By focusing on just receiving the higher wage and having more spending money, most American people in the labor force overlook the immense amounts of issues that come with a minimum wage increase. They claim that only positive aspects will result in the increase; the more money that people receive, the happier they are. Although that does hold true, they must learn the consequences of the wage increase. The people must realize that if there is indeed an increase, that some of them will result in the unemployment business. Whereas the others that are lucky enough to still possess a job receive a decreased number of hours to work.…
There is debate on the social benefits of a minimum wage and how it helps to protect the health and well-being of employees. Despite the intention of protecting workers, there is also controversy regarding how increased wages impacts firms, especially smaller ones. This is an important topic as minimum wage is a popular political topic and it is necessary to look at historical data to see if the benefits of raising minimum wage outweigh the negative…
Minimum wage is a relatively new concept in the labour market. It was created with the idea that minimum wage will be a stepping stone into a better paying job in mind. As the years have gone by, minimum wage jobs have evolved from supporting teenagers and giving them the necessary experience in the work field to supporting families. It’s this change in dynamics that fuels the argument that minimum wage should increase to a living wage. What people fail to realize is that minimum wage exists for a reason and should it be increased; the positive impacts are outweighed by the negative impacts in the economy.…
Increasing the minimum wage will raise the level of students that will have a higher level of education. As the number of education students increases so does the workforce, there are more people that are eligible for jobs, therefore less students that are unemployed and unqualified for the work force. If there is a lesser unemployment rate than the people who live in lower income areas will have stable jobs, therefore having a steady income, allowing the economy in these areas to flourish, allowing the standards of living to rise. As a result of the standards of living raising, the crime in these communities will go down, creating a safer place to live and less illegal criminal activity, therefore less black markets, this means that. It is a common disbelief that raising the minimum wage will create a surplus.…
So in order for employers to make more money, they are willing to pay their employees that first start off as low as minimum wage. Employers are willing to let go employees who do not like the wage they make because employers know that there are thousands of people who are willing to take over the job just to generate some income. As a result of this, employers take advantage of people who are willing to work at such low wages, therefore it’s for their own benefit to keep the wages low. However, if the employees were making more money, than minimum wage then they’d be more happier. A happy employee is a productive employee, a productive employee is willing to work to their best of their ability, and make such efforts at impressing the managers, and satisfying the customers.…
One of the most frequently asked questions in our country seem to be should minimum wage be raised or should it be lowered or eliminated altogether, from where I stand minimum wage should be raised. Changes to the minimum wage would strengthen the economy and business, lift Americans out of poverty. Paying people a fair wage is a sign of respect and acknowledgement of the value of people contributions to the business. Increasing the minimum wage will lower the poverty level. While an increase in the minimum wage would raise the earnings of many workers and lift some families above the poverty line, some minimum-wage workers would remain poor.…
Rather than the misconception upon the theoretical downfall of businesses and labor due to the rise in costs. The benefits we have observed is that there is less poverty in a sense due to the decrease in difference between those who earn more and are at minimum wage. The other historic statistical data discussed earlier proves to us that there has been increased minimum wages, but have not hurt society as expected. As for small businesses they isn't much of an affect upon them when wages have been increased, the only thing being it is more difficult for more employees to enter. Overall we can observe that an increase can infact have a positive yield to…
On the other hand, some thinks the opposite. Not too long ago, people are proposing for a 15 dollar minimum wage by the year 2020, 4 years from now, in hope of improving poverty. Raising minimum wage can affect everyone in one way or another. However, raising the minimum wage will only do more harms than goods. Raising the minimum…
Raising the minimum wage throughout the United States could have great benefits to some, at the same time many other problems could actually arise. President Obama states that a family cannot live off of a salary of 7.25 an hour, especially without government help. I believe this is not true, already many jobs pay higher than the minimum wage and the jobs that only offer 7.25 tend to be specially intended for high school teens or people who don’t have a whole household to take care of. It must be really hard to be stuck forever at a job that pays only 7.25, but if the government makes a law and raises the minimum wage to for example 9 or 15 dollars per hour, all this people with “minimum skills” would be rewarded costing them no extra effort…
Rather, it would help create jobs because of the increase in demand. The Economic Policy Institute stated that a minimum wage increase could help to create around 85,000 new jobs over a three-year period. This would be very beneficial for our society. Another way in which increasing the minimum-wage would help is by decreasing poverty. A study done by the Congressional Budget Office in 2014 found that a raise in the minimum wage to at least $9 an hour would bring approximately 300,000 people above the poverty line.…
“Increases in the minimum wage actually redistribute income among poor families by giving some higher wages and putting others out of work. A 1997 National Bureau of Economic Research study estimated that the federal minimum-wage hike of 1996 and 1997 actually increased the number of poor families by 4.5 percent.” (Henderson). As you can see from this statistic, a raise in minimum wage in attempt to lift families out of poverty, and benefit minimum wage workers, failed in multiple ways. It created more competition among jobs that require little to no achieved skills, and contributed to an increase in poverty level.…
Minimum Wage A hot topic across the United States is the debate about raising minimum wage. In Iowa the minimum wage is seven dollars and fifty cents. Some states have higher minimum wages but that could be due to the cost of living in that state. The United States’ minimum wage is seven dollars and fifty cents which most states follow. New York’s minimum wage is nine dollars an hour.…
It turns out that increasing the minimum wage means decreasing job opportunities. If the minimum wage increased, people will face lots of problem such as- it would result in the job loss evidence of job losses, hurt low-skilled workers, little effect on reducing poverty, and it may result in the higher price for consumers. Most Americans agree the current federal minimum wage is not enough to live on. It is hard to imagine some families are surviving on just $15,000 a year.…
Happiness may not be a given either if the employee does not feel that they are being compensated fairly for their work. Only 20.8 percent of all minimum wage workers were heads of household, while 49 percent of those working at federal minimum wage are those under 24 live above the poverty line. An increase in minimum wage would also cause employers to cut training, increase layoffs, cut back on benefits; reduce school attendance, and encouraging employers to hire illegal immigrants. It would increase the demand for workers with skills as it reduces competition in low skilled workers. Increase minimum wage won’t reduce the poverty levels, especially when a reported 63.5 percent of poor Americans don’t work (CATO).…
Through utilitarianism we can measure up the happiness raising minimum wage would bring us. At first glance one would think getting paid more would decrease poverty in the United States therefore causing more…