Yet sensible as the strategy is, it will take hard work at all levels of government to carry off this ambitious multi-pronged proposal” (Biggest Bang for the Buck: Researchers Weigh Stimulus Proposals). However, I believe the "stimulus" plan will not guide us out of the recession, but instead will generate more problems for the US economy. The only way to pay for the “stimulus” plan is to increase taxes or print more money, which will result in
* Dear Congressman Rigell, * Sir, there are several reasons why the Republican party says the minimum wage shouldn't be raised. One of them is it will kill small business, another is the minimum would only affect teenagers like me. Well, I don't agree. I have learned that raising the minimum wage makes good economic sense. And affects a much larger more deserving group of people.
Tieaisja Nicole Powell Unit 9 Final Project Minimum wage essay College Composition 2 Minimum wage is considered low income. It affects the lives of people making minimum wage and also small business owners. It affects the employees because the cost of living continues to rise and minimum wage doesn’t. Small business are affected because raising minimum wage would mean they would have to hire less employees and raise the prices on the company’s products. Minimum wage is unacceptable because the cost of living will continue to increase.
Obama urged Congress to raise the minimum wage from the current $ 7.25 per hour to $ 9 per hour. The advantages of this point are to reduce poverty and improve the phenomenon of low wages. However, the minimum wages increased by 24% will lead to the increase in labor supply, reduced demand and cause large unemployment. Thus, it might occur that a phenomenon of low-wage improvement, but the unemployment rate is correspondingly increased. What make matters worse is that unemployment is the most vulnerable to afford unemployment hit.
It increases demand and productivity, helps drive innovation and lowers prices, although there is little agreement on the size of the impact on economic growth. "A more efficient, more transparent and more flexible immigration system would help firms expand, contribute to more job creation in the United States, and slow the movement of operations abroad," according to a draft report, soon to be published as part of a study by the Hamilton Project, a think tank. (Edward Krudy, 2013) It’s unclear what the cost of implementation will be, the cost of immigration reform will really depend on legislative debate that Congress has begun to wade into. There will be a lot of pressure on Congress to produce a bill that’s either revenue-neutral or will actually reduce the deficit, both by restricting any federal spending on immigrants and limiting the upfront appropriations on implementation. (Khimm,
Increasing Minimum Wage The debate of whether or not to increase the minimum wage has much controversy surrounding it, but the facts support an increase. The facts show that the cost of living and inflation quickly erode the value of minimum wage without regular increases in the minimum wage. The people that would be slightly hurt by an increase when compared to the massive amount of people that an increase in the minimum wage would help is minute. Poverty in the United States is a problem that people constantly face, but with a higher minimum wage, poverty would be lessened. The many arguments for an increase in minimum wage clearly show that an increase is desperately needed in the near future.
One disadvantage to increasing the minimum wage is the possibility of a continued shortage of jobs. As the minimum wage increases, more people would want to find a job more than ever. This could cause a shortage in jobs because their still wouldn’t be enough work but the demand will be higher. The graph below shows the minimum wages from 1938 to 2007, in comparison to the poverty levels. Even though this problem wouldn’t change by the increase in minimum wage, I believe that this disadvantage isn’t that important at the current moment because it takes a while to rebuild an economy.
Zoe Rathgeber ECON 102 Position Paper April 17, 2012 There are many working Americans who earn the minimum wage. Countries throughout the world uphold minimum wage laws, which shows that the minimum wage is important to policy makers. Finding the connection between minimum wage and job loss is one of the most pressing matters for economists. Raising the minimum wage would be detrimental to the economy and has become one of the most significant problems economists and blue-collar Americans have faced during the recession today. A higher minimum wage is detrimental to local economies as well as many workers through increased unemployment, lack of skills and an inability to further careers.
With the inflation of prices, one would think that the minimum wage would rise as prices did, but it has not. When comparing the minimum wage of 1980 and today, the minimum wage of 1980 is higher. Raising the minimum wage has been a controversy for many of years; but it was not until recently that people started to demand a raise in the current minimum wage. Not only will an increase in the current minimum wage help current tax payers, but it will also help struggling families living pay check to pay check and the economy. Minimum wage came about when President Roosevelt wanted to make wages fair for the working Americans; so in
If not for migrants in America we would be paying higher prices and working harder jobs. They have helped our country prosper into what we call home now, without the culture and skills we have acquired from all parts of the world, life would be very different here. In a way we depend on migrants without even noticing it. We take for granted the jobs they do for us and the help they give our country. Without them there would be more cases of unemployment.