Minimum wage laws in the united states have been around for many years. The minimum wage is a topic that a lot of people have opposing opinions. Most people want a federal increase in minimum wage while others would rather it decease or just the same. I am a firm believer that increasing the minimum wage would hurt business’, consumers, and the economy. Minimum wage jobs are also not meant to support families it is for unskilled teenagers and people needing quick money. Increasing the minimum wage would also change those supporting their families with just those jobs different tax brackets. The minimum wage affects the cost of goods and services provided by those minimum wage jobs. The federal minimum wage is a bill that has caused the economy
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The problem with this type of thinking is that people believe that minimum wage jobs are careers and deserve higher wages. While most minimum wage jobs are usually hard, aggravating, or not appealing they are usually low skilled jobs. The jobs are usually fast food, gas station clerk, waiter, or a related job. Most of these jobs were intended to give teenagers a way to have some money or gain some experience of discipline. However, this is not the case, in Boushey’s article she states “in the early 2000s, less than one-in-five workers earning the minimum wage was under the age of 20…” (Boushey, pp.1). Based on this information we can see that teenagers aren’t working minimum wage jobs. Which means older people who usually have graduated high-school, college, or any other higher education are working the minimum wage jobs. This in theory means more skilled people are taking the less skill based jobs. The Bureau of Labor Statistics keep track of different types of information, their study of the 2010 work year showed that 1.8 million works were paid the minimum (Wilson). As stated before this …show more content…
Increasing the minimum wage doesn’t just affect the cost of thing but it also affects the employment rate, and labor hours. Due to this it can also effect the productivity of the workers because of the negative affects these changes can cause. Business’ must have a successful finance plan to make sure they don’t go bankrupt. This means they must keep balance between all income and outgoing payments. When minimum wage is increased this off throws the balance of the business plan. If they keep everything the same while the outgoing price increase their profits will shrink. To keep their business successful, they must make changes to keep the profits high. The most common response to this is to fire least skilled workers since they require extra training and will usually leave within a years’ time. Studies show that the effect of unemployment falls primarily on the disabled, teenagers, less skilled workers, immigrants and minorities (Wilson). People want the minimum wage to be increased because they believe it helps the most poverty stricken. However, the people effected the most by that are usually the most poverty deprived (Wilson). When the minimum wage was first implied in 1938 it resulted in anywhere from 30,000 to 50,000 job losses (Wilson). That was when the minimum wage was just a quarter which relates to around 4 dollars in today’s economy. This was held true when it first began and it
The problem with this type of thinking is that people believe that minimum wage jobs are careers and deserve higher wages. While most minimum wage jobs are usually hard, aggravating, or not appealing they are usually low skilled jobs. The jobs are usually fast food, gas station clerk, waiter, or a related job. Most of these jobs were intended to give teenagers a way to have some money or gain some experience of discipline. However, this is not the case, in Boushey’s article she states “in the early 2000s, less than one-in-five workers earning the minimum wage was under the age of 20…” (Boushey, pp.1). Based on this information we can see that teenagers aren’t working minimum wage jobs. Which means older people who usually have graduated high-school, college, or any other higher education are working the minimum wage jobs. This in theory means more skilled people are taking the less skill based jobs. The Bureau of Labor Statistics keep track of different types of information, their study of the 2010 work year showed that 1.8 million works were paid the minimum (Wilson). As stated before this …show more content…
Increasing the minimum wage doesn’t just affect the cost of thing but it also affects the employment rate, and labor hours. Due to this it can also effect the productivity of the workers because of the negative affects these changes can cause. Business’ must have a successful finance plan to make sure they don’t go bankrupt. This means they must keep balance between all income and outgoing payments. When minimum wage is increased this off throws the balance of the business plan. If they keep everything the same while the outgoing price increase their profits will shrink. To keep their business successful, they must make changes to keep the profits high. The most common response to this is to fire least skilled workers since they require extra training and will usually leave within a years’ time. Studies show that the effect of unemployment falls primarily on the disabled, teenagers, less skilled workers, immigrants and minorities (Wilson). People want the minimum wage to be increased because they believe it helps the most poverty stricken. However, the people effected the most by that are usually the most poverty deprived (Wilson). When the minimum wage was first implied in 1938 it resulted in anywhere from 30,000 to 50,000 job losses (Wilson). That was when the minimum wage was just a quarter which relates to around 4 dollars in today’s economy. This was held true when it first began and it