Currently, twenty-nine out of the fifty states pay a higher minimum wage than the federal minimum wage requires. Some of those states are just barely over $7.25 an hour; contrarily, others have wages as high as $9 and $10 (“State Minimum Wage”). This means more than half of the country has already raised their minimum wage. $10.10 would help one in five Americans (Quinn). Even though certain states have higher wages, they do not match $10.10. $10.10 is even below what the wage would be if it had kept up with inflation…
As previously stated, the push to raise the minimum wage in America is not without opposition. Most notably, economists argue that if the minimum wage were to be raised across every state in the country, employers would have to increase prices of goods and services to compensate for the higher cost of employment. However, if the elasticity of demand does not allow, employers would have to bear part of the costs. Consequently, they have to lay off some workers to avoid the increase in production costs. Similarly, there is an inverse relationship between labor demand and the price of labor (wages). Therefore, raising the minimum wage results in a reduction in labor demand hence…
The continuing demand of more money for less work has forced the United States to raise the minimum wage innumerable times in the last century, Which results in higher prices for the rest of us. Another raise in the minimum wage would, as all the others before it, raise prices for consumers, which would again result in another demand for a raise in the minimum wage. it’s a viscous cycle that must be stopped before it loses control. Not only does a raise in minimum wage result in a raise in the cost of living, it also causes the dismissal of hardworking people who are happy with their current income. When the firing axe starts to fall, seniority often determines who goes and who stays. The more a single employee costs a business an hour, the fewer employees the business can afford to employee an hour.…
That Gov. Jerry Brown agreed, stating that raising “the minimum wage too much” would put a lot of poor people out of work.” After the minimum wages rise up that There won’t be a lot of jobs available.That having the minimum wage at 15 dollar that there would be less jobs for people and the prices in a business will rise as the minimum wage rises. A “key factor” in this discrepancy was if that the 15 dollar minimum wage is confirmed the businesses will go down and there will be new businesses that will be opening. Jerry Brown stated that $15 would create “major increased costs, estimated at more than $4 billion annually,” sending “the state budget to annual deficits” and exacerbating a projected “recession by raising businesses’ costs, resulting…
The problem with minimum wage is that it is not kept up with yearly. As inflation across our country increases yearly, minimum wage stays the same. With unemployment at about 8%, many people are pushing for a higher minimum wage. In "How raising the federal minimum wage would help working families and give the economy a boost" by Doug Hall and David Cooper, they believe that an increase of minimum wage will boost the economy. "Throughout the nation, minimum-wage increases would create jobs." (Hall & Cooper) Creating jobs would help the economy by helping the unemployed get off of government assistance, but raising the minimum wage will not help create those jobs.…
Well clearly some states should differ from others because the cost of living is much higher in states like New York versus a state like Virginia. A dramatic increase to 15.00 minimum wage is risky, and could prevent more problems, so the trick is finding the right balance to boost the economy and not create more job loss for Americans. A proposal to raise the minimum wage in Los Angeles to as high as $15.25 per hour by 2019 would have more benefits than drawbacks and increase the wages of about 600,000 workers (NBCLA). In particular, small business will have to cope with these new wage minimum increases. It was voted by the voters but it wasn't presented in such a way that anyone was paying any attention to small businesses (Aimee Picchi). "The research shows minimum wage laws have no net impact on overall employment figures or businesses closing…
Today, the real value of the minimum wage has fallen by nearly one-third since its peak in 1968. And right now, a full-time minimum wage worker makes $14,500 a year, which leaves too many families struggling to make ends meet.There are many states that have already approved minimum wage increase through ballot measures in 2014 election. Raising the minimum wage would raise the incomes of 28 million Americans. Therefore women would particularly benefit because they tend to work for lower wages than men. “88% of adults with more than a third over age forty work for minimum wage.” (Van Buren, 2014) Many breadwinners are working for minimum wage and it isn’t enough to support the household therefore raising minimum wage would help many struggling Americans whether full time or part time. Raising the minimum wage is an important anti-poverty tool, but the current minimum wage leaves too many families in…
