Minimum Wage Is A Bad Idea - 890 Words

â€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 probably be eliminated because raising the minimum wage takes away jobs from the low-skilled and young workers. In my opinion, the minimum wage increase would have a negative impact in employment, us the consumers and families receiving benefits. In this speech I plan to discuss why the minimum wage shouldn’t be raise to $15 an hour. Firstly, I will discuss how the raise of the minimum wage would affect employment. II. Effects on employment. A. Loss of jobs. 1. Once the minimum wage is raised, many workers would lose their jobs. 2. According to The Congressional Budget Office, â€Å"The increase in wage would reduce employment by 500,000. That amounts to about 0.3 percent of total employment, and about 3 percent of directly affected workers (500,000 of 16.5Million).† 3. Also, The Congressional Budget Office, came up with an estimate of how big an effect the minimum wage would have on employment. In the table, you can see how the CBO compared the $9.00 an hour for $10.10 an hour. B. WhoShow MoreRelatedRaising The Minimum Wage Is A Bad Idea871 Words   |  4 PagesIn 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 leadRead MoreWith 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 MoreThe Minimum Wage766 Words   |  4 Pageswhether or not the minimum wage should be raised. Minimum wage can produce an impact on everyday life more than most may think. It is not just about more money in a person’s pocket; it can affect the economy in multiple ways. Many people think it would be a good idea to raise the average minimum wage, but they do not understand or take the time to think of the disadvantages. The minimum wage is the least amount a worker can be paid at a job, by federal law. The present minimum wage is set at sevenRead 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 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 MoreWhy The Housing Market Is Not The Best Investment?889 Words   |  4 Pagescrash such as: the minimum wage fallacy, The prices of housing rising, the government supporting bad loans, and why the government cannot stop it. To begin with, before I can explain anything you have to understand that your mortgage is a lot more complicated than even you realize. Your mortgage, like everyone else s, is from a bank, and this bank groups your mortgage with thousands of of other mortgages and this is called a mortgage bond. This was a very amazing idea and made tons of moneyRead 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 MoreThe Causes And Consequences Of Class Conflict Between The Bourgeoisie And The Proletariat1422 Words   |  6 Pagesbourgeoisie, and then they would revolt, demanding changes to smooth the conflict. Over the years many ideas have been proposed by many different individuals in office and also many have been implemented. In 1933, a series of meetings were help on the topic of minimum wage, lead mostly by the Department of Labor. Many different representatives from organizations with the interest in minimum wage appeared at each of the meetings. Some groups that attended were National Consumers League, National League