Research Paper On 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.

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.

An increase in the minimum wage would push companies to take this route as it becomes more and more profitable to them. The end result of all of this would be a suddenly increased level of unemployment bound to become subsequent with an increase in government-funded welfare expenses, weakening the economy even more.

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.

Raising the federal minimum wage to $15 an hour can have detrimental effects on society. Some issues that may arise are increases in unemployment and small businesses not being able to handle the financial burden, which will lead into job benefit cuts. Furthermore, a rise in minimum wage will cause inflation and businesses to raise the prices of their goods and services. People purchasing power will continue to stay the same; the struggle to close the gap between products and services will not

Raising the minimum wage will help keep up with inflation. For example, this piece of evidence supports the fact that poor families are even poorer than what was expected. The article "pros-and-cons-of-raising-the-minimum-wage "stated, "The minimum wage hasn't kept up with inflation. As a result, the pay of man workers, particularly those with families of three or more people, are no well below the poverty level." Minimum wage is already so low to the point that it is considered poverty.

Raising minimum wage 10% would reduce the amount of poverty by 2.4% ( Konzal, Mike. ) The raise of minimum wage may be able to pull 4.6 million people out of poverty. Although there are 45 million people in poverty, pulling 4.6 million out is a good start. With raising minimum wage there are possibilities of it boosting workers incomes by 10% which is an increase of $1,700. A raise like this is a big boost to people's quality of life and living conditions. Having high paying jobs for workers would pull about 900,000 americans out of poverty and raise the income of 16.5 million workers all around the US. While raising minimum wage has some positive outcomes there is more possibility for negative outcome. Positive effects like poverty rates possibly dropping are great but not enough money can be made. Workers income will be raised because of the wage raise but it is not good enough. If firms pay more they are going to look for less workers because of the raise or resort to other ways of work. A raise in minimum wage has opportunities to pull people out of poverty and raise incomes of people but it is not 't enough. ( Khimm, Suzy. )

For over a decade, many Americans have struggled with the low wage issued from employers, despite working very long hours of work. According to a study done in Oregon State University, a federal minimum wage was first set in 1938, starting at 25 cents an hour. Due to inflation that has occurred many times throughout the century, the call for raising minimum wage is to be immediately answered. However, the minimum wage falls when congress does not raise the minimum wage to keep up with inflation. Because of this many cities and states have departed from the minimum wage. In this essay, to be discussed is the reason why imposing a minimum wage above the equilibrium wage will reduce employment and contribute to an increase in the unemployment rate.

The impact of raising the minimum wage would be good but i disagree the reason why is if the minimum wage go up businesses will have less workers and the prices will go up on everything like gas , clothes , shoes , food , rent etc. and for people it will affect them because it won’t be a lot of jobs and there and it would not be ok cause more people will be homeless and not have the money to take care of themselves or their families.They created minimum wage in 1938 it was a law to pay legally to works with a certain jobs.

The minimum wage has been around since the Great Depression in 1938 under the presidency of Franklin Delano Roosevelt. Initially, the government set the minimum wage at $0.25 per hour to now $7.25 an hour, although some states decide to have a lower rate than the national rate or have no minimum at all. The heated debate over raising the national rate of the minimum wage has been on everybody’s lips since there was the question of whether to alter the rate or not. I support the raising of minimum wage because of the fact that raising the minimum wage would improve the income of people in poverty and economy of America. For the same reason, raising the minimum wage would lift the incomes of about 18 million hard-working people.

To start off, raising the minimum wage would put greater prices of many food items. According to ThinkProgress.com raising the minimum wage to $15 an hour would result in food prices to be increased by 4.3 percent. That 4.3 percent increase may not seem like much when you add it to a four dollar cheeseburger, but when

In order to reduce income inequality, increase people's economic security, and help get people off food stamps, the government should increase the federal minimum wage. The average CEO makes 774 times the amount of a full-time minimum wage worker according to Cathrine Dill from forbes magazine. If minimum wage increased to $10.10, that number would decrease to 559. Although it’s not much, it still reduces the income inequality between the rich and poor people in America. Also, increasing the minimum wage will increase people's economic stability. Alternet.org states, “It is no longer the case that the people making the minimum wage are largely teenagers. In fact, now more than half of workers earning under $10.10 an hour are forced to support

Raising the minimum wage by 10 percent would cause a 1 to 2 percent reduction of teens and low skilled workers to be out of a job. Because teens and young adults make up the majority of minimum wage workers, they would be the ones most impacted. If the minimum wage were to be raised, teens and young adults, who could be considered less skilled workers, would have to compete with higher skilled and most likely older workers. Employers would want to have skilled workers working for the higher wage. Younger and less skilled workers usually are part-time, and since if the minimum wage were to be increased there would be 550,000 less part-time jobs which would reduce the number of teens and less skilled workers who are part-time by 310,000. Also, employers would not want to or be able to hire as many people because they would not want to pay all of them more. Some people say that increasing the minimum wage from $7.25 to $10.10 would put about 500,000 people out of a job and it would become hard for young, less skilled workers to find jobs because it would be too expensive. Having to pay for many employees would force businesses to raise their prices, which would reduce the demand for their products causing a decrease in demand for the employees who create the product. Raising the minimum wage could increase some people’s pay if they are able to keep or find a job, which is not very

Minimum wage is the lowest wage paid or permitted to be paid (1). Americans have been debating raising minimum wage for years. The people that want the raise in pay believe that it will help workers who are not as qualified and need a salary they can support themselves on. The people who do not want the raise realize the damaging effects it will have on this country. These jobs do not require a great amount of skill so having a low pay is understandable. Minimum wage jobs were not created for people to support themselves and a family with. Raising minimum wage would hurt Americans more than help them because in the end prices of goods will increase and people will lose their jobs.

Economists who argue for the benefits for a minimum wage state that increasing the minimum wage would have two principal effects on low wage workers. The first effect is the majority of minimum wage earners would receive higher pay that would increase their family’s income. The second effect is some of those minimum wage earners families would see their income rise above the federal poverty threshold. Some economists argue that by raising the minimum wage it will reduce the amount of people dependent on welfare programs such as food stamps by over three point one million. They also argue that one in five children would have a parent that would benefit from raising the minimum wage. Additionally two million people would be lifted out of poverty.