According to EPI (Economic Policy Institute), at the wage of $7.25 per hour, working 40 hours per week, 52 weeks per year yields an annual income of only $15,080. This is below the federal poverty line for families of two or more. Minimum wage negatively impacts people who work low-income jobs and their families because it’s too low, creates a stagnant economic growth, and inconsistent.…
While increasing the federal minimum wage has good effects on the economy and workforce welfare, it is shown with its fair share of disadvantages. For example, it will lead into reduction in job opportunities, and this is further explained in the online article, "Background Of The Issue - Minimum Wage,” whereby it states that in the first 25% minimum wage that happened in 1938 there was losses of jobs. (Minimum Wage - Procon.Org). Moreover, in reality around 1.3 million jobs will be lost in the event that the minimum wage is increased up to…
A new issue that is being debated across the country is raising the minimum wage. Minimum wage is the lowest pay you can legally give to workers. The minimum wage is currently $7.25 an hour. There are some people that think the minimum wage should stay the same. Others think that is too low, and they want to raise it. However, research shows that the current minimum wage is high enough to live a normal life with essential needs. If minimum wage is raised then the effect will be huge. The economy will go down, teens and new workers won’t be able to find jobs, and it will only hurt the people it was meant for.…
“Raising the minimum wage… would ensure… that a family of four with a parent working full-time at the minimum wage does not have to raise its children in poverty.” (Furman and Parrot) Fear and worry are very strong and powerful emotions that are often caused by monetary issues. If minimum wage was raised part of that fear and worry would disappear and a mother or father would be able to rest easy knowing they could provide for their family. A surprising fact is that 2/3rd of people earning the minimum wage have been below the poverty line since 1959 (Sanghoee). If people have lived below the poverty line since 1959 then there must be something wrong with the standard minimum wage. Just as adults struggle living with minimum wage, college students do as…
There are many different ways to solve the problems involving minimum wage. For example, “The Rhode Island legislature enacted an increase, taking the state minimum wage to $9.60 effective Jan. 1, 2016”(“State Minimum Wages”). Some states are increasing their minimum wages for example, Rhode Island is increasing their minimum wage by approximately seven percent in 2016. “The increases D.C. and Maryland passed during the 2014 session take effect July 1, 2015. D.C.'s new wage of $10.50 an hour makes it the first jurisdiction to cross the $10 threshold among the states. Maryland's minimum wage rose to $8.25 on July 1” (“Minimum Wage”). This is another example of states that are increasing their minimum wages in order to keep employees happy. Making equal payments per work skills or amounts of work, developing a minimum wage for some countries, and increasing minimum wage are all things that can be done in order to solve this minimum wage…
As stated previously, the current value of the federal minimum wage decreases yearly as the values of the American dollar decreases and the minimum wage stays the same. Currently only about seventeen states have created indexing laws to retain the value of the minimum wage (Fox). Rather than occasionally raising the minimum wage, as has been done in the past, the federal government must amend the minimum wage legislature to account for indexing. As most of the people living at or around the federal poverty threshold work in low-skill and low-paying jobs, the current system qualifying for welfare programs through job training, and career counseling should only be optional. A guaranteed basic income of 10,000 dollars annually to every qualifying adult resident, would help to subsidize the cost of living for these low-wage earners. Those who qualify for the basic income would have to be legal residents and not currently incarcerated. The majority of existing social welfare program would still exist as a safety net for those in…
Critics of increasing minimum wage constantly state that increasing minimum wage would result in job loss. Studies conducted on the employment impact of increased minimum wage in San Francisco and Santé Fe show no significant job loss or reduction in hours. Furthermore increased labor cost can be absorbed through improved efficiency, low turnover, raising prices and Lower profits. Raising the minimum wage also reduces absenteeism, increases morale and reduces direct and indirect…
Although workers under age 25 represented only about one-fifth of hourly paid workers, they made up about half of those paid the federal minimum wage or less. In my poll, 100% of you said you would be more likely to apply for a job if you were paid $15 minimum wage. Just based on the data I’ve gathered amongst you, raising the minimum wage would cause more employment, more business. Lastly, it will improve the country’s health. A 2014 Human Impact Partners study by Rajiv Bhatia, MD, found that raising the California minimum wage to $13 an hour in 2017 "significantly…