Raising The Minimum Wage Is A Bad Idea - 871 Words

In announcing his wrongheaded proposal to increase the minimum wage to $9 an hour, President Obama spoke in lofty terms: â€Å"In the wealthiest nation on Earth,† he said in his State of the Union address last month, â€Å"no one who works full time should have to live in poverty.† If the debate proceeds as it has – many times – in the past, then most Democrats will embrace the president’s message and back the proposal, while most Republicans will oppose it, on the grounds that higher labor costs will lead to higher unemployment. But we shouldn’t rely on political opinions in this debate. Facts clearly demonstrate that raising the minimum wage is a bad idea. The case against raising the minimum wage is straightforward: A higher wage makes it more expensive for firms to hire workers. How big an effect does this have on the job market? Economists debate this. But no one argues that increasing the minimum wage increases the number of unemployed workers who find jobs. In the end, the trade-off is clear. People who keep their jobs get more money; those who lose their jobs, or fail to get new ones, suffer. In announcing his proposal to increase the minimum wage, the president argued that doing so would alleviate poverty. The president is certainly correct to turn his attention to the poor, many of whom have been suffering for years in a tough economy. And it is clearly desirable for households that engage in full-time work not to live in poverty. But increasing the minimum wage wouldShow MoreRelatedWith There Being So Many Restaurants Open For These Fast1096 Words   |  5 Pagesare paid the minimum to work at these occupations. With the increase in business for fast food restaurants, workers are demanding for higher wages. However, if wages were to increase, something else would have to be compensated for this demand. With the increasing demand and suggestion on increasing the minimum wage, there are many pros and cons that will result from the increase. Andrew M. Cuomo, author of â€Å"Fast-Food Workers Deserve a Raise†, believes raising the minimum wage will not hurtRead MoreRaising Minimum Wage Means Raising American Concern760 Words   |  3 Pagescrazy when they first heard President Obama proposal to raise the minimum wage hourly pay from $7.25 an hour to $10.10 an hour. These people think that they are going to get more money in their pockets with a higher hourly wage. These people are clueless. They do not know the consequences that come with raising the minimum wage. Many people that work a minimum wage paying job are teenagers and young men and women, but higher minimum wages would make it harder for these teenagers to find jobs becauseRead MoreThe Minimum Wage Debate ( Hassett Strain )973 Words   |  4 Pagesthink about minimum wage and what our belief on raising i t is, most people think one of two things. People hold to the belief that a raise to the minimum wage good for the economy or it is bad for the economy. The authors of â€Å"the minimum wage debate† (Hassett Strain, 2013) would attempt to have us look at the debate in another way. In their article they use a number of rhetorical techniques on us to try and have the reader examine why they are in favor of a raise in the minimum wage. Are we in favorRead MoreMinimum Wage Is A Bad Idea890 Words   |  4 Pagesâ€Å"Raising the Minimum Wage is a bad idea† I. Over the past few years the Minimum Wage has become a controversial topic to people and politicians. As we all know people everywhere are talking about that we need to increase the minimum wage again. Some people don’t realize that increasing the minimum would have principal’s effects on low-wage workers. For instance, most low-wage workers would receive a higher pay that would increase their family income. Yet, some jobs for low-wage workers would probablyRead MoreThe Debate Over Minimum Wage940 Words   |  4 Pages The debate on raising the minimum wage has been discussed in detail in Congress for the past eighteen months. But as of late, writer William Finnegan suggests, it is â€Å"among the many urgent issues that it [Congress] certainly won’t address.† Though this issue is important, Congress seems to be putting off making any real decision in regards to raising the minimum wage. The bill to raise minimum wage from $7.25 per hour to $10.10 and hour over a two year period had been thrown around for monthsRead MoreWhy The Minimum Wage Should Be Raised?1410 Words   |  6 Pagesraised the minimum wage to $7.25. However, six years later the minimum wage rage remains the same. It is time once again for the federal government to raise the minimum wage to spur the economy. Raising the minimum wage would help the American economy and the daily life of the citizens for a variety of reasons. The first topic is that it not only would help the people but it also would help the economy as a whole. The second topic is that companies are already raising the minimum wage because ofRead MoreEssay Should Congress Raise Minimum Wage?614 Words   |  3 PagesShould Congress Raise Minimum Wage? As our federal government debates the idea to raise the minimum wage, there are several interesting questions that occur. Most importantly, should we raise the minimum wage? I believe it is a bad idea to raise the minimum wage from $7.25 per hour up to $10.10 or more in a short period of time. I will explain why raising minimum wage radically would kill jobs and hurt our economy. The main reason raising the minimum wage radically would kill the economy is theRead MoreThe High Cost Of Minimum Wage929 Words   |  4 Pageshigh cost of minimum wage For a while now many have been demanding minimum wage be brought up to 15 dollars. Strikes and protests for it are nothing new. Who wouldn t want to get paid more? This idea seems promising, but it may turn into a deadly trap ready to paralyze our economy. Minimum wage should not be raised to 15 dollars for at least several years because it will ruin our economy. It would be very costly, unfair and counterproductive if that were to happen. Raising minimum wage to 15 dollarsRead MoreRaising The Federal Minimum Wage1277 Words   |  6 PagesThe idea of raising the federal minimum wage that has developed nation wide attention, including protesting and arguments, has caused many discussions on why it could potentially help the economy grow and how it could result in the crash of the economy. Many people feel like raising the federal minimum wage is a must, while others think it will destroy the economy. There are many benefits that come with raising the federal minimum wage, but those benefits also come with many disadvantages. TheRead MoreMinimum Wage Should Not Be Increased1669 Words   |  7 PagesFederal minimum wage is a huge controversy around the world and especially in the United States today. It is the lowest wage that employers can legally pay their employees. The world’s first minimum wage law was passed in the year eighteen ninety-four in New Zealand. New Zealand’s minimum wage experiment caught the attention of other countries. It made them start considering the law for their own countries. The United States passed their federal minimum wage law in nineteen thirty-eight. The federal