Raising Minimum Wage Analysis

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The average rate of minimum wage for nonexempt employees per hour is about $7.25. In the article, Raising the Minimum Wage Would Help, Not Hurt, Our Economy. It discusses how raising the minimum wage rate would be beneficial to the economy, which i also believe to be true. Raising the minimum wage would be very beneficial because it helps families that our in poverty/ in debt to help get themselves back on their feet. to help support their families. I think that if we boost up minimum wage rate to at least $9.25 it will be very beneficial to the economy, and especially the workers who are working for minimum wage. in the article is says that there is even a senate set to vote the minimum wage from $7.25 to $10.10. That the only reason it wasn …show more content…
In the article Minimum-wage increase would benefit many. It talks about many reasons why raising minimum wage would be better. in the article it says that raising the minimum wage to $10.10 an hour would help people above the poverty line almost about a million. Which you can see crucially makes a difference in families lives. Helping people get out of poverty would also decrease the need for families to have public assistance as well. I think that this is an important factor because families get to learn how live life on their own without having to ask for help. Which helps because it boosts families confidence and brings up their pride. Another pro is that the more money they get the more they spend. when they spend their money it helps other businesses economic growth increase. It gives businesses and countries more power in the economy. In a result of spending more there will be a higher demand causing other employees to get hired. The result of rising minimum wage will boost up productivity in the work place. They more that they get an hour the more they will want to work harder in my opinion. Because it shows that if they care enough to give them $10.10 then they will care enough in doing their job successful. …show more content…
In the article, The Negative effects of the minimum wage. One major disadvantages is that if the minimum wage gets higher it will motivate teenagers to drop out of high school and work full time for minimum wage. in the article it says that some minimum wage upholders encourage/claim that teenagers should be in high school and college rather then working. Unfortunately many do drop out and the more they drop out the less availability there is for employment. Which in my opinion is very true, i have personally seen some of my friends drop out of high school and college just because they have found a job that pays them well. Another reason is that it also decreases other job benefits. it was said that even when or if minimum wage does rise is may not even help or benefit low waged workers at all. Higher wages force the employees to have to adjust their compensation, and other ways that they need to adjust. Such as cutting on job training, health benefits and etc. They do have a good point, because if minimum wage is supposed to be benefiting the workers then why is it taking away the benefits from the workers? It doesn’t seem right. Don’t get me wrong i think that it is important to raise minimum wage but when you 're cutting benefits like this, it doest seem justice.

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