Will Minimum Wage Help The Poor Analysis

Jason Furman and Parrot Sharon explain why raising minimum wage will help families. The wage has to be elevated to just the point where a family can actually afford all the necessities they need in order to survive. The cost of living in houses for poor people makes it difficult for them to afford it and is difficult to stay on task with all the bills. Many minimum wage workers have families to support. The cost of raising children is very expensive. It is an average of $7,100 per year. Minimum wage workers can barely afford to pay child care for one child, let alone two. Increasing minimum wage will also make life easier to those who have food stamps and child care needs. Which can also help them get into college a lot faster so they can go out and pursue a better paying job.

The minimum wage debate has been a hot topic over the past year, especially with the Presidential Election. This is a divisive topic that people rarely agree upon. There are essentially two sides you can take when it comes to this argument. Either people are for minimum wage or are against raising, or even having, a minimum wage. Proponents of the minimum wage are typically politicians who are lobbying for the vote of the people who feel that a minimum wage is critical to their wellbeing, and those who sympathize with people who earn “minimum wage”. Minimum wage is destroying America’s free market economy and someone needs to take action and find a better solution to this problem. Without anyone acting on this problem now, it can potentially be worse in the long run. Raising the minimum wage in the United States will do more harm than good to society because of the long-term effects.

Ira Knight, who is an author of article “Let’s Make the Minimum Wage a Living Wage”, expresses an opinion that increasing the minimum wage would help all struggling workers and at the same time improve U.S economy. On the other side, Janice Steele in her article “Keep the Minimum Wage Where It Is” argues that raising the minimum wage would have bad effects on workers, consumers and small businesses. Ira Knight’s article seems to be the stronger of the two positions because her arguments are based on several recent studies, and last but not least, she had a personal experience with the minimum wage job.

Beside the increase in cost to businesses and customers, other people can potentially be hurt by this policy. By increasing the wage, small businesses will suffer a higher cost that can lead to cutting jobs, stalling new hire or even shutting down. On the other hand, the economic plight of these minimum wage workers should also be considered. Therefore, the $15 plan would produce unpredictable consequences, while not doing anything would doom minimum wage workers to live in in poverty and to consume public resources.

Labor is an important service that must be available and balanced in an ever growing population. For example, there cannot be a larger number of residents than there is labor or else there will be a definite increase in poverty. In the United States, there is a set law of minimum wage, which has an effect on companies and how they manage their labor force. The increase of the minimum wages affects the overall distribution of hours available, therefore, hurting the amount of labor needed. Conversely, minimum wage also has a major effect on those who recetly entered the workforce. If the minimum wage rises, there will be an increase of the unemployment rate. Correspondley, as the unemployed suffer, the first to be affected will be incoming laborers who are looking for jobs and work experience which is essential for their future. However, the upside of increasing minimum wage is that for those employed who keep their jobs they will earn more income which may increase the

The federal minimum wage should be raised for the low-income workers, because it may reduce the gap between the rich and poor in our nation, it can help bring people up from below poverty lines, and will improve the economy. The federal minimum wage has been widely talked about, and continues to be a growing issue in the United States today. Many low-income workers have come together because they want equal pay.

A minimum-wage increase would put billions of dollars into the U.S. economy, benefiting businesses. It may not result in a surplus, but it will benefit the economy. Workers who are affected in any way by the minimum-wage being raised even to just twelve dollars an hour would see nearly eighty billion dollars in increased earnings over the next five years. Because low-wage workers tend to spend increased earnings locally on basic necessities, this will benefit businesses that rely on consumer spending. It still won’t come close to the equilibrium price, but it will help. The minimum wage last year was twenty-four percent below the level it was just about fifty years ago despite the fact that American productivity has more than doubled over that period and low-wage workers now have much more experience and education than they did back then. Now it’s the time to address this weakness in the minimum wage by raising it and lifting the earnings of low-wage

In the article,”The Negative Effects of Minimum Wage Laws,” embodies the following,”If the government requires that certain workers be paid higher wages, then businesses make adjustments to pay for the added costs, such as reducing hiring, cutting employee work hours, reducing benefits, and charging higher prices.”(Wilson). The raise will only benefit some workers. The working schedules will be changing and hiring rate may decrease depending on the business the low-income workers are at. At this point, the businesses will only obtain skilled, low-income

Minimum wage is the minimum hourly wage an employer can pay an employee for work. Minimum wage helps people pay for things they use or need every day like food, clothes, and their homes. In some cases and for certain people the the federal minimum wage is not high enough for them to live on. In this paper I will argue that minimum wage should be increased to benefit people in a variety of ways, both socially and economically. Increasing minimum wage will also help cut down on government spending and pull people out of poverty.

