Minimum wage pros and cons essay

The idea is that a worker is worth a certain amount regardless of the work they are able to do. Relative control groups and other market activities play a part in the outcome of the minimum wage.

disadvantages of raising minimum wage

In other words, if someone were trying to support a family by making minimum wage, they would qualify for federal poverty assistance. It has been found that the vast majority of people in this country would prefer to work for a decent wage than to receive government or welfare benefits.

Why raising minimum wage is bad

However, if I were Veldhuis I would have added that the social values of minimum wage may outweigh the negative effects on the economy. Increasing the minimum wage has been a major controversial issue; Democrats U. S and The Minimum Wage The question whether we should raise the minimum wage came up a lot in the last election. Do you see a sixteen year old, a middle-aged mother, a college graduate, or even a senior citizen worker. In economic perspective, some people are relatively unable to deliver compared to others. In , Congress amended the Act to include workers in retail and service companies. Most of them review and adjust it annually, depending on the cost of living. When looking at the economy the government should not increase mnimum wages, there are many factors Raising The Minimum Wage?

Oddly enough, minimum wage increases adjusted for the inflation they cause raise the real income of most families as compared to the poverty level. The minimum wage was increased twenty-two times from to Second, minimum wage laws raise business labor costs. One of the things that is likely to attract highly competent and skilled individuals to an organization is a solid remuneration package.

In the United States there are over 1.

why minimum wage should be raised

Brown signed this bill because employees cannot live above the poverty line if their minimum wage is not proportional to the cost of living Scheiber, Noam, and Ian Lovett. A study from the Federal Reserve Bank of Cleveland found that although low-income workers see wage increases when the minimum wage is raised, "their hours and employment decline, and the combined effect of these changes is a decline in earned income The remaining 29 states and the District of Columbia set rates above the federal level.

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The Pros and Cons of Raising the Minimum Wage