Should We Increase Minimum Wage - 1508 Words

The topic on whether the minimum wage should be increased our untouched has been a hot topic in the media and political scene lately. Both the republicans and democrats have spent some big bucks lobbying their insights on the matter. There has been a lot of subjective and objective arguments that are reasonable on both the pros and cons of increasing our national minimum wage. To add to the drama associated with this topic, President Obama endorsed a bill proposing a nearly 40% rise from $7.25 to $10.10 per hour. The President has been campaigning around the country ever since his State of the Union address, pushing congress to raise the minimum wage to $10.10 an hour. Many say this is too high due to the costs of enacting such an increase, and many say this is a little low due to the increased cost of living. After looking into both sides of this debate, I realize that overall it would be better for the well-being of our nation to increase the minimum wage due to the short term and long term costs that an increase of the minimum wage could lead to. In terms of helping out the lower class and poor citizens of the United States, increasing the minimum wage level is not the answer. Many argue that raising the minimum wage makes hiring workers more expensive, eliminates jobs at the bottom, slows growth and ultimately raises unemployment. Economic studies show that raising the minimum wage to keep pace with inflation creates little additional harm, but what the president isShow MoreRelatedEssay We Should NOT Increase the Minimum Wage1754 Words   |  8 Pagesthemselves. How do we make a living? Through working,but is that work enjoyable for us? Many of us have thought about what our purpose is in working. Should it be mainly focused on providing the basic necessities for our families? Or should we trade off enjoying our job to bet better able to support our family? We all want to provide our families a decent standard of living. What is our second goal? Our second goal is likely the desire, and ability to enjoy our job. The reason we should care about thisRead Moreminimum wage1601 Words   |  7 Pagesgood news for the low-income workers and their families w henever the government increases the minimum wage. The United States Congress adopted the Fair Labor Standards Act in 1938. Congress created the minimum wage toward the end of the Depression era to ensure a minimum standard oPremium 2048 Words 9 Pages Macroeconomics: Should the Minimum Wage Increase? Should the Minimum Wage Increase? Minimum wage is the lowest wage permitted by law or by a special agreement that can be applied for an employeeRead MoreThe Effects of Raising the Minimum Wage on US Economy1507 Words   |  6 Pagesfamily. Due to the fact that the prices of goods increase year and after year, the minimum wage has been increasing from less than a dollar to $7.25 now. The question that comes to everybody is that should we increase the minimum wage by too far. Does the minimum wage increase reduce the unemployment since now the current wage is high enough? Some people might think that we should increase the minimum wage in order to increase the labor supply. However, if we think deeply than this, there are more disadvantagesRead MoreShould We Be Living Their Life? Essay1507 Words   |  7 PagesLife as we know it is changing and maybe not for the best. People are making life-changing decisions without a second thought every second of every day. Is this the way anyone should be living their life? (TRANSITION?) Many who have or currently work in restaurants and other places of business within the food industry are demanding higher compensations without knowing the negative repercussions that could arise and take effect. It was recently discovered that, in 2014, around 71% of Americans favoredRead MoreShould The Minimum Wage Be Raised? Essay1218 Words   |  5 PagesShould the minimum wage increased to $10.10 an hour? This has increased over the years and everyone has their opinions. Those who are in favor of increasing minimum wage to $10.10 believe that more money will decrease poverty and the unemployment rate. Those who oppose the increase in the minimum wage, believe that it should not be increased and should stay the same, because it will cause businesses to close up because they are not making enough money to survive in the economy An increase in minimumRead MoreMinimum Wage Should Be Raised For A Better Standard Of Living1636 Words   |  7 PagesVamsi Sanagala Hannah Manshel Dec 15 2014 English 1 Minimum Wage Almost 3.3 out of 76 million workers in the US receive minimum wage (Source: BLS reports). Activists for raising the minimum wage claim that the federal minimum wage of $7.25 is the reason they are living in poverty, and that the wage must be raised for a better standard of living. Many people who take on minimum wage jobs are young and work in companies that don’t carry much prestige; however, they stillRead MoreMinimum Wage Should Be Legal940 Words   |  4 PagesMinimum wage is now at a steady $7.25 per hour and shows no sign of increasing anytime soon. There are states right now at the time that are trying to raise the minimum wage, and see how this will effect the economy of the area. As prices continue to increase in every day expenses, it becomes hard for us to keep up and be able to provide for our family or get even the basic necessities that we may need. People are saying that with more money, they will spend more back to the economy, thus helpingRead MorePersuasive Research on Minimum Wage1002 Words   |  5 Pagesvery different beliefs on how our country should be ran, and one of the most important and most frequently asked questions ties along with money. Our dollar allows us to buy the luxuries to make us happy and gives the lower class the chance to buy the necessities they need to keep them going. Money has been the center of attention for centuries, and one of the controversial topics that surround money is if the government should increase the minimum wage to help boost our frail economy and lower classRead MoreMinimum Wage Should Be Legal1435 Words   |  6 PagesMinimum wage is currently a very heavily debated topic. Many are in favor of raising the current national minimum wage of $7.25 to a more livable wage; suggestions for this increase are anywhere between $9-15 per hour. While the minimum wage has been raised several times throughout the years, it has not been kept proportional to raises in inflation which has led to a decrease in the amount of goods that people are able to buy with those wages, in turn making their economic lives more difficult. ThoseRead MoreThe Pursuit Of Happiness Essay1700 Words   |  7 Pageslobby rises as the excitement of the workers increases, today is payday. Or is it anxiety? Are their thoughts, masked behind idle chit chat, of how am I going to pay rent and feed my family? How am I going to make this pay last for two weeks? These fellow humans are the full time working poor. Increasing the Federal Minimum wage to from $7.50 an hour to $15 an hour would be shocking to the US economic system but a proposal of an immediate increase to $10.50 an hour and three years later to