Why Is Raising The Minimum Wage A Good Idea?

“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.

It can also be argued that raising the minimum wage would inadvertently have a negative effect on the economy and actually increase poverty. If the minimum wage were to increase from $7.25 to $10.10, the result would be the loss of 500,000 jobs, as predicted by the Congressional Budget Office (Should the Federal). 54% of employers stated that they would lower hiring levels and 38% stated that they

Raise the minimum wage: In the United States, studies show that women tend to make up a disproportionate share of low-wage workers. In the field of education, men tends to go more to STEM than women and that also leads to high paying jobs for men. If we raise the minimum wage, this will help hardworking women to support their families. Approximately, women made up two-thirds of all minimum-wage workers in 2012. With the current federal minimum wage i.e. $7.25 per hour, someone working full time, only earn $15,080 a year round. People working full time with minimum wage is still below the poverty threshold for any family with children and single person is also not far above the poverty line. So, increasing the federal minimum wage to $10.10 an hour would help increase the wages for about 15 million women, which will help close the gender wage gap.

What kind of pay would you demand if you were expected to clean dirty toilets, pick up germy trash, and deal with customers who are nasty, rude and disrespectful to you while you are serving them? Would you do it for three dollars an hour? What about seven or eight dollars an hour? Well, many minimum wage jobs involve such duties as these. However, the minimum wage here in Illinois is only $8.25 per hour (US Dept. of Labor, 2014). In Indiana, the state where I work, it is a dollar less than that (US Dept. of Labor, 2014). The following information will discuss reasons why this wage should be increased and the benefits that accompany an increase for all of us regardless to whether we earn the minimum wage or a higher a wage.

It 's the year 2014, and we are in the state of the financial crisis which is still being felt

Figure 7.6 shows how the minimum wage creates a price floor. The difference between the wage rate and the amount of workers needed is unemployment. Figure 7.7 shows the potential loss of labor demanded by businesses. This could become a positive statement to say that raising the minimum wage will increase unemployment. "Recent research reveals that, despite skeptics’ claims, raising the minimum wage does not cause job loss." (Cooper and Hall). An

Since 2008, McDonald’s and Walmart corporations have paid their employees’ by the same federal minimum wage amount of $7. 25 per hour (Friedman, 2015). Not until recently, news stations have reported that most McDonalds and Walmart employees live below the poverty line. In fact, McDonalds has started their own McResource Line to give their employees advice on how to provide for their families while living on a minimum wage budget. Soon after, the company renounced their website after the backlash it caused from the media. Therefore, McDonalds and Walmart decided to raise their minimum wage to $9 an hour (Gasparro and Morath, 2015; Friedman, 2015). After researching, I believe large corporations such as McDonalds and Walmart should have to pay living wages, and it is extremely unethical for these

The world is filled with luxuries such as personal islands, gold-plated cars, or crystal pianos. What about everyday items like food, clothing, and shelter? Families in the United States can barely afford such items because of an American tragedy: the minimum wage. Though the sights and sounds of fluttering money is alluring, it is also elusive. The minimum wage is a tragic loss for the United States because it cannot even provide the bare minimum for employees working tirelessly for it. Opposition of raising it can be negated by statistics that show how the country can move into a brighter future. Data from economic research shows

For example there is a big gap in the amount people get paid in the state in Nebraska, where the tipped wage is $2.13 and the general wage is $9.00 an hour. It is also unfair because in other states like Montana, Nevada and California have little to no gaps, this means that these states are being payed the same amount in tipped wage and general minimum wage.

Minimum Wage Minimum wage has plagued a majority of teens and young adults for years and has never truly let up on them. Minimum wage is a huge part of how Americans live our lives. Many sources used in this paper were U.S News Articles and get information from a chief economist. Minimum wage should be increased because people want to have better lives than they have now which means that they are really fighting big government reps because they need to get better support from people to help increase minimum wage for their own lives. Minimum wage affects many Americans and how they can continue to make a living or how they live their lives.

When the minimum wage goes up, money will get shuffled back into the economy once the lowest earners can invest. “It also would help the economy by supporting consumer spending that in turn supports job growth” (Source 1). Once the lower class starts to earn more they become capable of consuming more, so in the long run it would benefit employer. Although some may argue that a higher minimum wage would hurt employers, it would not due to a gradual change. Also, more consumption of products creates more jobs which helps the economy and the general

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

In general, people always think increase minimum wage would help some of people in poverty. Of course, when the poor can earn more money, they will have more money to spent on the their daily expenditure. Is it necessary to increase just several dollars to help the poor? I don’t agree with this piece of so-called benefit policy or law.

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.

The most prevalent and steadfast myth surrounding the raising of the federal minimum wage is that it will doom the economy. This might seem logical at first, but just think about it for a second. Why do minimum wage employees need more cash? The answer is simple: To spend it, to buy the things that they and their families need to survive. “Most minimum wage workers need this income to make ends meet and spend it quickly, boosting the economy. Research indicates that for every $1 added to the minimum wage, low-wage worker households spent an additional $2,800 the following year” (Fair). Furthermore, EPI estimates that if the federal minimum wage were raised to $10.10 an hour, it would result in over