The benefits of Raising the Minimum Wage

The government must raise the minimum wage for the reason it has many benefits. The minimum wage is a complex to decide because it impacts various income earning citizens in some ways. The minimum wage is a rule that creates for labor the lowest price that and business may pay. In the USA the minimum wage set by a network of local, state and federal statutes. Workers usually must be rewarded no not more than the constitutional minimum wage as determined by either the local, state or federal government. Theoretically, increasing the minimum wage raises the labor cost, all other effects being equal (harles Brown).

The raise the minimum wage is good for families for the reason that minimum wage rising would upsurge the incomes of many Americans. Particularly benefit for women for the reason that they tend to effort for lower salaries than men. Raising the minimum salary is a policy that is family friendly with more household salary; some individuals would select to give up work, have children, back to school, making it informal for peoples who necessity jobs to bargain them. The families working would have extra time for including politics, community life; the people of the America would begin to regain the middle-class radical company that they once had.

The raise the minimum wage is beneficial for economic recovery for the reason that to get the budget back on track, power spending has to be on the fingers of those who mainly spend in the actual economy. The raise the minimum wage is good for those who support individuals get out of debt because as our budget has become progressively directed in the direction of so-called FIRE and Wall Street sectors, more capital has travelled to the upper 1 percent. The raise the minimum wage is beneficial for those who protect workers from abuse for the reason that a top minimum salary would also support to mitigate the unmannerly, unfair working performs of many employers.

The raise the minimum wage is good for justice for working Americans because of a big jump most of all in the minimum salary would be compensation. The advantages of the raising the minimum wage are an economic stimulus, more opportunity for jobs, for social programs reduced expense, decreased the turnover rate and inflation. The disadvantage of the raising the minimum wage is fewer hiring because if industry must pay their minimum wage workers more, they cannot have enough money to hire as several employees (Freeman).

Works Cited

Freeman, Richard B. "The Minimum Wage as a Redistributive Tool." The Economic Journal (1996): 639-649.

harles Brown, Curtis Gilroy and Andrew Kohen. "The Effect of The Minimum Wage on Employment and Unemployment." Journal of Economic Literature (1982): 487-528.