Why Do Oil Monopolies

Some argue that if an increase in minimum wage is passed businesses will raise the prices of goods and services to help compensate the cost of pay raises. The cost in goods and services is already on an increase due to the high host of gas/oil, yet we are

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.

In the article: “The Pros and Cons of raising the minimum wage” it is said that the raise in minimum wage will cause a price increase. How can this happen? The article states: “Employers might income to support their more highly paid minimum wage employees, which could ultimately create a ripple effect for other shops and industries, resulting in a slightly higher cost of living” which will cause to raise the minimum wage once again. In other words, the effect of raising the minimum wage will cause to increase the price in the market so that the employers can pay their employees. Once again, those who work will keep on being on poverty and the idea of raising the minimum wage will be debatable

Raising the minimum wage to fifteen dollars an hour could increase the poverty gap in Texas. The raise in minimum wage affects everyone, especially the non-working class and low-income families. These groups of individuals could suffer by not being able to afford

Raising the minimum wage could help a lot of family in this country and the one that come here for a better a life that work hard to sent money for their family over the seas or try to get them here sometime they have two or three job cause they can't go school or have no time to cause they have to provide for their family, even family that were born her struggle to make a living in sometime need the government help, if they was getting pay for fair amount of money per hour they could've support their family more and live in a better environment

If the government decides to continue with the drilling of new sites or expand the Keystone XL Pipeline there are environmental dangers and concerns to follow and still not enough oil production to fuel the countries demand. The importing of oil from foreign countries would still be a necessity. For now the prices of gasoline are still on the rise and with use of the oil money future tool prices are sure to continue rising. As it seems in this current economic crisis, consumers need to make their voice heard with the government and hope something will change with the way oil is produced and imported to lower the cost for everyone.

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

A fifteen dollar an hour minimum wage will affect over three hundred thousand workers and cost over two hundred twenty eight million dollars over the next five years(Deng 1). San Francisco raised the minimum wage to fifteen dollars an hour. That being said The Mark Perry of the American Enterprise Institution, Adam Ozimek and Stephen Bronars of Edgewood Economics reported that since the increase many restaurants and hotels have laid off workers (Puzder 1). This comes as no surprise since in 2014 the Congressional Budget Office found that increasing the minimum wage to ten dollars and ten cents an hour would result in 500,000 job losses ( Puzder 1). As of right now 6.5 million Americans are working part time because they’re unable to find full-time jobs and opportunities ( Puzder 1). Raising minimum wage is only going to hurt those that are currently part time, unemployed and the upcoming generation of young adults just now about to enter the working

According to a study done by Perdue University, “…paying fast-food restaurant employees $15 an hour could lead to higher prices. Prices at those businesses could increase by an estimated 4.3%, according to the report” (Wihbey, Effects of raising the minimum wage: Research and critical lessons”). With a higher minimum wage, businesses must then pay their employees more, and to pay these additional expenses; they are coerced to charge more for their products, which impacts everybody, making it more difficult for people to provide for their families. The Cato Institute stated, “According to a review of more than 20 minimum wage studies observing price effects found that a 10 percent increase in the US minimum wage raises food prices by up to 4 percent” (Wilson, “Four Reasons Not to Raise the Minimum Wage”). If the federal minimum wage increases from $7.25 per hour to $15 per hour, it is being increased by slightly more than 206%, which, according to this study, could lead to almost an 84% growth in food prices. According to another study on the effects of an increase in the federal minimum wage on consumer prices in the Reason magazine, “Raising the minimum wage to $15 could increase the cost of food by 43%” (47: 10). After a significant increase in the federal minimum wage, the employees who did not lose their jobs would then be receiving

A recent study at Purdue University showed that if minimum wage is increased to fifteen dollars an hour, which is what a lot of the people want, then the prices of goods will go up 4.3 percent (McClure). They also determined that if it went up to twenty-two dollars an hour then there would be a twenty-five percent increase in prices (McClure)

Do you want the oil to stay or to leave North Dakota? While this is going on in Dickinson North Dakota some people like it and some hate it. It started happening in April 2014 through November 2015. Therefore if people keep complaining about the oil they will run out of items they use in their everyday life. Even more people will be mad about the oil if they own land and it gets torn up or dug up for oil. They also use oil to put on roads and paint what kids use most days. Some people don’t like the oil because it is loaded on trains and those trains have even blown up before. The people that generally care about the oil are the people working there and making money on it. Some reasons why people like the oil in North Dakota are because

Some people argue that decreasing the oil we use would harm the economies of countries like Venezuela that depend on America buying their oil.  However, as third world countries grow and develop, they will also need fuel sources and the United States has no right to monopolize large portions of the available resources.  Besides, it is not the responsibility of the United States to provide markets for all companies in the world.  Markets come and go, and

With the increase of mandatory employee pay, the prices will go up in everyday items that are needed for survival. This is due to companies having to pay their workers more money. In order to keep the same amount of profit, these companies will have to increase the price of their products and services. The low income families will have to spend more money for goods. Amendment 70’s will increase money into pockets of Coloradans, but it will be spent the same way. The money they have left over may not be enough to even help pay for things except for extra groceries or gas. The families will not also be affected by the jump in wages, but so will restaurants. These restaurants will either lay off employees, which would leave them shorthanded in addition to people losing jobs. Or it means that the price of food will go up at that certain restuarant. Small town businesses will face difficult times since they will have to be shorthanded just to stay

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

Tony, you talked about some great ideas and information that you found during your research. I like the fact that you brought up the business issues that could possibility arise. I do strongly believe that it could become an issue especially since our economy changes from one state to another constantly. I truly believe that small and local business would be drastically affected by this change and increase. I would also have to say that increasing minimum wage would probably lead to increases prices due to companies feeling that everyone should be on the same page. Since they are aware of minimum wage increasing it would be thought that increasing price would not harm anyone because Jack who was making $7.25 last year is making 14.50 this year