorest segment of society with more pay for their work will improve their situation and give them the working capital they need to work their way out of poverty. With each incremental increase those who are directly affected by the increase will instantly have more money to help them purchase more good and services to improve their living conditions. Additionally increasing the minimum wage would likely have a positive effect on the overall economy as workers immediately increase their consumption possibly increasing GDP and the resulting employment

Rise in minimum wage has several impacts apart from unemployment. The minimum-wage workers would have to pay more taxes and receive fewer benefits if they are subjected to rise of minimum wage. The federal marginal rate for tax is 32 percent on an average for low earning members. This would amount to almost one third of the income of a worker. The tax rate is quite high for low paid workers. The rise of minimum wage would also reduce some of the advantages and leverages that the low-wage workers enjoyed previously. In United States, the increase of minimum wage for workers would have some disadvantages including paying payroll taxes and payments for Social Security and Medicare (Clark 445). The economists have therefore stated that the minimum wage should be an amount that could meet the basic needs of a worker and it should not be increased unnecessarily without proper inspection because it could have negative impact in the life of the workers. The marginal tax of 32 percent does not include the benefits of Medicaid coverage services. However, the benefits of minimum-waged labors would definitely reduce as a result of slight increase in the minimum-wage.

According to, a news article in the Star Phoenix called “Pros and cons of a minimum wage increase hourly” (Tyndall, 2015). Tyndall states that, minimum wage is basically the lowest pay rate employers can legally give their workers. He states that people are not opposed to minimum wage increase but supporters of minimum wage believe that it will help property and opposes believe that the increase of minimum wage will increase property as well as unemployment hurting businesses. Tyndall states that how important income is to survival and having a way of life to support their families as well as their livelihood. A person that has low income or a loss of income could harm their personal health. Due to the fact that they cannot afford health care people who have higher wages can afford healthcare.

Contrary to these beliefs, I believe that raising the minimum wage will not only benefit the company and employee immensely, but overall increase the productivity of workers. The raising of the minimum wage will help these low income families support their families, which decreases the poverty level too.

Back in biblical times in the old testament scriptures; war between the Northern Kingdom and the Southern Kingdom were fought over and over. Today, the nations are feuding still over this and over that with many lives yet being destroyed.

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

Sometimes life throws a really expensive and unexpected problem at you that makes it difficult to make ends meet. You work hard to take care of your family and all of your financial obligations, but sometimes it can be a real struggle to make it from one paycheck to the next. Pay day advances can help you out of a bind.

Moving along the list of advantages, increasing the minimum wage will also increase the amount of money workers have, which, in turn, will inspire them to increase their consumption and pump their extra money into the economy. If workers have more money going into their pockets from increased wages, the income effect comes into play, and provides an incentive to go out into the market and buy goods and services. In an article printed by The New York Times, it was also pointed out that raising the minimum wage would decrease labor turnover. This is because if workers are paid more, they have less incentive to leave their current job and seek a higher paying job.