In: Economics
Write a position statement on Minimum Wages in the United States.
The answer should include the following sections: (1) your topic introduction, (2) your position on the topic, (3) economic arguments against your position, (4) economic arguments for your position, (5) a brief concluding paragraph, and (6) at least three sources which are used in this writing.
MINIMUM WAGES IN THE UNITED STATES
INTRODUCTION
Minimum wage is the lowest income that a person legally recieves for any work.The minimum wage rate varyb between different countries.Minimum wage is seen as away to improve the standards of living of workers which can increase productivity.It is a price floor as to maintain a stable economy ,helps prevent inflation,and increase job availability .
In US, many citizens struggle, barely making it with minimum wage paying jobs. Most people work two to three jobs put together, to pay for their livings and to support for their families. Minimum wage is the lowest wage permitted by law. currently people in the US seem to ignore the fact that raising the minimum wage will put the most people out of work, and does not benafit for US economy
According to, Jon corzine "No family gets rich from earning minimum wage. In fact, minimum wage doesnt even lift a family out of poverty.that means,there should not be a minimum wage. If US removed minimum wage , we could wipe out un employement completely and business could hire workers at all levels.
In this case, I belive that, In US, there are lot of people around the world who struggle with money and asatisfactory way of life.so, there is a standard minimum wage set for the working class of their country and there is a federal minimum wage of seven dollers and twenty five cents per hour worked.We know that almost every state has another set minimum wage,which typically is a little higher than the federal minimum wage but it canot be lower than seven dollers and twenty five cents. As the minimum wage goes up in certain states,the quality of life also improves. The problem with a higher minimum wage is now people are getting paid higher for entry level jobs and people new to the workforce. The cost of living, have a direct effect on how much money people make.
The economiest stephen levy stated that the economy in 2014 was "as good as before the great recesion may be even better". so we can understood unemployment is affected and unemployements rate are improving but sadly there arev still people struggling with un employement and poverty.These struggling citizens are hesitant for another raise of minimum wage because of the effect it will have on goods and services.
conclusion
In this topic causes concerns for a majority of citizens in the United States, the historical statistics have proven to be in favor of raising minimum wage to benafit the economy.Based upon the analysis of this state economy of 2016 to 2019it is safe to conclude that the benafits of an increase of minimum wage outweigh the possible harmful effects.Due to this conclusion, the US leaders should mandate a raise of minimum wage to atleast $10.10 per hour.This should be definitely worth the risk.
SOURCES
1.Minimum wage laws in the states US department of labour
2.Bradley,David H State minimum wages
3.Wikepedia