Should Minimum Wage Be Raised

Jason Furman and Parrot Sharon explain why raising minimum wage will help families. The wage has to be elevated to just the point where a family can actually afford all the necessities they need in order to survive. The cost of living in houses for poor people makes it difficult for them to afford it and is difficult to stay on task with all the bills. Many minimum wage workers have families to support. The cost of raising children is very expensive. It is an average of $7,100 per year. Minimum wage workers can barely afford to pay child care for one child, let alone two. Increasing minimum wage will also make life easier to those who have food stamps and child care needs. Which can also help them get into college a lot faster so they can go out and pursue a better paying job.

Right now,according to Victoria Smith,over 40 million people are living in poverty. This could be changed if they were able to get enough money from their jobs, but the minimum wage isn’t high enough right now. Even if only by a little, if minimum wage were raised, the amount of people living in poverty could be reduced by at least 5 million according to Mike Konczal . Originally, the minimum wage was at only .25 cents an hour. Due to causes such as inflation, this wage has been raised to meet the current standard. Although interest in raising the wage has gone away until recently. Minimum wage should be increased because it would increase job growth and economic activity,it would reduce government spending on welfare, and reduce poverty.

When there are millions of Americans living at or below poverty lines, something has to be done. Billion dollar companies and businesses that employ workers, paying them low wages is hurting the economy. The reality is, unless the minimum wage is raised, the cycle will only continue. With higher minimum wages in place, the entire country does better and, therefore, should be raised. There needs to be laws put place to raise the minimum wage. Doing so would boost the economy with all of the money that Americans would put into it. With higher minimum wages, millions of Americans can get out of poverty, not having to rely on the government for assistance such as food stamps, public housing, child care, and health care needs. They can afford better housing options in which they want to live. Communities would see less crimes in neighborhoods creating a safer environment. Aside from that, Americans can afford a good education, health care, as well as healthier eating and exercising habits.

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.

To begin, increasing minimum wage would increase economic activity. With an increase of $1.75 hourly, it has been predicted that there would be increase of aggregate household spending to $48 billion the next year (Aaronson). This increase would boost the United States GDP and lead to job growth, which proves that higher minimum wage equates to higher economic activity. In addition, it has also been found that raising minimum wage would would benefit

The current minimum wage is $7.25, which equals two gallons of milk, one fast food meal or two gallons of gas. Can you imagine yourself working 12-hours a day and only having enough money to pay for rent and put food on the table for your family? With working all those long hours, you can barely afford to pay your utility bills and after that you don’t have enough money or time for luxuries like clothing or vacation. You have no savings as matter of fact, you are in a huge debt and you are living paycheck to paycheck. This is the story of millions of American worker, who are employed on minimum wage. The shocking part about this story is that million of Americans would be saved from this poverty life, if the American government raises the minimum wage. This would not only help the workers, but also the economy because raising the minimum wage would put extra money in the pocket of minimum wage worker and extra spending would help restore consumer spending.

Should America’s minimum wage be raised from $7.25 all the way to $15 an hour? Many are for raising it because they say it will decrease the amount of families living uncomfortably in poverty struggling to pay rent, feed their children, and make ends meet. But those who are against it, say it will increase the amount of businesses going bankrupt and will drive unemployment sky high. Critics of minimum wage say that minimum wage should be changed to living wage which will take the economy into account and would provide families with enough to live a comfortable lifestyle. Raising minimum wage in the United States to $15 an hour would be a bad idea for three reasons, earnings per share in even large stores would plummet, it would drive unemployment to an all-time high, and it will not take the economy into account.

How much would raising minimum really affect the world? Raising minimum wage would not help the world the way we think it would. Instead it would cause more negative effects over the positive. Minimum wage is now only $7.25 per hour but many people want it to be raised to $10.10 per hour or possibly more at $15 which is more than double of what it is now. Having minimum wage as high as $15 could have more negative issues. Minimum wage should stay the same at $7.25 because raising it higher will not help the poverty and economy, workers and incomes, and have negative effects in general.

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

Raising it to $10.10 an hour isn’t enough to lift all workers and family out of poverty. If we raise minimum wage to $15 an hour,people will be earning more money, and the more people earn, the more that they spend. If people buy more, then businesses earn more and the more our economy benefits from it too. ” Having a healthy economy can keep our country stable, and that is what we want.” (http://thelawdictionary.org/article/the-pros-cons-of-raising-minimum-wage/)

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.

economy, decreases dependence on federal assistance, and is supported by our citizens. The minimum wage increase must be phased in over several years. The best plan is to increase the wage over time by increasing it 33% of the total change per year (roughly $2.58 increase in wages every year). Over 25 million workers would benefit from a fifteen dollar per hour minimum wage. United States workers who make between $7.25 and 9.83 per hour (first phase) would immediately get a boost in income. The workers just above the new minimum wage would also get an increase in wages to maintain internal pay scales, as would their superiors and so on (Pacitti, 2015). This ripple effect can lead to up to 25% more income for low-wage workers than the new minimum wage. This leads to an economic

Businesses would be hurt because they would lose money from having to pay their thousands of workers $15 an hour. Also, in attempt to keep their income, businesses would have to lay off more than half of their workers, hurting people more than helping them. If minimum wages are raised, there would be millions more jobless people, and possibly thousands more homeless people. Is that what you want? Do you want millions to suffer just so a few thousand people will be paid $8 more an hour? A raise in minimum wages will throw people off their tracks, and millions have to live more scarcely than they were used to living due to lack of income. The only thing that would happen to the majority of the population if minimum wages were raised is losing their jobs. As you can see, a raise in minimum wages would be fatal for millions of

The majority of people working minimum wage are Raising a minimum wage can reduce expence for social program. Low income people are mostly alike to receive an additional support of government, their run social program to support thenselves and their families.By raising a minimum wage most of people can take care themselves and help fort their family need without leaningas heavily on social programs.The money government spent to assiste them can be reallocated to help other need.

Raising minimum wage would increase economic stimulus which would allow more people to have more money and would ultimately mean this would ripple throughout the economy and will be able to spend more.