Why should minimum wage be raised?

Why should minimum wage be raised?

By boosting the income of low-wage workers with jobs, a higher minimum wage would lift some families’ income above the poverty threshold and thereby reduce the number of people in poverty.

Why should minimum wage be raised in Philippines?

A popular and compelling argument in favor of raising legal minimum wages is that higher minimum wages will reduce poverty. Quite simply: putting more money into the pockets of low-income workers will allow them to purchase more of the basic goods and services needed to survive.

What is a good thesis statement for minimum wage?

Sample thesis statements: Raising the minimum wage will help stimulate the economy because low-wage workers will be able to spend more. Increasing the minimum wage encourages workers to be dedicated to their jobs because they will be happier and more satisfied with their positions.

What are the pros and cons of increasing minimum wage?

Raising the federal minimum wage to $15 an hour is a policy goal for many lawmakers. Increasing the minimum wage is expected to lift individuals out of poverty and improve work ethic, however, it also comes with many possible negative implications, such as inflation and a loss of jobs.

Is increasing minimum wage good or bad?

The Bottom Line Raising the federal minimum wage to $15 an hour is a policy goal for many lawmakers. Increasing the minimum wage is expected to lift individuals out of poverty and improve work ethic, however, it also comes with many possible negative implications, such as inflation and a loss of jobs.

What are the cons of raising minimum wage?

Cons of a Higher Minimum Wage Companies may pass on the cost of increased wages to consumers, in the form of price increases (the “scale effect”). This would raise the cost of living and create a need for further minimum wage increases.

Is Raising minimum wage good or bad?

The potential benefits of higher minimum wages come from the higher wages for affected workers, some of whom are in poor or low-income families. The potential downside is that a higher minimum wage may discourage firms from employing the low-wage, low-skill workers that minimum wages are intended to help.

What are the pros and cons of minimum wage?

Top 10 Minimum Wage Pros & Cons – Summary List