The Benefits Of Raising The Minimum Wage

“A 15 percent increase in the minimum wage nationwide would destroy about 290,000 to 590,000 young people's jobs, and about 400,000 to 800,000 jobs overall” (Henderson, David R). Due to the Fair labor Standards act, the federal minimum wage, or the lowest you can pay an employee for work, currently stands at $7.25 an hour. Although a number of Americans think that raising the minimum wage would benefit our country, it would actually bring a number of problems to our economy, such as a rise in job loss and high school dropout.

The federal minimum wage in the United States is currently $7.25 an hour. Increasing the minimum wage would lift approximately 900,000 people out of poverty. Forty-three million Americans are living in poverty due to low income, health care costs, childcare costs, college costs, and housing costs. The federal minimum wage should be raised because it keeps up with inflation and would scale down poverty levels.

Picture this: You are a single parent of two, you work 40 hours a week plus occasional overtime at a minimum wage paying job, you struggle to put food on the table to feed your family, and then you receive a call from the bank saying that your home is being foreclosed. This is the situation faced by thousands of Americans every year due to low income and wealth inequality. The federal minimum wage (FMW) as of April 2014 is $7.25, which is not enough to keep a family of two above the poverty line. There are certain questions on this topic that should be addressed, such as why is poverty and wealth distribution an issue in the United States today? Should the FMW be raised and why? How would raising the FMW affect American families? What are

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

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

The owner of the fast food giant, White Castle said that over half of their stores would have to close in order to account for this new wage. Thus laying off thousands of workers (6). In contrast, some research has shown that raising the minimum wage will help new businesses open. The $22.1 billion boost in the economy that the Economic Policy Institute reported will come (1), will increase consumer spending. This will allow other businesses to make more money and open at new locations, and causing new workers to be hired. These new workers will now have money to spend at other businesses and the cycle will

The average hourly pay in The United States is $25.73 (Table B-3). That is more than triple the minimum wage. If the minimum wage is increased, it would eliminate people’s incentives to improve. On top of that, inflation would occur, and poverty would virtually stay the same. In addition, raising the minimum wage would bring on hardship for small businesses. Of course, one may argue that the minimum should cover the cost of living, but people should have to work for their money. The minimum wage should not be raised in the United States.

The federal minimum wage was officially established in 1933 as a law. However, in the article Fair Labor Standards Act of 1938: Maximum Struggle for a Minimum Wage, Jonathan Grossman stated that it actually was struck down after two years by a Supreme Court case and was not reestablished until 1938. Grossman explained how the formation of this law had to endure many so called “Supreme Court disasters”. The Supreme Court at the time voted against many cases regarding state level minimum wage laws and declared them unconstitutional. Grossman put in his article that several of these decisions were among the most unpopular ever rendered by the Supreme Court. Only three years later though, thanks

The minimum wage is basically the lowest an employer can give there worker an hour, and abide by the labor laws. In most states the minimum wage is $7.25 per hour, but in California and Massachusetts the wages there is $10.00 per hour. Senator Bernie Sander agreed to living in poverty with the wage set at $7.25 per hour, and that if he made it into the office that he would introduce a bill to raise the wages all over to $15.00 per hour. The benefit of raising the wages would help low income families throughout the economy, and help with unemployment. Overall, this is based on our President and Congress whether a law like that can be passed.

Imagine standing over a scorching grill for hours, taking care of the elderly, both lifting and transporting heavy loads, basically doing back breaking work; only to be making less than $8 and hour. That is the reality for millions of people in the work force who are earning minimum wage. Whether or not minimum wage should be raised has been a question many people have been discussing for years and has become quite controversial. Those opposed to increased minimum wages would argue that a minimum wage salary is already sufficient enough, or in some cases even “too high”. In spite of the opposing sides, it is almost certain that a rise in minimum wage will either positively or negatively affect several aspects of the country. For one, an increase in minimum wage could result in an economic shift. Furthermore, the current poverty level within the country, with the help of a higher minimum wage, would either decrease or as a result. Thirdly, a change in poverty levels caused by a higher minimum wage would ultimately change the amount of government spending and those who receive it. Minimum wage being raised would definitely be impactful not only the people receiving those minimum waged salaries, but also the economy, their families, and even the government funding.

Raising minimum wage has become one of today’s most popular issues to debate. Minimum wage has not grown along with inflation throughout the years and it has caused many people to fall into poverty in the United States. But what is Minimum wage? It is the minimum pay a worker is entitled to for their labor. Meaning that it is illegal for employers to pay a worker less than the minimum with the exception of a few jobs like waitressing. On July 24, 2019 the The Federal Government set minimum wage at $7.25 per hour. Although some states have established their own minimum wage standards most conform to the Federal mandate.

Minimum wage should be increased to help reduce poverty in the United States. Increasing the minimum wage would also help stimulate the economy by giving low-income workers, who often live paycheck to paycheck with little or no savings, more money to spend. The national minimum wage has not been increased since 2009, and over the years has not kept pace with inflation, leaving a large gap between minimum wage and the cost of living. A boost in the national minimum wage would also encourage higher education and lower unemployment rates. The national minimum wage should be increased to help reduce poverty, boost the economy, encourage workers to join the workforce and continue their education, thereby raising the standard of living of American

“We need to raise the minimum wage to the point where the lowest-paid worker can afford their basic needs.’(David Cooper). Many people have argued that raising the minimum wage from $7.50 an hour to $10.10 would hurt America’s economy and would cause companies to go out of business and employees to be fired. However, increasing the minimum wage would actually benefit America’s economy by boosting economic activity. This would cause more people to find jobs and decrease the amount of people living in poverty.

If the minimum wage increases, Americans will end up paying more for goods and services. Paying more will cause inflation. Costumers will not want to keep going to places that increase their prices because they will loose more money for the same quality that they were receving prior to the raises. Not only will increasing minimum wage hurt the companies but also buyers. Smith states that he would end up making less of a living if having to raise minimum wage, because that would mean to raise prices and price jumps could scare customers away. The fast food wage increase will make the prices for consumers to become higher on goods (Smith 11). Prices at restaurants will increase leading to have to leave a larger tip for the staff. The tip will be divided up unequally between the workers, fifteen percent will go for a

Which that could really happen and we would have to be careful about that happening if we did raise the minimum wage. But just think about people who can't have enough money to feed themselves or their children. Some people are barely getting by bill to bill because they pay minimum wage for working up to 8 hours. Raising it by any amount would help, I think it is better than it not being raised at all. But also something to think about is, the owners of the restaurants. Because if we raise the minimum wage they would have to pay more for their workers, which could really affect their businesses.