How To Raise Minimum Wage

Decent Essays
Show More
There are many consequences of raising the minimum wage. Because there will be many suppliers of labor who are eager to receive a higher pay, there will be a surplus of workers. However, there would be no increase in the amount of job openings available so the demand for workers would remain the same. As a result, unemployment would increase across the nation.
On one hand, people who get payed minimum wage would most-likely benefit from the minimum wage increase. Their income would increase and therefore they would have money to spend on things like grocery and clothes. As a result money gets pumped into the economy. On the other hand, people who are looking for jobs wouldn’t benefit from the increase of minimum wage because there would be

Related Documents

  • Superior Essays

    Controversy Of Raising Minimum Wage
    • 1017 Words
    • 5 Pages

    Controversy Of Raising Minimum Wage

    Baker 1 Chris Baker Debra McDowell English III 12 May 2016 Controversy of Minimum Wage “Most employees are paid more than the basic minimum wage. According to the Bureau of Labor Statistics (BLS), in 2011 94.8 percent of employees who were paid by the hour were paid an hourly wage that was greater than the Federal minimum wage of $7.25” (“Digest 4”). The controversy of minimum wage is rising in the world and the people are arguing to raise it or keep it the same. Many people do not know the bad and good aspects of raising it.…

    • 1017 Words
    • 5 Pages
    Superior Essays
    Read More
  • Improved Essays

    Raise Minimum Wage Research Paper
    • 359 Words
    • 2 Pages

    Raise Minimum Wage Research Paper

    With the higher minimum wage, moreover, we’d end up paying less for medicine, food stamps and other assistance the Working Poor Now need in order to have a decent standard of living. This proves that with the higher minimum wage things will be less money. Taken in aggregate, the more people who are employed, and the more money they earn, the more discretionary funds they will have to spend throughout the economy(Ingram, David). This proves that the economy will boost.…

    • 359 Words
    • 2 Pages
    Improved Essays
    Read More
  • Improved Essays

    Why Minimum Wage Needs To Be Raised
    • 1225 Words
    • 5 Pages

    Why Minimum Wage Needs To Be Raised

    Increasing the minimum wage could stimulate economic activity and foster job growth. The purchasing power of the minimum wage has declined over the years, necessitating adjustments to reflect the current economy. Studies suggest that raising the minimum wage would lead to higher wages for millions of workers, injecting billions of dollars into the economy. By boosting household spending and decreasing reliance on public assistance programs, an increased minimum wage could contribute to long-term economic stability and prosperity. Raising the minimum wage can yield significant social benefits, including poverty reduction, improved school attendance, and enhanced public health.…

    • 1225 Words
    • 5 Pages
    Improved Essays
    Read More
  • Superior Essays

    Benefits Of Raising Minimum Wage
    • 1438 Words
    • 6 Pages

    Benefits Of Raising Minimum Wage

    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.…

    • 1438 Words
    • 6 Pages
    Superior Essays
    Read More
  • Improved Essays

    Persuasive Essay On Raising The Minimum Wage
    • 1045 Words
    • 5 Pages

    Persuasive Essay On Raising The Minimum Wage

    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.…

    • 1045 Words
    • 5 Pages
    Improved Essays
    Read More
  • Improved Essays

    Raising Minimum Wage
    • 370 Words
    • 2 Pages

    Raising Minimum Wage

    Recently, many people are calling for an over 100% increase in the federal minimum wage from $7.25 an hour to $15 an hour. There is a claim that it would be good for the economy in many ways. It is believed that raising the minimum wage would increase spending within the economy, which would enable businesses to grow and hire more workers, and the cycle goes on. The reality is that minimum wage jobs are designed for an unskilled high school student who is learning how to balance a job and other aspects of their life.…

    • 370 Words
    • 2 Pages
    Improved Essays
    Read More
  • Decent Essays

    Raise Minimum Wage
    • 212 Words
    • 1 Pages

    Raise Minimum Wage

    Minimum wage has been a big issue in this country for a long time. There are different reasons why minimum wage should be raised and why it shouldn't. “Fast food workers make less that $9 dollars on average” (Fast food workers). “Many states have raised minimum wage why can't we”(Fast food workers).Raising the minimum wage might even mean that we will have to increase our tax pay because the more money we make the more taxes we pay. Even though raising minimum wage is important because people can't live a full life off minimum wage we still don't need to raise it almost $3 maybe just $1.…

