Positive Effects Of Minimum Wage

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

From the point of view of someone who is earning minimum wage it may seem benefitial to raise hourly pay, but it is obvious that the negitive effects outweigh the positives. It has been long debated whether the govnerment should enforce price control by setting a minimum wage higher than what it is now. There is a supply of people to fit the demand for the work. In the topic of raising minimum was a surplus would mean there are more workers than there is work. A shortage would mean the ratio of workers is higher compared to the amount of work needed to be done. The equilibrium price is where the supply and demand are equal. The government should not increase minimum wage because it will hurt smaller

One of the biggest political topics in today's society is the federal minimum wage and whether it should be raised or kept at where it is now at $7.25 an hour. Arguments could be made for both sides on whether it should be raised or left alone. The majority of minimum wage in today’s job market are unskilled positions. Minimum wage jobs were created for teenagers and colleges kids as a way to get into the workforce and to have a little extra money for themselves. It was not designed to be a wage for people to live on. Increasing the minimum wage would hurt the economy by hurting small businesses, a huge loss of jobs and it would increase the competition between teens and adults. Overall if the federal minimum wage is increased it will have many negative effects on the economy.

Living on minimum wage with companies that pay with the bare minimum has never been a walk in the park for anyone. Whether you are an individual that lives by yourself or a parent that has children to take care of, minimum wage doesn’t provide enough to live a comfortable life. Many people say that if the minimum wage is raised, there will be negative repercussions. However, there is evidence that shows the complete opposite. This evidence would include how living conditions would improve, happier employees result in better work output, and there would be an increase in sales due to people being able to afford more. Raising the minimum wage to match rates of inflation would benefit and improve lives.

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.

According to Jerome Fin minimum wage even at the federal level costs jobs ( Rotson 1). If a recession comes, higher wages will mean more layoffs (Alper 1) Although, this may not happen are you willing to risk it all? If a continuous amount jobs are lost not only will the lower class be affected ,but so will the middle class and upper class. “I feel every minimum wage, even at the federal level costs jobs”(Roston 1). Senate Minority Leader Mitch McConnell says “ The minimum wage is largely an entry - level wage and raising it to ten dollars and ten cents an hour would lead to destroying jobs for young people”(Raasch 16). After, Seattle raised their minimum wage to fifteen dollars an hour major problems started occurring. Adam Ozimek says “First wave of minimum wage increases appears to have lead to the loss of over one thousand one hundred food service jobs in Seattle's” (Puzder

Minimum wage is just bad to the economic policy to even start. Its unfair, raises prices, and more. They should not consider to raise minimum wage.“The government has instituted a price control related to wages for labor. This price control is called the minimum wage.” Many citizens believe that by raising minimum wage it will help and improve how the world runs. Will it improve though? I believe that we should not raise minimum wage, not only would it be harmful, it would stop the process of full employment, economic growth and more. Is raising minimum wage really worth all he consequences. Take a look for yourself on the reason being why we shouldn’t raise minimum wage.

“A 15 percent increase in the minimum wage nationwide would destroy about 290,000 to 590,000 young people's jobs, and about 400,000 to 800,000 jobs overall” (Henderson, David R). Due to the Fair labor Standards act, the federal minimum wage, or the lowest you can pay an employee for work, currently stands at $7.25 an hour. Although a number of Americans think that raising the minimum wage would benefit our country, it would actually bring a number of problems to our economy, such as a rise in job loss and high school dropout.

Who knew that minimum wage could save the world and the people in it? The last time minimum wage was raised on July 24, 2009, and that when it rose from $6.55 to $7.25 per hour, How have we been living on $7.25 this long? We haven't been living on it we were trying to survive and a lot of people can’t survive on a minimum wage that low. Raising minimum wage to an amount that could actually let people live comfortably would help the economy and a lot of people who struggle in this economy. This is not all that can help but raising the minimum wage can be the start of a lot of problems that deal with job growth, reducing child neglect, and poverty.

All across the country, workers are rallying together in order to raise their state’s minimum wage from as low as $7.25 per hour to $15.00 per hour. While many states already have a minimum wage well above the national requirement of $7.25 per hour, many Americans are claiming this is not enough to live off of. Also, many go as far as to claim that an increased minimum wage would actually boost the economy through the law of supply and demand, which states that an increase in the amount of money in the economy will, ultimately, increase the amount of output of the economy. While both of these may seem logical in theory, they couldn’t be farther from reality. An increase in minimum wage would lead to an increased unemployment rate, an increase in inflation, and an overall decrease in the productivity of the workforce.

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

Minimum wage is a struggle for many Americans and I believe it needs to be raised. The minimum wage of the United States is $7.25 an hour. It is a rate that isn’t letting many Americans live life comfortably. If the minimum wage was changed even a merely $3.75 it would change people’s lives and will let many people get by. The minimum wage of $7.25 has stayed the same since 2009 and there hasn’t been any effort by the government to change it. Many states have increased their minimum wage, but I hope that the minimum wage rises nationwide and not individually as states.

The minimum wage is the lowest wage an employer is allowed to pay. However, nowadays, the most important issue is its increasing to 15$/hour after being below 10$/hour for the past years in several states. According to the Congressional Budget Office, there is a national debate on wether to raise it or not because of its pros and cons. (Patterson, 2015)

Raising the minimum wage to $10.10 is not the answer. The various amount of unintended consequences that would come about as a result is reason enough not to support an increase. Those who support an increase contend that it will alleviate poverty. Suppose a spike in the minimum wage does reduce poverty for some workers. This development will be offset since an increase in the minimum wage will further price out inexperienced workers from the job market, resulting in an increase in unemployment and thus, poverty. This can properly be described as a catch-22 situation; no matter happens, someone will lose. When you take these negative affects into account, is an increase in the minimum wage worth it? As expounded further, no it is not.

Why doesn't the government raise minimum wage ? This is one of the most frequently asked questions in our modern day society. The price of everyday items such as food and clothes the price of rent, mortgage, gas, water, trash, electricity, etc has risen so much that even with the current boost our minimum wage had it is still not enough for some people to make a fair amount for proper living. The minimum wage we currently have does not do much to help those in poverty or close to it. In fact the “gap between the rich and everyone else is growing currently.” According to the website U.S.News “The widening income gap also has fueled a class-based social disconnect that has produced inequitable educational results. "Now, your family income matters more than your own abilities in terms of whether you complete college," said Robert Putnam, the Peter and Isabel Malkin Professor of Public Policy at Harvard Kennedy School. "Smart poor kids are less likely to graduate from college now than dumb rich kids. That's not because of the schools, that's because of all the advantages that are available to rich kids." This is the sad truth about our current economy the need for money is so great that is no longer matters how great of a student you are with money you can be the worst student ever and still graduate from college.