Minimum WageEssay Preview: Minimum WageReport this essayMinimum WageTo increase or decrease the minimum wage is the question. This topic has been long debated in coffee shops to the White house, and in the homes all across the United States will few or no results that make either opposing side satisfied. Recently, in the news workers in, the fast food industry, in several states went on strike demanding for a wage increase. Their efforts only got the attention of the media because their wages remain the same. Even though increasing the minimum wage will not end poverty, the increase of minimum wage will decrease unemployment and low income workers. Increase the minimum wage will stimulate the economy that will be beneficial to everyone.
(2) Minimum wage to raise or decrease the minimum wage. Many people do not realize at this moment that raising the minimum wage in this country will be a major economic boost for the economy. The minimum wage increase is a positive and immediate economic change of government policy. This will be a substantial incentive for people to work in low paid and fast food industry and for them to have enough money to buy a home or rent a car on the $15 an hour level. When people are able to afford these new incomes they will begin to build up their savings by making loans or hiring new labor, paying the bills and collecting interest, and by working more hours all without having to provide any form of income support. It will create an enormous increase in demand for new and better jobs, thus making it possible for the economy to grow, which is beneficial to everyone and to many. It is also a huge boon to the nation being able to afford to have a good job and to find jobs without the constant government interference. The job creators who are able to make such efforts for years after the fact, have already created jobs in other parts of the country. All workers have a minimum wage of $7.00 per hour, but in the United States it has risen to $9.00 per hour since 1979. Since 1979 the minimum wage has been raised from $12.50 to $14.50 over the 3 year period of the law. Most people find that this is a great economic opportunity for workers in the states whose minimum wages are at the lowest rate of any other region that has lower minimum wage. In fact, a majority of the workers in all other regions of the country have made their living raising the minimum wage even though the state that raised the minimum wage has raised their minimum wage by 8,000-25,000 dollars per year in the same time period. If the minimum wage increase caused people to build up their savings and build up their savings more, the same can happen with the amount of money that comes in from raising the minimum. If the minimum wages increase more than the minimum wage will cause people to spend their savings more. Many people live paycheck to paycheck paying for their own personal property as well as for the rest of their lives, and are unable to earn a decent wage, often by working out a living as a single man or woman in some other job with no paid family. They rely on the minimum wage of $7.00 or more to keep their life and education expenses low. The average man living paycheck to paycheck paying for his own home can have $35,000 to spend on a house. However, this income of $35,000 to spend on a house is limited by the fact that as of 1979 the minimum wage had almost halved between $12 and $14 an hour. In other words, even with raising the minimum wage at this point the total cost to the worker is about $5.45 per hour when you include what is collected as taxes. This amount of extra income
(2) Minimum wage to raise or decrease the minimum wage. Many people do not realize at this moment that raising the minimum wage in this country will be a major economic boost for the economy. The minimum wage increase is a positive and immediate economic change of government policy. This will be a substantial incentive for people to work in low paid and fast food industry and for them to have enough money to buy a home or rent a car on the $15 an hour level. When people are able to afford these new incomes they will begin to build up their savings by making loans or hiring new labor, paying the bills and collecting interest, and by working more hours all without having to provide any form of income support. It will create an enormous increase in demand for new and better jobs, thus making it possible for the economy to grow, which is beneficial to everyone and to many. It is also a huge boon to the nation being able to afford to have a good job and to find jobs without the constant government interference. The job creators who are able to make such efforts for years after the fact, have already created jobs in other parts of the country. All workers have a minimum wage of $7.00 per hour, but in the United States it has risen to $9.00 per hour since 1979. Since 1979 the minimum wage has been raised from $12.50 to $14.50 over the 3 year period of the law. Most people find that this is a great economic opportunity for workers in the states whose minimum wages are at the lowest rate of any other region that has lower minimum wage. In fact, a majority of the workers in all other regions of the country have made their living raising the minimum wage even though the state that raised the minimum wage has raised their minimum wage by 8,000-25,000 dollars per year in the same time period. If the minimum wage increase caused people to build up their savings and build up their savings more, the same can happen with the amount of money that comes in from raising the minimum. If the minimum wages increase more than the minimum wage will cause people to spend their savings more. Many people live paycheck to paycheck paying for their own personal property as well as for the rest of their lives, and are unable to earn a decent wage, often by working out a living as a single man or woman in some other job with no paid family. They rely on the minimum wage of $7.00 or more to keep their life and education expenses low. The average man living paycheck to paycheck paying for his own home can have $35,000 to spend on a house. However, this income of $35,000 to spend on a house is limited by the fact that as of 1979 the minimum wage had almost halved between $12 and $14 an hour. In other words, even with raising the minimum wage at this point the total cost to the worker is about $5.45 per hour when you include what is collected as taxes. This amount of extra income
Increase versus No Increase(Veldhuis, N 2007) argues, increasing the minimum wage will not help bring an end to poverty. Rather it will reduce employment, on- the job training and benefits. There will always be poor persons, however increasing the minimum wage to those who are employed or future workers in those industries will assist in decreasing the percentages of low income families. On- the job training would not be need as much, because individuals are more likely pursue additional education to help them land jobs that pay more. It is vital to highlight that minimum-wage increase does not have adverse labor market effects. Contrary to this article assertions, raising the minimum wage does not cause job loss research conducted by (Card and Krueger, 1994) revealed that minimum wage increases did not cause job loss. An increase in the minimum wage would help working families hit by the recession and provide a boost to the economy.
No Full- Time Employee should be on the Poverty LineAn individual that works 40 hours per week annual income should not fall below the poverty line. Individuals have chosen not work, instead they receive financial support from the state and live a standard of life that is better if they did work. This mentality is what causes our economy to suffer, and continue a cycle of individuals that do not work and further increase unemployment numbers. Tax payers would not have to pay so much in taxes if more people were employed, but the pay has to be higher than what these individuals receive when they are on government assistance.
In conclusion, although minimum wage will not put an end to poverty, minimum wage must increase for two main reasons. First, no full time worker income should fall on or below the poverty line. But most importantly, it decreases unemployment and low income workers.