Raising Minimum Wage

There are a lot of people around the world who struggle with money and a satisfactory way of life. Whether they be in the United States or across the globe, there is a standard minimum wage set for the working class of their country. In the Unites States, there is a federal minimum wage of seven dollars and twenty five cents per hour worked. Almost every state has another set minimum wage, which typically is a little higher than the federal minimum wage, but it cannot be lower than seven dollars and twenty five cents. Countries set minimum wage laws, to ensure there is a basic quality of life amongst its citizens. As the minimum wage goes up in certain states, the quality of life also improves. The problem with a higher minimum wage, is now people are getting paid higher for entry level jobs which are meant for teenagers and people new to the workforce. If the minimum wage keeps increasing across the country, teenagers and young adults will have a much more difficult time finding jobs.

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.

First, employers surviving at minimum wage are also the same people who must rely additional government run social programs. So by raising minimum wage our social programs will raise and the people would not have to rely on tem as much. Also, raising minimum wage would mean some of these people would be able to support themselves. This means lower taxes or a reallocation of those funds to support other needs. Which these would all help benefit the poor and our social programs rather than hurt them. Last we should raise minimum wage because that would benefit our social programs.

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.

Overall, minimum wage should not be increased because of the effect it would have on smaller businesses, movivation to work, and demand for labor. Over the years minimum wage has been used as motivator and has supported smaller businesses. If minimum wage were to be increased so would unemployment and the crime rate. The demand would be increased, leading to a supply decrease. Although it is debatable whether or not minimum wage should be increased, it is clear that it would cause more problems than it would

To begin with, minimum wage should be raised so that adults can afford apartments. A report from the National Low Income Housing stated, “ In no state can an individual working a typical 40-hour week at the federal minimum wage afford a one- or two- bedroom apartment for his or her family.” People working with a minimum wage of $10 to $13 can’t afford an apartment for themselves. This leads to homelessness. The effect of this is rising poverty rates. People can't afford much, let alone an apartment, and will go into poverty and homelessness. Clearly, minimum wage should be raised so that people can afford apartments.

On November 9th, the voters of Maine chose to boost the states minimum wage. Raising the minimum wage intends to increase the living standard of low-level and low-skilled workers, specifically in service-sector jobs. However, sometimes it hurts the people it intends to help. Many economists have debated what the minimum wage should be that would benefit both the economy and society. Starting with John Maynard Keynes, economists have argued about the minimum wage for decades. Traditional economists argued that the labor market is in balance at equilibrium, however, Keynes argued that settling at equilibrium would not improve the labor market situation or properly stimulate aggregate demand.

The minimum wage has been a topic of discussion for decades. It was introduced in the Fair Labor Standards Act in 1938, originally set at $0.25. It has since been raised 29 times. The current federal minimum wage is $7.25 and was set in 2009 (11). This is the reason many people are upset with the wage not increasing. It would take $8.09 in 2016 to equal the $7.25 from 2009. The minimum wage needs to be increased to boost the economy and lift families out of poverty. However, the minimum wage should not be increased to more than $10 per hour to prevent an increase in the price of consumer goods and prevent a spike in high school dropout rates.

In addition to raising wages and establishing safer working conditions, enforcing unionization nationwide can also can also create better benefits for the working population. Unions have played a major role in regulating overtime pay and minimum wage. Recently, activists and labor unions have been fighting for minimum wage to rise to 15 dollars. Raising minimum wage would lower the poverty rate in the United States. In a study conducted in 2013 by the University of Massachusetts at Amherst, “economist Arindrajit Dube, PhD, estimated that increasing the minimum wage to $10.10 is ‘projected to reduce the number of non-elderly living in poverty by around 4.6 million’” (Should). Under the Social Security Act of 1935, unemployment insurance (UI)

Minimum wage is the minimum hourly wage an employer can pay an employee for work. Minimum wage helps people pay for things they use or need every day like food, clothes, and their homes. In some cases and for certain people the the federal minimum wage is not high enough for them to live on. In this paper I will argue that minimum wage should be increased to benefit people in a variety of ways, both socially and economically. Increasing minimum wage will also help cut down on government spending and pull people out of poverty.

When people get a job they think that they should be able to afford to financially support their families; however, this is not the case for so many hard working people. There are plenty of people who opposite the raise of 15 dollars an hour, yet there reasons are unsound since just like the business owners try to get their employees are trying to support their families. Many think that raising the minimum wage would hurt businesses, yet how can businesses grow if people do not have money to spend on those businesses. People need to have extra money in order to be able to spend more money and help the economy. Increasing the minimum wage helps many people be able to survive.

Although there is a great deal of disagreement about how to regulate the minimum wage in America, statistics indicate that the minimum wage has not been keeping pace with inflation. “The federal minimum wage is just $7.25 an hour and hasn’t been raised in three years. But a raise is much more overdue than that. If we look at the minimum wage 44 years ago, and simply adjust it for inflation, it would be more than $10 today.” However, there is tremendous resistance to raising the minimum wage, because of the belief that to improve the economic recovery, workers must be ‘cheap’ to encourage businesses to buy more labor. According to classical economic theory, as supply increases in the form of unemployed labor, labor prices should be allowed

Families will have better care, reducing demands on the health care system. More money means people can spend money on better products at the supermarket which means there is less of the chance of them become ill. That leads to them being less of a burden on the government and the government does not have to spend tons of money on health care. When people start spending money the economy starts going and businesses make enough money to pay the higher wages. “Raising the minimum wage would be good for our economy. A higher minimum wage not only increases workers’ incomes—which is sorely needed to boost demand and get the economy going.”(Lester) Low wage workers are most likely spending the money where other low wage worker work at. This would

There is an ongoing debate and controversy between the Democrats and Republicans,whether the minimum wage should be raised or not. Today, minimum wage is set at $7.25. Democrats argue that a mere minimum wage of $7.25 is not enough for most Americans. On the other hand, Republicans believe that raising the minimum wage does not serve a positive purpose to the economy. President Obama proposed increasing the minimum wage by 25%,to nine dollars, in his 2008 inaugural speech, as it would improve the lives of many Americans/the standard of living and spur economic growth.

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.