The Benefits Of The Minimum Wage

My firm belief is that refusing to pay people high enough wages to live a comfortable life in exchange for their labor is exploitation. The North Texas Daily recently published an opinion piece regarding minimum wage in the United States. I disagree with that statement, as well as the reasoning, on a number of fronts.

Where I take issue with this is the potential problems that the potential problems already exist, and keeping wages low will do nothing to solve them. The problem with that reasoning is that minimum wage increases happen incrementally, over the course of years, not all at once. Additionally, since our minimum wage is based on the poverty line, and the poverty line is outdated and inaccuratebusinesses that demand to keep wages low are advocating for further exploitation of their workers.

When working-class people are given more money for their labor, more money will be flowing into the economy.

Related storyboards

Unfortunately, due to the nature of how the U. A large portion of that newly flowing cash will go straight into the pockets of billionaires and large corporations. These entities are far less likely to share their wealth than an individual consumer because after someone accrues a certain amount of wealth, their living expenses can be covered by a fraction of the dividends they make off of investing their fortune.

The rest of their plus-sized bank account will be locked up with no way to benefit others through the free market. Sounds bad, right? Well, the fact is this already happens. The same could be said for potential hires who have more experience than their competitors. Yet again, the same could be said for disabled people. The requirements of many restaurant jobs including the one that I currently work demand an employee that is able to stand for multiple hours at a time, lift more than fifty pounds and climb ladders if necessary.

If a person looking for a job uses a wheelchair, there is a strong chance they more info be unable to do any of these things that I do every day working in a restaurant. Next, the piece depicts a thought experiment over how paying workers more for the same work will cut into the costs of small business owners. Disregarding the fact that on average, the gap between productivity and wages is the largest it has Society s Effect On Society beenthis simply makes no sense. I care about small businesses as much as the next guy, but this scenario is entirely disconnected from reality and borders on misinformation. As much as it surprises me to say, lawmakers have actually thought their way through this one and have found a pretty effective solution.

Minimum wages being increased, at a state or federal level, is not a huge switch being pulled that requires small business owners to double the amount of money they pay their workers. A new minimum wage being signed into law is a signal to employers across the country.

The Effects of a Minimum Wage Law

I understand why. These people are trying to achieve the American dream, strike out on their own and leave a mark on the world. Personally, my first thought with regards to minimum wage is not the business owners, but their employees. It can mean paying off a car payment, paying more towards their student loans or even living in a nicer apartment.]

The Benefits Of The Minimum Wage - authoritative

The U. In , about 3. There are exceptions to these laws in the United States. Several minimum wage laws in the U. There are several advantages and disadvantages of a minimum wage for workers to review when looking at the effects of a guaranteed income when employment on society as a whole. List of the Advantages of a Minimum Wage 1. A minimum wage gives people an incentive to work. If all things are equal in your situation, then most people would choose the job with a higher wage. When there is a minimum wage for workers, there is a baseline incentive which encourages people to work. The Benefits Of The Minimum Wage