Raising Minimum Wage Research Paper

Raising the minimum wage could help get money into the pockets of the hard workers of America thus put money back into the economy. Although raising the minimum wage could have consequences in inflation, it would be better for everyone, to close the payment gap in-between the higher class and the lower class, as the gap is huge. On average CEOs make nine-hundred-thirty-three times more than average minimum wage worker, going from a salary of $15,080 to $14,070,000. Raising the minimum wage could get many people off food stamps, saving the government almost four billion dollars a year, and helping 3.5 million Americans get on their feet to look for jobs that will actually be able to provide them economic security getting them out of poverty (10 Reasons to Raise the Minimum Wage). A complete push to fifteen dollars an hour for minimum wage jobs is a stretch, but a continuous growth towards the whole fifteen dollars would be

This has been a discussion for the ages. The debate over raising the minimum wage has been a hot topic. Raising minimum wage would reduce poverty, be better for lower paid workers, and to reduce expense for social programs.

Many argue that raising the minimum wage makes hiring workers more expensive, eliminates jobs at the bottom, slows growth and ultimately raises unemployment. Economic studies show that raising the minimum wage to keep pace with inflation creates little additional harm, but what the president is

Raising the minimum wage will have a terrible impact on individuals and businesses because companies or businesses will fired people of employment particularly for low-skilled workers.

As published by Alison Doyle in “Pros and Cons of Raising the Minimum Wage”, “An increase in the minimum wage raises the standard of living for impoverished workers.” Furthermore, workers that make more than the minimum wage are also effected due in part to the ripple effect, which means that the rise of the minimum wage positively effects higher wage brackets. Katie Lobosco of CNN Money said in the article, Minimum wage hike could mean a raise for all, “As a result, the Economic Policy Institute estimates about 4.6 million workers will see their wages increased, 2.6 million of whom are directly affected as the new minimum wage exceeds their current hourly pay. The other 2 million already make slightly more than the new minimum wage but will benefit from the ripple effect. “ Employers will give valuable employees more money to stay competitive and retain those with valuable skills. people will not want to take job positions where they make almost the same amount as their subordinates. With everyone seeming getting more money the economy could flourish. Alison Doyle painted a great scenario in her article where “Additional income would be spent by consumers and would ripple through the economy if overall budgets for salary were increased under a gradual increase in the minimum wage scenario and Government expenses for social programs aimed at the poor would be reduced causing slightly lower taxes for other

The minimum wage in this country has been a controversial issue. Many people believe it will help reduce poverty and boost the economy. However, they are not looking at the downfalls this will bring to our country. This could make the unemployment population rise, it will raise prices of other things, and would have little effect on reducing poverty. Raising the minimum wage would have a negative influence on our country.

Things in our society have changed drastically in the last ten to fifteen years. I remember seeing gas prices for $1.00, but I also remember when they were almost $5.00 a gallon. Things are not cheap like they use to be. A lot of people have to work more than one job to make ends meet. Single mothers have to pay for daycare, and that is expensive in itself. There has been talk for quite some time about raising the minimum wage. With everything in life, there will be positive and negative impacts on this subject. I for one am for a minimum wage increase. We will take a look at the aspects it will have for employees, how the increase will affect our cost of living, and how it will affect employers.

One of the most obvious and anticipated effects of a minimum wage increase is the income increase especially for families on and below the poverty line. An approximated 16.5 million people stand to gain from added wages, and most families ' incomes would, in fact, rise above the federal poverty threshold (Congressional Budget Office). With so many families depending on the minimum wage to forge a livelihood, an increase would be a blessing in disguise. It is a fact that some American families have parents working up to two or three jobs to keep up with the cost of living which is dynamic in nature. As such, children grow up with absentee parents and lacking the attention they need to enhance their psychological well-being. Increasing the minimum wage is likely to ease the pressure from such families and encourage more cohesive family units.

Minimum wage affects everyone. The current minimum wage is at $7.25 and President Obama announced that he wished to see a change in the minimum wage, he wants to raise the hourly wage to $10.10. A rise in the income of those who are employed will also raise the cost of hiring unskilled labor and can potentially reduce the number of people hired by businesses. Also, if minimum wage is raised then the price of the products that the companies are making might increase which will continue the cycle of minimum wage not being enough to survive on. The increase of minimum wage will result in negative effects that will have a significant impact on national economy.

Another effect of raising the minimum wage is the expectation of higher paid, skilled workers, to also receive an increase in pay, further eating into a company’s profits. All of this results in higher unemployment. Unemployment in turn, can lead to homelessness and more expense on a government to provide for those unemployed and homeless individuals. This can also lead to more government funds being needed to address health concerns of these individuals.

The different positive effects that would result from a higher minimum wage are clear. It would rise the earnings of hard working families, and economic growth, to create about 100,000 new jobs. In an economic climate in which wage increases for the most vulnerable employes are unusual, is an opportunity that families in society cannot looseProtecting workers from abuse is something positive about raising the minimum wage because it would help to reduce the abusive, exploitative employees whom take advantage of the currently low minimum wage to seek cut-rate help. Also, it will help people to get out of debt, when you make more money and you still paying the same amount of bills that you were paying before. That extra money can be use to pay

On June 1st 2014 minimum wage was increased by 75-cents thanks to more than a year of organizing across the province. Even with this increase from 10.25 to 11.00 per hour, more than 16% of full-time workers are still left living below the poverty line. Not only are employees’ lives being deprived but also their families. This is a moral imperative, but also it is an economic issue. How will increasing minimum wage better society? A strong minimum wage can help businesses, our economy recover and working families.

In conclusion, increasing the minimum wage in fact will create more damage than the benefits that it desired. It will make up the negative effects of the national economic security, businesses, and each worker. You and I are keen to have higher income to make yourselves and your family life is better. But In my opinion, the real income did not come from raising the minimum wage. How about you? All depending on the thoughts and decisions your

Others think that an employment can have a really good living with the minimum wage that they earn. Economists did research and stated that raising it by 10% will reduce employment 0.01%. What this author is trying to conclude is that minimum wage being raised is a good thing. Everybody stating that raising the minimum wage will decrease job opportunities are not saying the truth because the employment rate will not even move at all. One full-time minimum wage used to be able used to keep a family of 3 above the poverty line and now it can not even support a single parent above the poverty line. One other example that was stated in the article was that nearly 90% of the workers who would be affected by the minimum wage hike are older than 20 and 28% are parents. These statistics show that many people used to make enough for an easy living because it was manageable to work with. Times change and good things can’t last forever. Now many families are struggling to stay together through tough times. Most barely make a decent living but what about a family of 3 or 4? There is no chance for them if their parents only make minimum wage. If it were raised many would get out of poverty and have a better living and by doing this then most families won’t have to rely on the government as much. One other benefit that this can have is the morale of the employees. Any customer enjoys seeing an employee being joyful at their job.By increasing their pay many would be motivated to do better and perform better at their own job. They would also work for the company for a long time and never have a thought about quitting the job. One last good thing that would help out millions and the government itself is that the government would be able to reduce some social programs that helped people that are living in

Some say raising the minimum wage will hurt the least experienced in getting hired, but in reality that isn’t quite the case. Increasing the minimum wage could have a negative effect on those who are new to jobs or have less experience than others. This less experienced group of individuals they speak about include teenagers, less fortunate others, and people changing jobs into a field they know very little about. Regardless of that fact there are many policies an official in the company could take to ensure that doesn’t happen. Even if this does have an impact it’s more important that those who need a minimum wage increase obtain it because it has to be instated to be sure nobody is left behind.