Essay on The Cost Of Minimum Wage

869 Words 4 Pages
Imagine waking up every day in a one bedroom apartment, and walking to work as having a car requires more money. The job requires working different work schedule, frying burgers and waiting on customers, through working so hard yet will get minimum wage as pay. This king of minimum wage job never help us able to take a trip or buying a house since the pay is so low that all of it is spent to maintain a daily living. Going to college is important as it will be more financially successful and it is a return to education, moreover, this will give an intellectual benefit, and it will help to look at things from a different point of view.
To begin with, going to college is important because you will be more financially successful in life. Researchers have attempted to get around this problem of causality by employing a few clever techniques, including, for example, comparing identical twins with different levels of education. The best studies suggest that the return to an additional year of school is around 10 percent. If we apply this 10 percent rate to the median earnings of about $30,000 for a 25 to 34-year-old high school graduate working full time in 2010, this implies that a year of college increases earnings by $3,000 and four years of college increases them by $12,000. Notice that, this amount is less than the raw differences in earnings between high school graduates and bachelor 's degree holders of about $15,000 but it is in the same ballpark [Rephrase this part for…

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