Minimum Wage Should Increase Unemployment - 996 Words

We, the people elect representatives to improve society, and some of us have very high standards. It is a representative’s duty and responsibility to manage taxes, improve health, protect the environment, protect lives, improve education, and many more. Rightfully, we want each and every representative to perform their duties, and hopefully exceed expectations. Without a doubt, as a fellow representative who represents the people, you should raise minimum wage. It is all about the people, and making society a better place. Theoretically, minimum wage should decrease unemployment, close racial gaps, enable families to take care of basic necessities, and would somehow make the world a better place. However, theories are ideas, intended to explain a situation; they are not facts, they are not constant, and they can be wishful thinking. Therefore, an increase in minimum wage does not ensure these privileges. There are too many factors to consider before making a drastic decision. A raise in minimum wage will negatively impact the workforce which will eventually cause Inflation. We live in a society where roles are reversed, and where people wants fast and efficiency. At the age of fifteen or younger, many young adults have children. Also, many young adults are the acting parent for their siblings. These teens are without experience searching for a job to improve their situation. With the opportunity of a job, they have the funding to take care of their child/children, or theirShow MoreRelatedLink between Higher Minimum Wage and Higher Unemployment1179 Words   |  5 PagesIn theory when an increase in minimum wage increases the cost of low-wage workers firms should want to hire less workers, however in reality this basic theory might be wrong according to Plumer B. (2013) While some studies found a link between higher minimum wage and higher unemployment level many others such as a recent paper from U.C. Berkeley that exploited differences across state borders did not find a link between higher minimum wage and higher unemployment. A study by John Schmitt of theRead MoreA Brief Note On Raising Minimum Wage1088 Words   |  5 PagesBrendan Mason Mrs. Scruggs 08/07/15 Raising minimum Wage There is always talk about the problems of North Carolina’s economy, and these problems then become publicized and put throughout the media, informing people on the condition of their state’s economy. A popular topic lately is the state’s minimum wage, and whether it should be raised or if we should keep the current minimum wage. Usually, opinions vary on what to do about minimum wage, however there certainly seems to be a larger group ofRead MoreThe Positive and Negative Effects of Raising Minimum Wage805 Words   |  4 Pagesincome. Many people’s income relies on minimum wage. In 2012, 3.6 million people received an hourly pay at or below minimum wage. There is an ongoing debate in government as to what the minimum wage should be. Stuck at $7.25, Obama has suggested raising the minimum wage to $9.00. Depending on a person’s perspective, raising minimum wage could be positive or negative. Minimum wage has the ability to change lives, and change t he economy. Small businesses and unemployment, teenage demographics, and the costRead MoreShould Minimum Wage Be Raised?870 Words   |  4 PagesShould Minimum Wage Be Raised? Minimum wage has always been a controversial issue. Many politicians use the argument of minimum wage for their own political propaganda. Some may argue minimum wage should be raised, while others believe it will have detrimental effects on our economy if it is raised. Surprising to most people, minimum wage earners make up only a small percent of American workers. According to the Bureau of Labor Statistics, minimum wage workers make up about 2.8% of all workersRead MoreThe Minimum Wage Should Be Legal905 Words   |  4 PagesRise in minimum wage has several impacts apart from unemployment. The minimum-wage workers would have to pay more taxes and receive fewer benefits if they are subjected to rise of minimum wage. The federal marginal rate for tax is 32 percent on an average for low earning members. This would amount to almost one third of the income of a worker. The tax rate is quite high for low paid workers. The rise of minimum wage would also reduce some of the advantages an d leverages that the low-wage workersRead MoreRaising The Minimum Wage?1575 Words   |  7 PagesThe issue of raising the minimum wage from $7.25 to $15 an hour is a heavily debated topic. Both sources against or in favor of the minimum wage refer to a â€Å"growing gap† between low-income workers and high-income earners. Sources against the minimum wage believe raising it will increase this gap, whereas those in favor of the minimum wage believe it will decrease this gap. The arguments in favor of the minimum wage rely mostly on ethical beliefs, such as â€Å"pay should reflect hard work,† to advanceRead MoreThe Effects of Raising the Minimum Wage on US Economy1507 Words   |  6 Pagessupport their family. 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 in crease 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, thereRead MoreImpact Of Minimum Wage On Unemployment1305 Words   |  6 PagesImpact of minimum wage on unemployment The supply and demand factors show significance towards growth of unemployment. It has been observed that the price floor above equilibrium wage should cause unemployment. There are many people who have provided their arguments against the fact. However, it has been observed that whenever there has been a rise in the minimum wage of workers, unemployment rate goes very high. For example, an organization has to maintain its expenses as well as its incomes.Read MoreAdvantages And Disadvantages Of Minimum Wage In Taiwan1541 Words   |  7 PagesIntroduction Nowadays, minimum wage is very important for workers in this world. In addition, minimum wage is also a core element of public policy in lots of countries. For example, minimum wage has become a hot topic in Taiwan recently. The Taiwanese complained that the working hours are too long, and the wages are too low. Because of that reason, workers in Taiwan have come forward to protest this policy. Therefore, according to this example, minimum wage has become an issue that cannot be ignoredRead MoreCongress As Part Of The Fair Labor Standards Act1084 Words   |  5 PagesStandards Act (FLSA) instituted minimum wage back in 1938. The first minimum wage was at $0.25 per hour and the last minimum wage increase occurred in 2007. Over the past 65 years the minimum wage has varied considerably in inflation-adjusted buying power. It has averaged $6.60 an hour in purchasing power in 2013 dollars, but it has ranged from a low of $3.09 an hour in late 1948 to a high of $8.67 an hour in 1968. Toda y’s minimum wage buys somewhat more than the minimum wage has historically, although