Minimum Wage Benefits

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When thinking of minimum wage the first thing you think of are teenagers working for spending money. In reality it is people over the age of 25 and about two-thirds of these people working for minimum wage is women. About a third of these employees earning minimum wage are parents, single parents, and people just trying to survive, according to the government. So for a minimum wage job a person making $7.25 and works 40 hours a week their annual yearly income would come out to be $15,080.00. Most of these people do not get health insurance offered to them or they cannot afford to have the health insurance policy. In America about one fifth of all full time employees live in poverty. The free market sets the wages at a level…show more content…
The first outcome could be firms substitute capital equipment from their overpaid employees thus having the unintended consequences of having a breakout…show more content…
Now for the people who see the glass half full and see minimum wage as something that should happen. They see that increasing minimum wage is a positive thing. Looking at the Internal Revenue Service it shows that 41% of United States payrolls are made up of the “working poor,” People who only work for minimum wage. Some of them people work for even less then minimum wage just to pay their bills. Paying rent, child care, and food and other bills that people have are expenses that people have to provide to have a normal life. However, most of these items are exchanged at “market” rates that gives people in the world nearly half of them people are unable to afford all of these things. By rising the minimum wage can help with all of these things that a normal everyday person has to deal with. You can be rich or poor you still have these bills, there is only one difference and that is the rich has no issue paying for these

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