04.02 Assignment As election news sweeps through several media outlets, controversial topics fire up and are debated across the nation. The American people fire up their minds, reach into their stockpile of information, and begin to passionately fight for the matters that are important to them. One topic that has gained momentum is the fight for a higher minimum wage. There are many who support this argument but there are several that believe the opposite. Raising the minimum wage will help the economy grow and will help minimum wage workers by providing them a wage off which they can live.…
Since 1938, the minimum wage has been raised several times; usually it would occur almost every year, sometimes it would happen three or four years later. But now, it hasn’t changed for the past five years. In 2007, the minimum wage was $5.85; in 2008 it was raised to $6.55, and then again in 2009, it was raised to $7.25. It is now the year 2014, and the minimum wage remains at $7.25 an hour. A full-time worker who is paid the minimum wage would make an annual income of $15,080.…
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.…
Is the American minimum wage a living wage? I was at the CenturyLink Stadium working my ass off. I was holding up a banner on the field for what felt like an eternity. That day I worked 7 grueling hours on the field while taking breaks in between.…
There has been quite a lot of talk about raising minimum wage. While this seems to be a great idea, after you analyze this matter you may think otherwise. Not only will this hurt the workers raising minimum wage will also be bad for the economy, consumers, and small businesses. Many people may say raising minimum wage is a good thing, but it will prove to be a nightmare for workers. Since businesses have a certain amount of money for workers they will do one of two things to compensate for a minimum wage hike.…
The notion of raising the minimum wage is dividing people on their opinions of whether it could make or break the nation. With many small businesses built on giving low income to their workers, the increase would definitely ruin them, thus disrupting the economy. However, one should not look only into how it will affect the economy, but the lives of those who are making low-income salaries. Although an increase in the minimum wage could generate drastic consequences, its benefits will offset any of the bad effects it may have and solve a number of society’s problems. Most people believe that raising the minimum wage can result to a substantial loss of profits that force smaller businesses to close down.…
The minimum wage is a hot button issue in America, especially in California. The minimum wage is the minimum hourly wage an employer can pay an employee for work. Currently, the federal minimum wage is $7.25 an hour. A law proposed by Gov. Jerry Brown would increase Californians minimum wage from $10.00 an hour to $15.00 an hour. Many including myself believed that increasing the minimum will hurt workers, business, and overall disrupt the economy.…
With the 2016 presidential election quickly approaching, the minimum wage has become a hot issue of debate among both Democratic and Republican candidates. Due to vast the social justice and economic implications contained in the idea of minimum wage laws, opinions on the issue range across a wide spectrum. First, there are those who are proponents of a minimum wage as a means of combating income inequality and promoting economic belief. Typically, proponents see a raise in the minimum wage as an opportunity to stimulate the economy by providing people with more money to spend in the economy, decreasing the expenses and need for social welfare programs and allowing businesses to hire more people and increase revenue through increased consumer…
Many of our representatives in Washington have been discussing the advantages of adjusting the minimum wage. Many people are looking at the short term gains of having more money in their pockets. Raising the minimum wage, however, would affect the economy of the United States of America negatively, hurt the private sector, and would stunt the growth of the United States economy. Employers do not feel an obligation to hire a laborer if the minimum wage has been raised to a greater amount than the work itself is valued. Once the facts are established, it is very evident that a raise in the minimum wage would damage the recovery of the United States economy.…
If the United States raises minimum wage to $15 then workers would lose their jobs. For example, “... many low-paid workers could lose their jobs or find fewer openings as employers cut back to cope with the higher wage” (Lee). This quote shows how workers would lose their jobs and there would be less job openings. People would be out of jobs because owners and employers would have to focus more on paying more employees.…
Raising the minimum wage will just cause artificial inflation in the cost of goods. This not only hurts the minimum wage worker, but it hurts the entire consumer market. Consider this logical hypothetical situation. The lowest paid employee at a company is making minimum wage at $8 per hour, the next higher employee on the scale is the shift manager making $10 per hour, the assistant manager at $15 per hour and the general manager earning $25 per hour. If the federal government raises the lowest paid minimum wage employee to $15 per 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.…
If the federal minimum wage were to be raised to a living wage, companies who are paying employees a couple of dollars above the current minimum wage would have to increase the wage of those employees to a wage higher than the new minimum wage. This would result in significant reduction for businesses to higher new employees because of the cost to keep them employed. James Sherk and David Cooper, who are the authors of “Should the Federal Minimum Wage Be Increased?” examine the pros and cons to raising minimum wage. In their article, while examining the downfalls to increasing the minimum wage, they say, “Raising the minimum wage will price less productive workers out of such jobs” (Sherk, James and Cooper, David). In this part of the article, they are making a point that if the minimum wage is raised, restaurants such as McDonalds will lay off their workers who are less productive.…
Minimum wage Minimum wage is the least wages that employers are supposed to pay the employees. It also refers to the lowest values at which the employees are expected to sell their labor. Various nations throughout the world have adopted the minimum wage laws. The issue of minimum wage has been a controversial one in for many decades. This is a global problem because heated debates have existed on whether the minimum wage should be raised or not.…