Raising The Minimum Wage

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

The idea of raising the federal minimum wage that has developed nation wide attention, including protesting and arguments, has caused many discussions on why it could potentially help the economy grow and how it could result in the crash of the economy. Many people feel like raising the federal minimum wage is a must, while others think it will destroy the economy. There are many benefits that come with raising the federal minimum wage, but those benefits also come with many disadvantages.

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.

The controversy over minimum wage has been ongoing. However, as explained in a Time article by Chris Lu on the subject, now is the prime time to raise the federal minimum wage. “Three out of four Americans support an increase; the economy is healthy; and many employers are already raising wages.” It’s reasonable to be worried about the consequences that raising the minimum wage might have in a time of crisis or unrest, but this quote mentions a healthy economy that would be able to handle the shifts in wages if things went south temporarily. Another argument made by opposers of raising the minimum is that businesses will be unable to survive. On the contrary, a good business will find it beneficial. “‘It’s a simple, but critical, concept: take care of your people and they will take care of your customers.’ For &pizza, higher wages reduce employee turnover, increase productivity and improve customer service.” Rather than hurting the economy, raising the minimum wage will help workers, business owners and the economy itself. A higher wage for all is

"In fact, data from CPS suggests that the majority of poor families with heads of household of prime working age simply don’t work, so a minimum wage has no impact on these families." (Durden). The correlation between minimum wage and low-income families is weak. There are alternatives that could be more economically efficient for low-income families. It would be a delusion to think that raising the minimum wage would be the most economically efficient way to help low-income families.

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

In my report, I will go into detail and show how raising the federal minimum wage would positively effect the economy. In doing so, I will be discussing how an increase in the federal minimum wage would make a vast improvement on the way many low income families live, and also how raising the federal minimum wage would boost the economy as it desperately needs.

Working is supposed to help people get out of poverty, not live in it. People deserve to get rewarded for their hard work and should be paid to live a better life. But with the current federal minimum wage of $7.25 an hour, it is hard for workers to even pay for their necessities. Minimum wage should be raised to help workers feed themselves and to take care of their families with their wages. It will also help boost the economy, finish inequality and the poverty from this society.

An argument on the pro raising the minimum wage side is by raising the pay for low income household employees, they will be able to spend more. This situation helps the individual household because it is now able to buy more necessities and or wants. The market is also benefitted because more spending is occurring which increases the overall market activity.

One reason Raising the minimum wage is a bad thing is because it leads to lower unemployment for low skilled workers who are mostly teens looking for their first jobs. A University of Waterloo study found 10 percent increase in the minimum wage leads up to 4 percent drop in teen employment. which in short terms is people without education dont have incentive to get a education because they are getting 15$ dollars

In the USA thousands of employees live under the poverty line while working full time jobs

How would a minimum wage increase effect employment and family income, businesses, and the economy are just a few of the main arguments. Typically any increase in wage also increases income right? Raising the wage in the perception of small business is not usually a good move for the economy. Poverty is an important factor when it comes the economy and minimum wage could be the solution to that.

There are two sides to the minimum wage issue. Many small business are already struggling to make ends meet before the minimum wage was increased. The minimum wage being increased can cause goods for store to go up. Small business that are already barely making it, are going to need to pay workers close to $8,200 more a year, says NPR. Promotion 206 would slowly increase the minimum wage to 12. 00 dollars by 2020. For business that allows employees to be tipped are allowed to pay the employee up to 3. 00 below the minimum wage ,but as long as the tips that are earned are distributed to the employee would bring that rate at least up to the minimum wage. (ballotpedia) The rise and fall in minimum wage can help and hurt the economy both ways and how that works is very interesting. The big idea of raising minimum wage is to protect the worker at all cost and assume that the owner of the business is doing just fine. America is built on small business and this can damage the economy servilely.

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

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.