| Is Raising Minimum Wage Going to Affect the Economy? | Principles of Microeconomics | | Jenell Craddock | 2/21/2013 | | Jenell Craddock Principles of Microeconomics Professor Kerr February 21, 2013 Is Raising Minimum Wage Going to Affect the Economy? President Obama wants to raise the minimum-wage from $7.25 an hour to $9.00 an hour. They say that minimum wage earners don’t get a lot of money but that’s because they’re usually young people in entry level positions. If Obama raises minimum wage it could put small businesses in an unacceptable bind that helps no one.
The second example given is that the money earned daily by laborers is often higher than the average national wage. The final and third example is that there is no systematic alternative to sweatshops they cannot be replaced, only attempted to be reformed. Powell presents a well supported argument, he has done research and found information that can even sway a radical activist. Although Powells argument proves the advantages of being a sweatshop worker in a Third World country, the common facts about sweatshops from articles in the Humboldt State University newspaper by J. McClain counters Powells argument with evidence of sweatshops having harsh working conditions and without recognition for worker safety and rights. McClain one of the many Humboldt State University students who are active participants of human rights assemblies and have shown deep interest in supporting the fight against Sweatshops.
One of the main things that employers will have to do in order to make money will be to reduce hours, limit job creation, and increase prices. Many believe the minimum wage jobs are not meant to be a career, they are transitional jobs. Therefore minimum wage employees should receive transitional pay. A vast majority of the employees who attain minimum wage jobs have families that are on welfare, so they may receive Link, W.I.C., and Section 8 living therefore their needs are taken care of if they live within their means. Major corporations like McDonald’s and Walmart will barely be affected by the increase but the small businesses will be a thing of the past and slowly but surely fade away.
Minimum wage is the "lowest hourly wage firms may legally pay their workers.” To simplify, minimum wage is the base wage created to guarantee the ability of the worker to supply his/her needs (or family's), and to prevent the firms, by chances, exploiting their employees. In 1938, minimum wage first appeared with $0.25 per hour, and through out the time, it has been adjusted to $5.15
The most profound argument in favor of raising the minimum wage circles around the economic stimulus. Raising the minimum wage would not only help thousands of workers out of government assistance programs, but would also boost spending in the local economy on services and goods. While the strongest argument against raising the minimum wage is the uncertainty of the current job market and how it will affect entry-level and new job positions not opening in the economy. When we start looking at how a change like this would help the vast majority of today’s workers, versus the uncertainty of what may or may not help the few, this poses for a weak argument. Assist with the greater good.
Immigration reform is needed, but there is not a one size fits all solution. It is expensive to go through the process of obtaining the necessary documents to legally work in the United States. The application fee for employment authorization is $380 ("U.S. Citizenship And Immigration Services", 2011); a price many coming to the U.S. for a better life are not able to afford. Policy needs to address the need the economy has for the undocumented workers in the U.S. and find a way to authorize their presence.
It is frustrating to see how much of a trade off the circle of life is having to sacrifice people’s income in order to get a greater result on a business. Finally, as a result of a so controversial topic I supported, support, and will support the minimum wage. The bad economy that we face today in the country is so depressing that it is not even guarantee if there will be more employment with or without minimum wage. Every day the unemployment increases, inflation increases, poverty increases, crime increases, etc. Moreover, with a minimum wage there is a big portion of the population of the country unemployed, now I think what it will be if there is not a set minimum wage.
Taven Parker Sociology 142 ID# 005350798 They stole our jobs! “‘Let’s make sure people are educated so they can fill the jobs of the 21st century’” (President Bush, “That Good Education Might Not Be Enough”, Gosselin, pg 1). To a young, naïve individual that doesn’t understand the ways of the world quite yet, this might sound like a promising statement. Let us forget about the fact that companies and corporations want to make more money, so they outsource their working positions to other countries so they can pay them less for the same job. Let us forget about billions of dollars that American companies save by paying foreign wages rather than our minimum wage.
Univ 1010 November 19 2014 Increasing Minimum Wage Jon Corzine said “No family can get rich off of minimum wage in fact the current minimum wage does not even lift a family out of poverty” Minimum wage should be increased because today in America its impossible to rise from poverty on a 7.25 an hour job. When minimum wage was first put into action it was done so with the purpose of helping people live a better life and improving overall welfare, but instead of improving welfare people ended up on welfare. How can minimum wage improve someone's life when they are only making $15,080 a year and the poverty line for a family of four is at $23,850 and for a single person it is $11,945, although it keeps one person out of poverty,
Should the minimum age be raised? One very important controversy most people all over the world are dealing with involves money. There never seems to be enough of it. Minimum wage in the United States is approaching an all-time low. Some believe that raising the minimum wage would hurt people by making it harder to find jobs, when it actually will create more job opportunities for Americans.