The Pros And Cons Of Raising Minimum Wage

Words: 505

Pages: 3

Open Document

There's a large controversy on whether minimum wage should be raised or if it should be abolished. Personally, I don't believe that minimum wage should be abolished but I also don't think it should be raised. If it is raised, the prices of goods will go up and it will decrease motivation to get an education for a “high pay” job. If minimum wage is abolished then businesses will pay employees whatever they want and our economy could crash. If we raise minimum wage, the prices of certain goods will go up. Let's say the federal minimum wage was raised to $15 an hour. It was found that prices, let's say at a fast food restaurant, would increase by 4.3%. An item that once cost you $3 is now $3.12. Now that may not seem like a big difference but once you start adding everything up you will realize that things will get more expensive. The reason prices are more likely to rise than stay the same is because the business has to make up the extra money that was going into their business but now is being given to employees. If the businesses don't compensate for the higher cost of employees then they may risk losing money in the long run. …show more content…
If someone had the option to go to college and get a degree or just work somewhere that required a GED, but received the same amount of pay, most people are going to choose to not go to college. What would be the point of spending thousands of dollars on an education to get a job that pays the same as McDonald's? This would put competition on higher education jobs and low education jobs making high education jobs limited in employees and low education jobs scarce on space for

Pros And Cons Of Raising Minimum Wage

Money Talks Does minimum wage make a significant impact on our poverty level or job opportunities? The debate over raising minimum wage has become one of the most discussed topics in today’s society. Political leaders speak of raising minimum wage a substantial amount in order to benefit the general public, while others argue that raising the hourly rate will only cause harm to our humanity. While some present optimistic views with facts and statistics, the opposing viewers present many negative…

Words 710 - Pages 3

Pros And Cons Of Raising The Minimum Wage

Raise the Minimum Wage “66% of US workers earning less than $10 an hour report that they "just meet" or "don't even have enough to meet" their basic living expenses”("Minimum Wage - ProCon.org."). Many people agree that not paying people enough money to survive on is a terrible tragedy that needs to be fixed, despite those who disagree with it. The fact that the minimum wage allows some to pay people not enough to live on is something that can be fixed, and those who doubt that the minimum wage is insufficient…

Words 893 - Pages 4

Pros And Cons Of Raising The Minimum Wage

Should Minimum Wage Be Raised or Not? The minimum wage articles discussed the benefits and disadvantages for people and businesses. According to “Let’s Make the Minimum Wage a Living Wage” by Ira Knight, raising the minimum wage would have benefits for people. He presents strong facts and arguments in his article. On the other hand, “Keep the Minimum Wage Where It Is” by Janice Steele, she argues that raising the minimum wage would affect the people negatively. Although both articles had good points…

Words 391 - Pages 2

The Pros And Cons Of Raising Minimum Wage

government should not increase the federal minimum wage from $7.25 an hour to $15 an hour as it disadvantages those with minimum-wage workers. Firstly, People who agree that the federal government should raise the federal minimum wage because living wage is expensive, the article “Should the Federal Minimum Wage be Increased?” demonstrates in a study from 2000-2009, after 3 months of raising the minimum wage researchers found that, “Raising the minimum wage causes a temporary spike in spending power…

Words 255 - Pages 2

The Pros And Cons Of Raising Minimum Wage

Minimum Wage Editorial Seems like minimum wage has became a huge controversial issue on whether it should be raised or reduced. This issue has has people fighting for what they believe will affect their lives in a positive way, but does raising minimum wage really affect us in a positive way? Minimum wage mainly affects those who work in fast food places, sales and retail, office and administrative support occupations, etc. I strongly agree to having the minimum wage stay at $10.00. Employers…

Words 273 - Pages 2

Raising Minimum Wage Research Paper

Writing 06 February 2024 The Pros and Cons of Raising the Minimum Wage. Many Americans struggle to make a household survive with their level of income. Should the government raise the minimum wage? This is a question that you may often hear in the workplace. In order to make a decision on what side you fall on, you have to weigh the pros and cons. These are the pros: improving the standard of living, and helping to close the gender pay gap; and the cons: raising the minimum wage would decrease employment…

Words 844 - Pages 4

Minimum Wage Argumentative Essay

Smith ECN201 10/29/2014 Baker College Reasoning for Federal Minimum Wage The reasoning for the United States having a Federal Minimum Wage Law is to protect the workers so that they earn enough to live on. “If a firm can’t pay its workers enough to live on, then it isn’t a viable business, because it is dependent on wage subsidies.” Coppola, F. (2014) Forbes. This sounds like a good reason for us to have minimum wage laws, but the real reason has little to do with workers being able…

Words 547 - Pages 3

Raising Minimum Wage Research Paper

The topic of raising the minimum wage involves both advantages and disadvantages. Some pros of raising the minimum wage are. Increasing the standard of living. Raising the wage could allow minimum wage workers to afford necessities such as food, housing, and healthcare. The cost of living has increased and continues to do so, so raising the minimum wage would help these workers (Maverick, 2024). Decreasing poverty. Raising the wage could allow a great number of families to move out of poverty because…

Words 362 - Pages 2

Should Employees Get Paid Too Much Essay

Over the years, minimum wage laws have benefited and hurt companies. Some companies pay their employees so much that they have less workers. Others pay less so that there are more workers. I believe that employees shouldn't get paid as much because the company will always be looking for people to hire after the previous employee(s) have quit, the company will run out of money, and everyone will try to get the job for the pay, but can due to the limited employees. Minimum wage must be decreased so…

Words 782 - Pages 4

Persuasive Letter Minimum Wage

Senator Smith, My name is Chris Halterman. I am a Junior at Idea Center High School. I am writing to you regarding the minimum wage and how I think we can help people who are struggling with living on the minimum wage. I want to see if you can change or support minimum wage by making it go up. One reason is there are many families that are struggling to live off of the minimum wage. My second reason is because it has gotten so expensive to do anything that nobody can live by themselves at this point…

Words 375 - Pages 2