From the point of view of someone who is earning minimum wage it may seem benefitial to raise hourly pay, but it is obvious that the negitive effects outweigh the positives. It has been long debated whether the govnerment should enforce price control by setting a minimum wage higher than what it is now. There is a supply of people to fit the demand for the work. In the topic of raising minimum was a surplus would mean there are more workers than there is work. A shortage would mean the ratio of workers is higher compared to the amount of work needed to be done. The equilibrium price is where the supply and demand are equal. The government should not increase minimum wage because it will hurt smaller
Raising minimum wage has been a battle for many decades and it has always been a battle to raise it. Many families that work for a minimum wage job often have trouble making ends meet because making $8.75 just isn’t enough in this today’s economy. Some jobs are paying $2.13 an hour but this is mostly at restaurants that are family owned but if they don’t make enough on tips they must get paid $7.25 per hour they worked. Although minimum wage has changed dramatically since 1938 when it was $0.25 cents (Kurtz&Yellin) American families simply cannot live on minimum wage. Raising minimum wage should be raised to help families that need it the most.
Is the minimum wage too low? Can it support families these days? Minimum wage should be raised for more affordability because of all the rising rates these days. Increasing the minimum wage allows adults and parents to afford an apartment. The rise in minimum wage would allow people to afford necessities and more jobs are created. Raising the minimum wage also attracts people for businesses as well. The minimum wage should be raised so that people can afford apartments, they can afford necessities and more jobs are created, and attract people for business.
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.
In America, the current minimum wage sits at $7.25 an hour, but as the cost of living has gone up, the amount paid to some of America’s hardest workers has not. This has left many people working several minimum wage jobs in order to try and get by. This struggle to make it paycheck to paycheck has created an incredibly large economic gap between the rich and poor, something that has largely contributed to the fight for fifteen. With many Americans sitting in the low to middle class demographic, there is plenty of outcry and support for the minimum wage to be raised from $7.25 an hour to anywhere from $10.10 to $15 an hour depending on the city and that city’s specific cost of living. This issue, as most issues do, has pinned many people against each other; some are all for this much needed raise in minimum wage, after all, this raise would help out most of America’s workers. On the other hand however, the consequences of this drastic raise can only be speculated about since worker’s pay hasn’t really been messed with since the late sixties. While there are good points in favor of raising minimum wage such as, allowing people to live more comfortably, and getting people off of public assistance programs, there are also the negative aspects about this pending public policy. Some of these cons are a raise in prices, a loss of jobs or hours, and the cutting out of young teenage workers from the job force. Many cities plan on raising minimum wage over the
In 2008 the United states came into recession due to many factors. Based on the article, the minimum wage should be raised. Ever since that meeting many economists have proposed different plans to solve this issue. One of these solutions for this particular issue is to raise the minimum wage. This would affect the economy, workers, and job growth which will follow in need of help. This plan would help, but there has been research that has gone against the solution stating that there is more cost than the overall benefit. There are still discussions to this day for if which they should raise the minimum wage.
How does an employer decide how much to pay his employees? Logically, he 'd want to reduce overhead costs by paying them as little as possible. Minimum wage laws exist to protect workers from being exploited by wages too low to live on, as well as in an effort to reduce poverty in society and it 's far-reaching consequences. Many states have laws that raise the minimum wage at the same rate as inflation, but the federal government does not (Whitaker 634). The value of a new minimum wage begins to fall from the moment it is set. Because the costs of living are always rising, it is a hardship on those who must rely on wages which constantly degrade in value to meet these costs. The federal minimum wage, $7.25, has become too little for anyone to live on, especially without public assistance. The federal minimum wage has lagged further and further behind inflation over the last forty years (Covert). The minimum wage should be raised to a living wage for the entire country and set to index with inflation. As the cost of living increases, the wages paid to employees to cover that cost also needs to be regulated to increase in order to address income inequality and bureaucratic oversight; additionally, recent analysis shows that there would likely be modest benefits to the economy in the event of a modest federal minimum wage hike.
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
Another reason i believe the federal minimum wage should not be raised is because if you make more money per hour employers will begin to cut the workers hours. If this happens this would not be solving anything because they would end up making the same amount of money if not less. An employer is not going to want to pay one employee a lot of money if they can pay more employers a less amount of money because that will mean at the end of the day the employer will be putting more money in his pocket. I also believe that raising the minimum wage would hurt many small business. The problem is that all businesses do not make a huge profit so they could not afford to pay a big amount in wages. This could be a problem because some people rely on these small business to support them and their workers. If these small business folded many people would lose their jobs and also their income. The biggest problem with raising it is many adults would try to get these high paying jobs and it would kick the youth out of the work force and they wouldn't be able to train for future higher level jobs so they
The question that ponders many people’s minds is whether the federal minimum wage should be increased or not. The current U.S. minimum wage is $7.50 and this wage has not increased since 2009. Families with minimum income wages are suffering due to the fact that they cannot provide everyday needs for their families. This is the reason why many people are rioting. They are frustrated with the government’s nonchalant attitude towards the hard situations in which they are living in. A final decision must be made about this topic because at this rate people’s purchasing power will diminish while inflation will keep occurring. The federal minimum wage needs to be raised in order to help improve the living conditions of poor families, increase the economy’s stability, and decrease the unemployment rate. However, some people believe that increasing the minimum wage will cause small or large businesses to fire some of their employees because they are not able to pay everyone the same wage. This will stop economic growth causing an opposite effect than what was intended. These people need to realize that increasing the minimum wage will create more positive effects rather than negative effects. The federal minimum wage need to increase to at least $10 so families are able to keep up with inflation and the cost of living.
When it comes to raising the minimum wage or not,my point of view is that generally, it is good to keep raising it, but can’t raise too much. Let me explain why keep raising minimum wage do more good than harm. We should all know very clear which group of people are caring about or affected by the minimum wage law, it is those people in the bottom of this society. Fifty dollar increase every month means a lot to them. So, increase the minimum wage is the most effective and straightforward way to improve their life quality. Too much increase, however, should be banned. For the reason that it will make them lazy and think that minimum wage is enough for me to get along. So why not I have to work harder to have a slightly higher salary
The minimum wage should not be raised. Most Americans would more likely be in favor of increasing our current minimum wage. However, in reality increasing minimum wage can damage our economy. Increasing it would actually result in higher unemployment hurting low-skilled workers, will have little effect on reducing poverty, and increase to higher prices for consumers.
There are many reasons minimum wage should not be increased. The first reason, the unemployment percent will raise. The unskilled teens will be struggling to get their first job. Then, the prices will increase to balance everything to the minimum wage earning. Workers are still going to struggle to buy their needs, when the cost of goods is raised too. Third reason, minimum wage does not help the low-income families. The low-income family’s percent is high that most are unskilled to a good job. Minimum wage should not be raised because the unemployment will raise, the prices automatic boost up, and it will not benefit the low-income families.