U.s. Federal Minimum Wage Essay

The minimum wage debate has been a hot topic over the past year, especially with the Presidential Election. This is a divisive topic that people rarely agree upon. There are essentially two sides you can take when it comes to this argument. Either people are for minimum wage or are against raising, or even having, a minimum wage. Proponents of the minimum wage are typically politicians who are lobbying for the vote of the people who feel that a minimum wage is critical to their wellbeing, and those who sympathize with people who earn “minimum wage”. Minimum wage is destroying America’s free market economy and someone needs to take action and find a better solution to this problem. Without anyone acting on this problem now, it can potentially be worse in the long run. Raising the minimum wage in the United States will do more harm than good to society because of the long-term effects.

The case against raising the minimum wage is very simple: a higher wage will make it more difficult and expensive to companies to hire workers. What will be the consequences on the economy? Well, companies won’t be able to pay all of its workers which will lead to more unemployment. At the end, people who keep their job will have a higher profit, however those who lose their job will suffer.

One of the most talked about subjects in the U.S economy is the topic of minimum wage. With president Obama’s increase in the minimum wage to 10.10$ per hour people, both economists and politicians alike, have been debating whether raising the bar is a smart idea. At a time when the country the country’s inflation continues to rise at a steady pace and Americans are constantly working to feed their families, some economists know that a raise in the minimum wage would help elevate some of the difficulty. The last time the federal minimum wage was raised was in July of 2009, where rose from 6.55$ to 7.25$. However, there are plenty of reasons as to why the wage should be raised. Some may not think it, but raising the

The topic of raising the minimum wage has many different viewpoints. It is thought to be affected negatively and positively. Some believe it increases unemployment and poverty. Others believe it creates jobs, helps the economy and low-income families by giving them more money to give back to the economy.

The minimum wage is one of the most controversial issues on our country, which is United States has been facing last ten years. There have been never ending debates over this issue until the government, company, and others party stand together, and raise the minimum wage throughout the nations. There are communities that believe raise the minimum wage has negative impact of every sector of the country. Other communities have different beliefs over the issue, raising the minimum wage helps the poor people, and would help not hurt our economy.

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.

The federal minimum wage should be raised $10.10 an hour. The reason why the federal minimum wage should be raised is because having a job extremely hard as it is, therefore the government should contribute into helping the citizens and make their lives better. Looking for a job is very difficult and once people have found a job than it should pay enough for their well living and other aspect of their lives. People are constantly complaining about how they are not getting paid enough, but are required to work at least full time to pay their utility bills, phone bills, gas bills, etc… I myself have been working hoping to find a decent car for legitimate transportation; which

In the United States, there are real imbalances in our wealth and wages. If these variance are the fundamental reason for political inconsistency, then these private imbalances should be decreased in order to move toward a political system where power is dispersed among all citizens. Changes in the distribution of riches and income will not change through the economy but should be established through different sorts of public policies on the state and federal level.

Many argue that raising the minimum wage makes hiring workers more expensive, eliminates jobs at the bottom, slows growth and ultimately raises unemployment. Economic studies show that raising the minimum wage to keep pace with inflation creates little additional harm, but what the president is

Proponents of raising the minimum wage claim that if the minimum wage was raised, then many economic and social problems would be alleviated. This contention is at odds both with economic principles and years of creditable research. The effect of raising or even having a minimum wage has been studied extensively and the majority of studies have proven that raising a minimum wage does not have the desired effect. Both micro and macroeconomic forces affect the results of raising the minimum wage. The secondary effects of raising the minimum wage are bad both for

Contrary to these beliefs, I believe that raising the minimum wage will not only benefit the company and employee immensely, but overall increase the productivity of workers. The raising of the minimum wage will help these low income families support their families, which decreases the poverty level too.

One of the advantages of increasing the minimum wage is that it will facilitate the lives of people, to manage, and support their families. In this case, people like Katrina will afford to pay for Health insurance. High paid salary, could bring enthusiasm for workers to give what they have and the capacity to be more productive, which will improve productivity. The disadvantages of raising the minimum wage will provoke business people to raise their prices for them to have their pay increased to be equivalent to their title and tenure. The boost in the price of goods could affect the low-income workers and hurt the middle-class Americans. Some of the job benefits such as paid vacation, gym membership, and reimbursement for parking could be cut if the minimum wage would increase. Also, some workers could lose their job as will not be possible for employers to pay

Moving along the list of advantages, increasing the minimum wage will also increase the amount of money workers have, which, in turn, will inspire them to increase their consumption and pump their extra money into the economy. If workers have more money going into their pockets from increased wages, the income effect comes into play, and provides an incentive to go out into the market and buy goods and services. In an article printed by The New York Times, it was also pointed out that raising the minimum wage would decrease labor turnover. This is because if workers are paid more, they have less incentive to leave their current job and seek a higher paying job.

The national minimum wage was introduced in the UK in April 1999 by the Labour government. Essentially it formed a major part of their manifesto as it convinced the average population that Labour were beneficial for everybody. However, they would argue against classical economics and suggest there are wide spread benefits to be gained. The main argument is that the NMW would alleviate poverty across the country.

The minimum wage increase has various components to it that are both are full of pro’s and cons. Regardless if you’re a supporter of one or the other, the numbers regarding the increase of minimum wage to me show two things. First and foremost, fluctuations not only affect the price of goods and services, but also the labor markets ability to increase the living standards for many living below the poverty line. On the plus side, we should see an increase, potentially, in economic stimulus, its said the more many one makes the more one spends causing a ripple effect thought the economy which benefits everyone. Furthermore, a huge benefit of the proposed increase would be a decline in turnover, as workers who are making more are undoubtedly more