will higher minimum wage change anything but raise the prices for everything else?
Depends on how you look at it, raising the minimum wage to a higher pay would hurt small businesses but not big companies.The only thing that would change is the amount of local shops open because some may shut down due to the fact that they must pay their employers more than what they used to.
The raise in minimum wage will have other effects other than the raise of everything else, the raise would change the chances of keeping your job because of the cuts the companies will have to make. Also, some employees will not need to worry about competing for their job and help them in a positive way as in having a higher pay in order to help their income to take care of their families.
Yeah, it would most definitely change the prices of items stocked, but on top of that, raising the employees pays, could harm the businesses, as well as the raise in prices, could as well because customers will refuse to pay such a high price for those items. But then if you think of it in a positive aspect, then it could be good, say you make a good amount of money, and receive no Financial help, and get a raise then that's extra money to use to spend on bills or on kids. All in all it just depends how you look at it.
Changing the minimum wage would definitely affect the lives of those who are relying on the benefits given for not having a sufficient amount of money to support themselves. In" For this McDonald's cook, wage hike could be more harm than help", Don Lee states "At $15, he figures he'd need to reduce his total work hours to ensure his new income didn't disqualify him from his current benefits". This quote is showing that this worker, who is given benefits, needs to change his schedule in order to compensate for the increase in the minimum wage.
Will many more people benefit from higher minimum wages or will it affect more people?
Not only will it bring the prices of stuff up, but people will lose jobs, some may starve thanks to having no money income, people will lose their homes or the debt will pile up. People will need to start shopping at... Walmart (!!!!!!!!!)for clothes instead of American apparel and that's not the worst part! People with benefits from the government will totally lose their support!!!!!!!! Thanks obama.
Higher minimum wages will indeed increase the prices of other items. It would honestly be worthless to increase minimum-wages if items will increase in price. That's why the only way that this would be a good idea is if other items do not increase in price. In my perspective this is only a good idea if the minimum wages increase, but the othe only a good idea if the minimum wages increase, but the other items don't.
All the people who are receiving the raise most likely won't notice a difference in all the rising prices, but people who are unemployed are going to definitely notice how much harder their everyday struggle has become. It will soon be even more difficult for them to purchase just the necessities in life such as food and drinks.
I strongly disagree, even people with jobs will feel the difference in prices. Also, higher prices in food and such isn't the biggest problem. In the article, "For this McDonald's cook, wage hike could be more harm than help" Douglas Hunter suffers in a different way. The pay raise will cost his income to increase and for him to lose his advantage on free health checkups. Without this, the raise in pay just gets eliminated completely by all the extra medical bills he now needs to pay for himself. I feel that the raise in pay for minimum wage is more trouble than it is worth and will just cause a lot more complications. Things are tough now with the low pay, but just think of all the disadvantages and changes this new minimum wage will cause. Ask yourself if this is all really worth it.
Is there a way for small businesses to pay their emplyees without needing to let any of them go?
I think there are possibilities but they aren't very successful. For example, if the small businesses get mercancy that everyone wants then its possible to pay the employees with a good wage. But if small businesses want to stay up and raise the minimum wage then they WILL HAVE to let some people go.
If small businesses raise the prices of some of their products, they may have a chance of being able to keep all of their employees. They could also cut back on the higher-earning employees' wages, but that would be like practically asking a worker to quit. However, that is a possibility.
I don't think there is any way for small businesses to pay their employees without letting them go because of the fact that they have to pay a higher wage. Even if the small businesses chose not to raise their wages, which I'm sure they have to, then the employees there would feel negative towards their bosses because everyone is getting paid a higher wage than they are, and eventually will quit, and the business in the long haul would fail.
Yes, but I think that the stores will start making the prices go up, so they won't to need to lay people off.
Most small businesses try to but the only way to manage their margins is to raise the prices or exceed more out of their employees to make things as efficiently as possible. Mrs Warner
Yes, of course there's a way for small businesses to pay their employees more without letting them go. There are many ways to do this, the raise doesn't necessarily have to be so much. Of course it must be reasonable for both the employee and the owner. They just have to come to an agreement
How exactly would this increase of the minimum wage somehow affect the big businesses and companies in a bad way?
Just like how high minimum wage effects the small businesses it can affect the big businesses the same way. For example some business will have the raise the prices of things in order to pay things such as employees or merchandise, this will have less people buying this from them because the prices are smooch higher. This can lead to jobs of the employees getting cut because they don't have enough money to pay for their workers since not much business is coming to them. Lastly i think that it will be harder to move up in your job because as you get a better title in your job you will get payed more, but since you already have a high minimum wage for example $15 then the workers that are above you will have to get payed more money and this again can lead to job lose. After all this the business can get shut regardless if you are a big or small business it works the same for both.
I believe big businesses will have to raise their prices to ensure they keep the same amount of income or they will have to let go some of there employees that they pay at the minimum wage.
In my personal opinion, corporate America will not be affected by the increase of minimum wage to $15. For example, corporations such as Walmart are able to raise their employee's minimum wage. However, they choose not to. The CEO make a large amount of money. How is that a corporation can not pay a $15 minimum wage but the CEO of Walmart can make a $35,000,000 salary which converts to $16,826 an hour?