This article was very easy to understand, and was formatted nicely. The article brings up relevant comparisons to American life today, as well as current politics. The author of the article tries to bring humor into the article,by showing how out of touch the opponent's view is with the topic. There is a clear Liberal bias in this article, however it is expected when reading about minimum wage increases.

The United States Congress every year discusses whether workers should see an increase in the federal minimum wage (“Minimum Wage in the United States”). The public businesses and private citizens still cannot come to an agreement for a secure minimum wage. I believe, as many progressive voters accept, that increasing the minimum wage, which is now $7.25, an hour, by several dollars, will not make a significant impact on our economy. It may even give the economy growth by allowing lower-income workers to spend more on necessities. However, businesses will continue to believe that this increase would put more people out of work. This contentious issue may be the only discussion that will never die out in the United State’s history.

Raising the minimum wage increases the productivity and customer service in a business (Time, 2017). For example, a business named “&pizza” pays their employees a starting wage that is higher than minimum wage (Time, 2017). Michael Lastoria, the CEO of the business states that “It’s a simple, but critical, concept: take care of your people and they will take care of your customers.” I agree with this statement. When a business or anyone for that matters show that they appreciate your work, it only makes one want to work harder and provide the best kind of service. Everyone benefits in this situation. There are many other businesses as well that have acted to increase the work wage above the required minimum. While it may be fair or ideal to get a minimum wage increase which would also increase productivity and customer service, others would argue that it would do more damage than

Many economists argue that this pay is too low and should be increased in order to raise the standard of living in the United States. The main argument for the increase in the federal minimum wage is that the current wage provides significantly less purchasing power than it did in the past. According to CNN News Reporter Tom Perez, the cost of food, utilities, transportation, and other essentials have gone up, however low-wage workers’ paychecks have remained the same. Perez states that the purchasing power of the minimum wage has been eroding steadily since its peak in the late 1960’s, and the wage today would have to equal over $10 per hour just to equal the purchasing power first established in 1968 (“Raise Minimum Wage”). According to the United States Department of Labor, raising the country’s pay to at least $10.10 would be an important part of strengthening our economy because then the purchasing power would be at the ideal level. This raise for minimum wage earners would put more money in people’s pockets, which will in turn be spent on goods and services, and thus further stimulate economic growth locally and nationally (“Minimum Wage Mythbusters”). In order for businesses to grow they need customers that have money in their pockets because increased incomes will boost consumer demand and the consumer spending that powers our domestic economy. Many experts agree that raising the minimum wage is a key strategy for

“Most poor people earn more than minimum wage when they are working; their problem is not low wages. The problem comes when they are not working” (S. Joseph). Today’s level of pay for the minimum wage is not the problem, and raising it is not the solution. Furthermore, the only thing raising the minimum wage would do is to increase inflation. Inflation will raise all of the prices around us. Prices of gas, milk, and other necessities will increase to a level of which the minimum wage cannot withstand; again, we will be forced to raise it. With that being said, the only two probable solutions are to raise the work hours of the employees, or lower the cost of living; however, this will only be a temporary solution, workers must strive for

Workers from around the world no matter the culture, country, or type of job believe that increasing the minimum wage would solve individual financial problems. It is important to know that this subject is not a black-and-white problem and can not be answered by a simple yes or a no answer. This article will be focusing on the minimum wage in America. Furthermore, we are focusing on the State 's minimum wage rather the Federal minimum wage. It is important to understand that the state 's minimum wage is different than the Federal. In some states it may be higher or lower than the Federal, and other states in comparison. Although increasing a state 's minimum wage would have a positive effect on individual workers, it may have a negative and long-lasting effect on the state’s cities and its economy.