Why Raising The Minimum Wage Is Good Economics?
1092 Words
4 Pages
Adam and Chris are two men who live in Washington State. Adam is a certified surgeon and works at Providence hospital earning 6 figures a year. Chris however, works at a McDonald’s joint making $9.47 an hour. Adam and Chris both attended the same bar, but unfortunately Chris had to quite going to the bar so he could get more hours at work. Chris needed to make more money to feed his family, but even with him working more hours he still wasn’t able to make enough money to pay medical bills for his sick spouse. Chris had an evening off work one day and decided to go to the bar. Adam happened to be there as well so he came over to Chris and asked him why he hadn’t been attending the bar as often as he usually had. Chris then told Adam about his
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Komlos says that the minimum wage in America is lower than other advanced countries like Germany and Switzerland. In addition, he states that the U.S. minimum wage since 1968 has dropped and the unemployment rate has increased. Komlos says that many people in America are without jobs, and the ones with minimum wage jobs find it hard to support their families with their net incomes. The author mentions that many people against the increase of minimum wage, such as multi-billionaire Donald Trump, believe that an increase in wages would create many problems like decreasing employer’s profits, and jeopardizing the work availability for young Americans. However, Komlos says that these problems will not go into effect because of increase in wages. He adds that the unemployment rate for youth workers in Germany and Switzerland are lower than the U.S. even though the minimum wage in both countries is higher than that of the United States. Also by increasing their prices, employers could still make about the same profit regardless of an increase in employee wages (Komlos 1). Although minimum wage increase may seem to concern only a small group of United States citizens, it should concern anyone who cares about the U.S. poverty level and its
Komlos says that the minimum wage in America is lower than other advanced countries like Germany and Switzerland. In addition, he states that the U.S. minimum wage since 1968 has dropped and the unemployment rate has increased. Komlos says that many people in America are without jobs, and the ones with minimum wage jobs find it hard to support their families with their net incomes. The author mentions that many people against the increase of minimum wage, such as multi-billionaire Donald Trump, believe that an increase in wages would create many problems like decreasing employer’s profits, and jeopardizing the work availability for young Americans. However, Komlos says that these problems will not go into effect because of increase in wages. He adds that the unemployment rate for youth workers in Germany and Switzerland are lower than the U.S. even though the minimum wage in both countries is higher than that of the United States. Also by increasing their prices, employers could still make about the same profit regardless of an increase in employee wages (Komlos 1). Although minimum wage increase may seem to concern only a small group of United States citizens, it should concern anyone who cares about the U.S. poverty level and its