I believe that big businesses will have an effect due to the rise of minimum wage, but not as big as a small company. A small company will have to let go of people and have to raise prices. On the other hand, big companies will let go of people but have enough to complete the tasks. This raise can affect big companies in a bad way by increasing how much a company waste money. For example, it will waste more money than they will earn.
Although it is true companies will be required to spend more money to maintain a large work force the solution to maintaining thier income is just raising thier products price and often times only by a few cents. If made mandatory all companies will most likely raise thier prices to afford to pay thier work force but this will be a more even distribution so large corporations won't worry much about the "guy next door" selling the same product for cheap. Small companies are usually private and just that, small. Although thier might be effects on the smaller stores who're on the brink of making it or breaking it but this change doesn't force much on small business besides maybe a few hundred extra dollars at most. In the end of the day we live in a free market capitalist society and companies will have to be forced to conform to us and our changes and needs as a society and consumer weather or not they want to is thier choice and it's ours to accept it or not so if a large company hurts or if a small company hurts then it's sad but leaves room for another who can keep up with these changes.
How can the increase of minimum wage affect and benefit families that need help from low resources?
It would benefit families by giving them some extra money, but at the same time, they wouldn't be able to receive as much financial aid for college, they'd probably be unable to receive certain medical insurances, and lose a lot of free support that they might've once had. And the few extra dollars that they'd be earning wouldn't be enough to make up for those losses.
These families will get extra money from their job, but financial aid, welfare, and child support can be taken away causing more financial issues for the family mostly the parents.
The increase of minimum wage would help those families that need just a little more money to provide for a better future. In "This dishwasher must choose between shoes for sons or paying phone bill" Tiffany Hsu states "But the promise of better compensation allows her to dream about saving a little for the future or affording a more prestigious college for her 15-year-old". This quote shows that the increase would help this mother save money to put her child in a better "more prestigious" college.
An increase in minimum wage goes both ways for both the workers and employers. In this case it affects/benefits mainly families of middle/lower class. A benefit would obviously be a higher paycheck to help the workers lives and those involved (children, spouse, other family) in not living in poverty or unfortunate conditions. Although if a worker applied for help from the state such as free health insurance, WIC or even free/reduced lunch at schools they could be denied due to an increase in monthly or yearly salary. Even if they don't technically qualify the workers would still need help for all necessities in their life.
The increase of minimal wage might help rid people of poverty but might affect them because competition might be too harsh and many people might lose their jobs
It can increase how much they can provide to their families or to there well being. For example there would be no need for EBT cards because there is enough money for a person to feed themselves and their families. Another way this can benefit is all the homeless or poverty stricken families can save up for something beneficial for themselves or others.
If smaller businesses end up using technology based labors, which cuts off jobs, would they hire those to control the automations or simply shrink the lower-paying jobs and higher the higher-wage jobs?
In terms of being an employee, what are the negative effects of having a higher minimum wage?
The negative effects of having a higher minimum wage, in terms of the employee, would be that they may be let go because of the cuts the owners of the business will have to make in order to keep their business going. Another negative effect will be that the employees would have to compete in order to maintain their job that in this case will pay more but harder to be chosen to continue working for that company because of the raise in minimum wage.
It depends how you look at it, in the case of the guy from the article, it would be negative because he would no longer get his benefits like countycare. Which is true, I personally know people who work in the fast food business, who make minimum wage, which is I think $9 at the moment, that have help from the government, and if it were to go up tremendously, then they're help would disappear, and they'd be forced a huge amount of money for medicine, or doctors appointments. So in terms of negativeness, the fact that you're making more money, can in fact be a negative thing, because it could mean paying more money out of your own pocket for necessities, and leaving you with little to no money.
Negative effects would be that there is an extremely high possibility that a worker can and will be fired. Also the fact that a higher wage means a higher monthly/yearly salary which means a worker could be unqualified for help from the state like health insurance, medical needs and free/reduced food from their kids schools (assuming they have kids). Also wouldn't their taxes go up? That would also be a bad thing considering they are already finacially unstable
In the articles about minimum wage, the articles would show the good and the bad in the raise of minimum wage and how it affects the employees and the small businesses, but how would the small businesses be able to handle the raise of minimum wage by looking at the cons and the pros in order to succeed with their business?
In my opinion, I believe a small business can be able to handle the raise of high minimum wage. For example they can higher workers who have the potential, skills and who are more reliable this will make the business more effective. Also the workers will be happier with their work knowing they will be getting payed more money. Both the business and employees will benefit from this. But then again it all depends how the business decides to handle the high minimum wage for example they can higher more skilled workers or get rid of some to make it work.
Do you think raising the high minimum wage will cause more job loss or help people gain more jobs? If so why?
With higher wages employer's and companies will most likely begin to lay people off for the sake of not losing money because although a rise of three dollars seems small, large corporations will end up paying a hefty price for thier large labor forces. To avoid this people might just be replaced by automated systems and the such. Although jobs like these might end, with a growing portion of people out of work we may see the population push to open more professions. This meaning both job loss and growth can occur. In the end there is no real way of telling without seeing it in action.
