"America’s lowest-paid workers won a $2.10 raise Thursday, with Congress approving the first increase in the federal minimum wage in almost a decade." this is not good because if you raise the wage then you lower the demand for workers but their are more people to work. This means that a company will loss workers because they can not pay them then they do not have the man power to produce goods and then they go under. MSNBC said that "President Bush was expected to sign the bill quickly, and workers who now make $5.15 an hour will see their paychecks go up by 70 cents per hour before the end of the summer. Another 70 cents will be added next year, and by summer 2009, all minimum-wage jobs will pay no less than $7.25 an hour."
http://www.msnbc.msn.com/id/18847929/http://www.msnbc.msn.com/id/18847929/http://www.msnbc.msn.com/id/18847929/http://www.msnbc.msn.com/id/18847929/
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7 comments:
I agree with you that if the minimum wage goes up then the demand for workers is lowerd. At the same time if minimum wage is increased then I would be getting paid more and I would be totally fine with that.
I agree that if the wages are increased then there will be a decrease in the need for workers. But we must consider the fact that as years pass living in certain areas does not get cheaper and people need an increase to the bare minimum so they could get by.
I am neutral on this cause because yes if you increase the wages there will be a lower demand for workers but now a days it is very hard to get by with a job that barely pays enough.
I am for the idea of increasing minimum wages. Even though there will be a decrease in the number of jobs available, it a price people should have to pay in order to keep up with the increasing cost of living in non poverty areas. Hopefully, there will be new areas of industry and therefor more jobs which will make everybody more money.
I think this is great, because America's standard is rising every day and this increase compensates for that rise. ALthough it will create less jobs, it gives the hard workers something to strive for, the premesis that this country was created on.
I think that minimum wage should be increaed because it will help the people who need help the most. ALthough imflation might increase, it will be beneficial still to the lower class.
Even though the businesses would be loosing workers, the way the living costs has increased it seems impossible for the working American with 3 jobs to even pay rent. Minimum wage increase seems to be the better decision since the manufaturers and any one else who needs to sell refuse to lower their prices.
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