    • 212 Words
    • 1 Pages
    Decent Essays
    Read More
  • Improved Essays

    Raise Minimum Wage
    • 476 Words
    • 2 Pages

    Raise Minimum Wage

    Families everywhere suffer every day from lack of money due to the low minimum wage standards. People who work minimum wage jobs and have children have a difficult time putting food on the tables and enjoying everyday living. Without a reasonable pay it’s not easy to afford transportation, food, clothing, schooling, or anything that requires money. The minimum wage in Rhode Island is currently seven dollars and fifty cents an hour, when calculated it comes out to about fifteen thousand dollars a year. It is almost impossible to supports a family with a pay so low.…

    • 476 Words
    • 2 Pages
    Improved Essays
    Read More
  • Improved Essays

    Raising Minimum Wage
    • 535 Words
    • 3 Pages

    Raising Minimum Wage

    Raising the minimum wage will require skilled workers to be hired in which will cause a decrease in employee ranges. For the small businesses that are just starting out the minimum wage increase will most likely be forced out of business because they do not have the money to pay their workers. Either they do that…

    • 535 Words
    • 3 Pages
    Improved Essays
    Read More
  • Decent Essays

    Increase Minimum Wage
    • 277 Words
    • 2 Pages

    Increase Minimum Wage

    Lately in the United States a very controversial topic has been minimum wage. Many people within the country argue whether or not it should stay the way it currently is or have an increase in how much it pays. I believe there should not be an increase to minimum wage. If there is an increase to minimum wage many fast food places would be encouraged to speed up the process of automating their ordering service to be able to save money by not having to pay workers. An increase to minimum wage will also cause job opportunity for low skilled workers and then harder to find a job that would be better for them to be able to live well.…

    • 277 Words
    • 2 Pages
    Decent Essays
    Read More
  • Improved Essays

    Raising The Minimum Wage
    • 1158 Words
    • 5 Pages

    Raising The Minimum Wage

    Raising the minimum wage would reduce federal food stamp spending by $4.6 billion a year. “Raising the federal minimum wage to $12 per hour by 2020 would reduce means-tested public assistance spending by $17 billion annually.”(epi.org). These savings could go towards anti poverty tools, funding for new education initiatives. The Minimum wage also reduces tax burden. A person making less than minimum wage would require food stamps, welfare and rent in many states.…

    • 1158 Words
    • 5 Pages
    Improved Essays
    Read More
  • Improved Essays

    Raising Minimum Wage
    • 1235 Words
    • 5 Pages

    Raising Minimum Wage

    “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.…

    • 1235 Words
    • 5 Pages
    Improved Essays
    Read More
  • Great Essays

    Consequences Of Raising Minimum Wage
    • 2029 Words
    • 9 Pages

    Consequences Of Raising Minimum Wage

    “Raising the minimum wage would not help . . . it would have the opposite effect because it would victimize the country’s lowest-skilled workers and make it more difficult for them to find employment” (Reisman, 2015). Raising the federal minimum wage will increase unemployment and at the same time increase the cost products and services. Per Thomas MaCurdy, professor of economics at Stanford University, “higher minimum wages help almost nobody; but raise prices for everyone” (MaCurdy, 2015). If the federal government desires to raise the standard of living in our country, “the best thing the [government] could do is to just get out of the way” (Epstein,…

    • 2029 Words
    • 9 Pages
    Great Essays
    Read More
  • Improved Essays

    Should Minimum Wage Be Increased
    • 986 Words
    • 4 Pages

    Should Minimum Wage Be Increased

    But the raise in the minimum wage would cause a domino effect that would do a good amount of harm. The raise would cause an increase in other wages and the prices of merchandise. With these being increased there would be no change in what people can afford to buy. Furthermore, companies would find ways to decrease the number of workers they hire. Also, minimum wage should not be able to feed a family.…

    • 986 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Why Should The Minimum Wage Be Increased
    • 770 Words
    • 4 Pages

    Why Should The Minimum Wage Be Increased

    Increasing the minimum wage could cut back on taxpayers billions of dollars because low wage workers would be making an increase in salary and would not need assistance, therefore taxpayers dollars would not go towards their needs. Minimum wage is the lowest wage paid to a worker according to the law. Minimum wage in my opinion should be increased. As a matter of fact, a living wage should be put in place instead, because it is the minimum income…

    • 770 Words
    • 4 Pages
    Improved Essays
    Read More

Related Topics

Ready To Get Started?
Discover
Company
Follow
©2024 Cram.com
Privacy Policy |  Cookie Policy |  About Ads |  Site Map |  Advertise  | 
  • Cookie Settings