The Pros And Cons Of Raising Minimum Wage

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.

Rex Huppke, a journalist for the Chicago Tribune, deftly discusses the pros and cons of raising the minimum wage in the last of a two-week series in “In the Minimum Wage Debate, Both Sides Make Valid Points”. Although I am for raising the minimum wage, Huppke’s presentation of the opposite argument does make one think beyond the gut reading that everyone deserves more money. Huppke’s argument that a large number of minimum wage earners are student of the elderly leads me to believe that a tier of wages would take care of the issue. For example, anyone working less than 35 hours a week would be paid at a certain rate; with full time getting an increase. I am not concerned by the argument that a higher minimum wage leads to lay-offs or price increases when most products sold in America are manufactured by cheap foreign labor. There is already a huge profit margin that could sustain such an increase. Rather than give discounts on goods and services, thus preventing employees from exercising the right to shop, stay or eat wherever the employee chooses, these employers trap workers into giving back the very money they have “slaved” for.

Since 1938, when the minimum wage was first introduced (at a rate of $0.25 an hour), the federal minimum wage has increased 22 times. The minimum wage is the salary floor, or the lowest possible rate that employers can pay employees.

Raising the minimum wage would hurt the less fortunate families. It spreads income unevenly. Some people would receive more pay and others would lose their jobs making families and the economy suffer. If someone have a minimum wage job that pays $5.15 it is better than no job at $6.00 (Henderson). If someone has a job that does not pay well be thankful for it, it still provides for the

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

The United States economy is still soft and prone to falling apart, and there is a debate that is on going as to whether the minimum wage should be increased or decreased. The minimum wage is a well known price floor, and that is what we need for our economy right now . I personally believe that we should not increase the minimum wage, but decrease it instead. I would rather have the minimum wage lowered than increased because that will only lead to negative side effects. For example, if the minimum wage is increased then the government will need to mint more money and the effect of minting more money is inflation. This will cause the American dollar to go down and worsen the economy even more. Another thought is that what the United States needs now are jobs. If the minimum wage is increased then existing jobs will want their workers to have more experience and for those people that are in dire need to a job will have a lower chance of getting the job because they

Americans are worried about how the minimum wage will be change to best fit everyone’s needs. There are 45 million families living in poverty that can’t get out no matter how hard they try. The economy will undoubtedly be affected if the minimum wage will be changed raising of the minimum wage will reduce the amount of some jobs. Over the years inflation has caused controversy on how the minimum has not gone up with it. Additional actions will be needed to take people out of poverty then just raising the minimum wage. In order for there to be a smooth transition there needs to be more done before just raising the minimum wage. One looking through the economic lens can see that this a huge topic and very contraversonal.

Raising minimum wage has been a debate for quite some time. This Essay will go over Pros and Cons. I will research both sides of this ongoing debate. Listing a few from each side. Coming to a conclusion that raising minimum wage is what would be best for the citizens of the United States and for the economy.

The words “raising minimum wage” typically strikes fear into the average person because they can’t imagine a high schooler making more than 10 dollars an hour. However, they’re missing a crucial key word to this plan – minimum. Yes, that guy that messed up your burger at McDonalds would be making 12 to 15 dollars an hour. But that doesn’t mean that you also will, or that your mother, father, sister, what have you, will be making that same amount. By raising the minimum of something, you also raise everything above it by proxy. Someone who makes 15 dollars an hour will be making up to 23 dollars an hour or more. This change would, of course, happen gradually, so our economy has time to

When I read high schoolers and people who work at jobs that pay minimum wage say that raising minimum wage will solve everyone's problems, it honestly makes me think that they don't understand anything about the economy. When you raise the minimum wage, the price of essentials and necessities also increase. An example of this would be the 1970's, The price of everything was at a very low cost. Such as, Milk which was only $1.65 which today would be far better than the costly price of $3.67. Although you may be convinced that the 1970's seems an easier time to live in, you are actually quite inaccurate. While the prices of everything was low so was minimum wage at a meager one dollar an hour. The price all around of everything increases because

If the increase in minimum wage were to be granted, the price of every item will increase to keep the profit margin to its merchant. In the article “In Defense of the Fast Food Industry” Jason Leavitt explains, McDonald’s Corporation charges its franchises 4% of sales and an additional fee which could be as much as 8.5%. Prices will need to be raised to cover the expense of materials and labor. The higher cost will simply drive customers away and it will be less likely that a consumer will spend their money in a fast food restaurant for fast and cheap food. If it is no longer cheap then most businesses will fall behind. With less money being spent and less businesses to tax, increasing the minimum wage will only hurt the economy.

As stated, “...the minimum wage increases have put an extra $1 billion into workers’ pockets, according to The Fairness Project, a non-profit organization that helped lead the ballot proposals last year. By the end of the year, that figure will rise to $3 billion” (Source A). Increasing minimum wage even just by a dollar, could help workers tremendously throughout their everyday lives. This could help the economy because low wage workers would have extra money, causing them to invest in more things. Also, “A raise in the federal minimum wage would also increase the number of Americans living in the 10th percentile income bracket. And these are just the short term effects...Over time, this 39% increase in the federal minimum wage would result in a reduction of impoverished people by 6.8 million” (Source B). Many Americans will be living with a suitable income. This will help improve a decrease impoverishment in America. Lastly, roughly 1,408 workers who are 25 years or older, 1,013 are below minimum wage (Source C). An enormous amount of low wage workers who are only limited to a high school education, are being paid below the federal minimum wage. This could make financial living extremely difficult for

There are many pros and cons when it comes to raising the minimum wage. The cons outweigh the pros dramastically when it comes to this subject. Here are some examples on why raising the minimum wage is not a good idea and is bad. It raises prices for the customer's, job cuts, and over all it is more about politics and votes then is is to actually help the american people.

Prices of goods and services are already increasing much faster than they should be. “ A cup of coffee for example, could increase 10-20%,(“Minimum wage pro-con.org”1)” procon.org stated. Ten to twenty percent is outrageous, imagine if everything costed that much more nobody would be able to afford anything. They also later stated a fact that they had heard from companies, “ Food product could be reduced up to 70% in size, (“Minimum wage pro-con.org”1)” that would be like ordering a burger now for the same price and only getting a tiny slider instead, that definetly is not a benfit by any means. Procon.org also found out, “According to a survey done by the University of Purdue if the minimum wage was increased between 15-22 dollars would increases prices from anywhere to 4.3% price increase to 25%” (“Minimum wage pro-con.org” 5). That's hard to wrap your head around, even at the low end of a 4.3% price increase that would be outrageous, not to mention it could be

The minimum wage is the lowest possible wage that employers can legally pay their workers. Today, it seems like everyone has their own opinion on the minimum wage. Should it be abolished, raised, or should it remain the same? I will talk about the pros and the cons of raising the minimum wage as well as my own opinion if it should be raised or if it should stay the same.