Pros And Cons Of Minimum Wage

Rex Huppke, a journalist for the Chicago Tribune, deftly discusses the pros and cons of raising the minimum wage in the last of a two-week series in “In the Minimum Wage Debate, Both Sides Make Valid Points”. Although I am for raising the minimum wage, Huppke’s presentation of the opposite argument does make one think beyond the gut reading that everyone deserves more money. Huppke’s argument that a large number of minimum wage earners are student of the elderly leads me to believe that a tier of wages would take care of the issue. For example, anyone working less than 35 hours a week would be paid at a certain rate; with full time getting an increase. I am not concerned by the argument that a higher minimum wage leads to lay-offs or price increases when most products sold in America are manufactured by cheap foreign labor. There is already a huge profit margin that could sustain such an increase. Rather than give discounts on goods and services, thus preventing employees from exercising the right to shop, stay or eat wherever the employee chooses, these employers trap workers into giving back the very money they have “slaved” for.

Since 1938, when the minimum wage was first introduced (at a rate of $0.25 an hour), the federal minimum wage has increased 22 times. The minimum wage is the salary floor, or the lowest possible rate that employers can pay employees.

There are 156. 4 million people in the US workforce, however 5.2% of those are unemployed. The federal minimum wage is $7.25 an hour; however, each state has its own laws regarding minimum wage and the amount can be higher or lower than the federal minimum, but the employee receives the higher of the two (2015). A higher minimum wage means that employers are less apt to hire someone. Some experts explain this by saying that if an employer values the job at a lower wage per hour than the minimum wage set by the government, then the employer is less likely to hire someone to fill that role. The employer only wants to hire someone when that person will be able to generate some sort of value for the company and positively affect the bottom line. Another problem with a high minimum wage is that potential employees are less likely to want to work if they are able to receive unemployment benefits from the government that will almost equal that which they would receive from working a minimum wage job (Gillikin).

Raising minimum wage has been a debate for quite some time. This Essay will go over Pros and Cons. I will research both sides of this ongoing debate. Listing a few from each side. Coming to a conclusion that raising minimum wage is what would be best for the citizens of the United States and for the economy.

l minimum wage has been one of the most talked about social issues since it was in was introduced in the year of 1938. To increase the federal minimum wage has pros as well as cons. I believe that the increase of minimum wage would not only give more people motivation but it can increase the livelihoods of individuals in poverty and strengthen business and the economy all at once.

A minimum wage is the lowest hourly wage that employers have to compensate the workers for their service. Currently the federal minimum wage is $7.25 per hour. However, many states also have their own minimum wage laws. In those instances, the employee is entitled to the higher of the two minimum wages. In this paper we will discuss the brief history of the minimum wage law and its current legislation. We will also analyze the pros and cons of raising the minimum wage, and the merits of each argument.

The idea of minimum wage is that workers are guaranteed enough money to live off of. The price of minimum wage is determined by the state, but a federal minimum wage is set. Some states choose to go above the minimum wage, while others, such as Alabama and Louisiana, choose to not have minimum wage at all (Root). Minimum wage is important to society, because it can affect many people’s lives. There are many pros and cons to having minimum wage in the United States. Furthermore, various stakeholders are also impacted by this policy in numerous of ways. Minimum wage is a microeconomics and macroeconomic problem that has many consequences. Therefore, minimum wage has been a great economic issue because of people’s support and opposition to the policy.

This results in some workers losing their jobs. The majority of these workers will be those who are the least productive.

Since 2009, the federal minimum wage rate for employees has been $7.25 per hour. In retrospect, this is hardly enough pay to take care of one’s self-- let alone a family with children. If a person were to add up the average cost of living for one week and then compare it to the average amount of money earned in minimum wage for that week, it would be apparent that there is little to no extra money for emergency situations. Increasing the minimum wage has been a major controversial issue; Democrats are proponents of raising the minimum wage, however, Republicans are trying to stop the movement. Many economists have discussed how raising the minimum wage could benefit millions of people and businesses, yet Republicans still hinder the

I firmly believe that employees who also recive tips should be paid the same wage as other emplyees who do not recive tips. My reason being, while yes the other empoyees work very hard servers work ten times as hard. Having to deal with costomers on a daily basis, some of them might even being rude to the server for absolutly no reason. They constantly have to be on their feet walking to and from the kitchen and tables. These are just a few of the basic reasons, here are a few others that should be deeply considered.

Did you know minimum wage was $0.25 per hour in 1938? Since then it has raised to a whopping $7.25. Most readers will agree that there is a problem with this current minimum wage, considering the cost of living and salaries, Etc. However, they might not understand the complexity of the issue. In fact, the topic is not simply a question of if the minimum wage should be increased or kept the same, but more of a complex issue involving the different viewpoints on why people agree or disagree. Some reasons why people might agree is: decreasing poverty, increase in government aiding, and cannot afford basic needs. In opposition, opponents of the minimum wage might say it increases poverty, increases unemployment (specifically among unskilled or

The minimum wage serves as a mechanism to mitigate poverty and income inequality in our economic system. It is a powerful tool in our society, ensuring that working individuals are receiving a fair wage for their labor. This law plays a huge role in American business and seeks to ensure that our capitalist economy is not benefitting from under compensating the workforce. There is a great deal of debate surrounding this topic in the political arena today, with polarizing opinions on both sides of the issue. Currently there is a movement to raise the minimum wage to $15 dollars across the country. Supporters argue that it reduces poverty and inequality while raising the living standards of a significant portion of our society. Opponents on the other hand see the minimum wage as an attack on small businesses, increased unemployment, and overreach on the part of our government. It is important to realize that raising the minimum wage will result in more positive outcomes than negative but it must be done gradually. It would boost consumer

Increasing the federal minimum wage has been a controversial topic around the United States; many people are in favor of raising the minimum wage, while others heavily oppose the idea. While everyone is entitled to their own opinion, statistics have shown that the minimum wage is closely correlated to public health, and it shows that this topic is a much bigger and broader picture than simply economics. The federal minimum wage has a history that dates all the way back to 1938, and the strong debates and opinions surrounding it still continue to this day. (ProCon.org, 2016) Like any health policy issue, there are both pros and cons to the issue, and there are also different aspects and perspectives to look at when it comes to both the

If a society with a minimum wage were to increase the amount of that minimum wage, the results would be both negative and positive. The minimum wage was created to prevent business owners from taking advantage of employees who desperately need income. Right now, the minimum wage in the U.S. is $7.25. Small business leaders are fearful that an increase in payroll will cause their business to fail due to high production costs. Employees argue that working at a minimum wage is not enough to live comfortably, even more impossible to support a family. If the government were to increase payroll to a minimum of $15 per hour nationwide, it would cause 9 million job losses. On the plus side, business owners would see less turnovers and an increase in productivity, because people would have more spending money in their pockets, thus helping other businesses as well (Dixon, L. 2018, February 08).

The minimum wage is the lowest possible wage that employers can legally pay their workers. Today, it seems like everyone has their own opinion on the minimum wage. Should it be abolished, raised, or should it remain the same? I will talk about the pros and the cons of raising the minimum wage as well as my own opinion if it should be raised or if it should stay the same.