Nearly 1000 business owners and executives signed a fair minimum wage statement, supporting the last increase in the minimum wage. They believe that higher wages benefit businesses in numerous ways, these businesses stated, “higher wages benefit business by increasing consumer purchasing power, reducing costly employee turnover, raising productivity, and improving product quality, customer satisfaction and company reputation” (Businessforafairminimumwage.org). This means that raising the minimum wage only helps employers in the end because it…
The standard of living in America has increased over the years, making it harder for minimum wage families to afford their needs. Popular presidential candidate, Bernie Sanders appeals to the population of minimum wage workers by bringing up the idea of increasing minimum wage. Such uproars have caused heated debates throughout the nation. Certain large cities with a higher living expenses such as Los Angeles and San Francisco have already begun to take action, making minimum wage $15 per hour. Coincidentally, unemployment rates have increased in the minimum wage workplaces, leading many citizens to point their fingers at the increasing minimum wage.…
Furthermore, the minimum wage worker only makes $15,080 before taxes, working a year round, full shift (Wing, 1). The difference between these two figures is truly monumental, and shows the harsh rewards for long hours of work. It is clear that employees with families must receive more compensation in order to supply their family with daily necessities. However, an independent can live off minimum wage with strict budgeting (Halligan, 1). Because it has been attempted and proven to be efficient, we know that certain members of the population may fill the spots within smaller companies giving lesser pay, and therefore provide individuals jobs while still benefitting the…
The American population has experienced hard times due to the increase in the cost of living with stagnation on the wages. The increase in the minimum wage to $15 will increase the income of about 55.1 million people while increasing the aggregate income of the lowly paid workers by $104 million by the year 2020. The increase in the net income of the low-wage workforce in return will bring a related increase in their standards of living (A. Fowler and E. Smith 10). The income of those people who earn slightly higher than the current minimum wage is also anticipated to increase with the implementation of the policy. Increased income also implies that the people will increase their spending on local goods resulting into an increase in sales for the concerned businesses or industries.…
”In a free labor market, wage rates reflect the willingness of workers to work (supply) and the willingness of employers to hire them (demand)” (Henderson 1). Increasing the minimum tends to be the “go to” reaction from the state and federal politicians primarily from the Democratic Party once their followers start complaining about not being able to live or raise their family on a minimum wage job. “Higher minimum wages… are especially destructive for people with poor work skills and limited work experience. This is why young people and minorities tend to suffer most” (Gillikin 1). When protests are seen on the news, they almost always occur in the bigger cities.…
When it comes to life, every decision will have pros and cons, but when it comes to minimum wage America has to choose the decision with the better cons that will override the cons (Harkin). Raising the minimum wage is the biggest argument in the government to this point. Raising the minimum wage would allow those that are in debt to get out of debt. People will never agree on minimum wage because most people are making way above the minimum wage and others are not. Most Americans think that raising minimum wage will reduce poverty, but yet do they know that raising the minimum wage will not do anything to poverty (Sherk).…
He believes in the same opportunity for every Americans and convince congress to pass this bill if they think $15,000 a year full time job would support a family. Raising minimum wage would help the economy grow and deserve how much they are supposed to be paid. Although most Republicans would see this view differently, Obama is pushing for this bill to pass and he strives for it to become a law. The Blacks do support their view of minimum wage increase than any other race with 91% and oppose at 8% while the Hispanics supports at 74% and oppose 26% and white support 68% and oppose 29%. These percentage show that more blacks fall under the poverty line and they would like to have an increase in minimum wage.…
A minimum wage exists in more than one hundred countries, both industrialized and developing. Congress first enacted a 25 cents an hour federal minimum wage in America 75 years ago. Over the years, it increased nine times, reaching the current $7.25 an hour. When the minimum wage was created, President Roosevelt declared its purpose was to “maintain a minimum standard of living necessary for health, efficiency, and general well-being.” With every increase the same objections and fears are brought up about inflammation, the loss of jobs, and essentially economic suicide. However, the minimum wage has been raised nine times now to keep up with the cost of living and America is still standing.…
Recently there has been a pervasive discussion about wage inequality, particularly raising the minimum wage. Many argue that fifteen dollars per hour or even the Presidents ten dollar ten cent minimum wage is too high with reasons such as small businesses will lose profit and close, people will have no incentive for higher education, and the overall elimination of jobs. Past arguments like these against minimum wage have been recycled since the passing of the Fair Labor Standards Act of 1938. Examining historical data on minimum wage increases will illustrate if these criticisms have been accurate. As a matter of fact historical data would be the ideal information to study when trying to prove the accuracy of each criticism, because since the enaction of this law back in 1938 much data has been accumulated.…
If the federal government raises the lowest paid minimum wage employee to $15 per hour. How much should the shift manager make, $18 per hour? Then should the assistant manager be at $25 per hour? How about the general manager, should they be paid $35 per hour? This situation might sound like a great idea because everyone in the company is making more money, all because the federal government increased the minimum wage.…