I believe raising the high minimum wage will cause more job loss because businesses are not going to be able to pay everyone a higher pay. Therefore not being able to pay everyone equally, businesses will have to let employees go.
If minimum wage does go up then there is more likely people getting laid off. There is ways too with technology advancing so the customers won't have to be so reliant on the employees. Even if the increase of minimum wage does happen and the employees productivity becomes better the big cooperations will find a scheme to not pay the employees that type of money.
What would be the effect of a raise on minimum wage mean for the middle class and our overall economy and does it effect people differently in some states then others? Explain.
Will a minimum wage of something lower than $15, but higher than what it is now be such a problem for people?
With a higher minimum wage going up next year in 2016 to $10 an hour, do you think that $10 is going to make an impact on small businesses as well as large businesses the way it is explained in the article? Would it be a positive or negative raise? Explain
What will happen to those who don't qualify for the benefits, but need it? What will they do?
They will either need to find a job that pays less so that they are eligible the benefits, learn to live without the benefits, or find a job that will pay for the benefits that they need.
How would raises minimum wages affect low income families?
Depending on the people they work for, if they are let go, it's gonna be hell for them. But on the other hand, if these families get the raise without any repercussions, their economic progress will be noticed .so it's either one or the other. The middle person would be the ones who lose benefits from the government due to a higher pay.
It could affect them in both a positive and negative way. It could provide the family with more money allowing them to become more financially stable. On the other hand, if they start making too much money the family may become ineligible for the benefits that they may be receiving.
Even though they will receive higher pay, it would not be sufficient enough to get them by really well. Also, there will not be as much help from the government as they did before.
Honestly i hate to say this but food prices go up rent for apartments go up no more government help such as medical, dental, food stamps ebt now everything will come out of your paycheck.so that fifteen dollars is not fifteen dollars anymore
The people that are let go from their work will find it difficult to find work from employers that already Let go of people themselves. Not to mention that by being let go suddenly, and having children will be a nightmare. scarier than a mad albert deciding on punishments. So while some people are rejoicing because of higher pay others are In the saddest times of their lives especially if both income people are cut off or fired! But there might be a way to prevent many of these hardships.perhaps gradually increasing the minimum wage over a period of years will lessen the consequences
Is there any way to prevent any of these problems from occurring by changing any factor such as time or the amount of money that rises?
Suppose that instead of the minimum wage increasing to $15/hour it only increased to $12/hour. What kind of impact would this have on businesses and employees alike?
I think it will affect smaller business owners because they have to struggle to keep up with the competition and some people might lose their jobs because they can't stay in business
Can there be a way to fix any negative issues if there was a $15 minimum wage?
One way to fix the negative issues of raising
Minimum wage to $15 is for insurance companies to alter their requirements for eligible clients to give them a better opportunity to live comfortably and not having to worry about losing their insurance and/or other programs that they're involved in.
Raising the minimum wage would affect a lot of people. A lot of people would lose their jobs and many small businesses would go out of business. People would lose their job because the employers wont be able to pay them. Some people would loose their business because they wont have enough money to pay their employees and pay for the business's necessity's.
I think a solution would be to expand the amount of time it takes to get to 15 dollars. If it takes like 5 years or so, the gradual change wouldn't be so dramatic or affect people in such a drastic way. (Future political advisor here)
I agree with Heber's comment that said that there should be a gradual increase in minimum wage. For example, if the amount increases in let's say a span of around 5 years, they can increase it by maybe a few cents a year or every 6 months so that the change won't be so drastic and the people who receive aid from the government would be able to last longer with programs like the one that the McDonalds worker is involved in
How does higher minimal wages affect lower income families and smaller businesses?
Although raising the minimum wage will affect many people it will help out our weak economy.There is no perfect amount to set the minimum wage but anything higher than what we have now will helpful. In this case i would agree that our minimum wage should be raised.
If the economy does get stronger with raise of the minimum wage , will that help in any way to the people who are affected by it?
Will minimum wage raisement affect the world we live in ?
I think it would impact the given things to us , for example health care , ebt food stamps , and etc . This means that we would pay a whole lot more with minimum wage rage raised then kept , because at least when it's kept the same , we would still have things to help us pay what is needed and not be alone , especially when it comes to health.
In addition to , I believe that when things like health care plans and money for food are provided it's a good thing to take advantage of. Also when we don't have enough money, but have enough for shelter we should be grateful for having what we have. For example, when a wage grows that means health care would have to be payed by , no exceptions which means that a appointment with the doctor would cost a lot more.
What are the different ways in which people with different financial situations would be impacted due to increase in the amount of minimum wage ?
With a new 15 dollars an hour in what ways can this hurt more than a simple profit?
How can rasing the minimum wage make a difference in people's lives?
Does raising the minimum wage have more pros than it does cons?? Is it going to be worth it in the long run?
I believe that the amount of minimum wage should reflect the amount of hardship put into each job, because being paid more should be earned by the people who are willing to work for it, not just anyone who wants it.
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