Today the U.S. Senate voted on a bill to raise the minimum wage to $10.10 but they ended up falling short of their goal. The Senate needed 60 votes to pass the bill and ended up getting a vote of 54 to 42. The bill has been championed by the Dems with the Republicans leading the counter.
The Democrats believe raising the wage will give a "fair shot" to all Americans and help out our middle class. While the Republicans believe that raising the wage will hurt some and harm others and that we need more job opportunities not a higher wage. (These are just the broad ideas)
I myself am in favor of raising the minimum wage. I think people have the idea that if we pass a bill to raise the wage than it will magically happen when the President finishes his signature. If the bill gets passed, it will gradually raise the wage to $10.10 over 30 months, allowing businesses to adjust. I think that not raising the wage is a bad move by the government because factors such as new technologies and education are making the cost of living much higher than it used to be. Times are changing. People won't be able to survive off of $7.25 forever.
But what are your thoughts? Who's Right? Raise the Wage?
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5 comments:
How do you feel this would effect small businesses though? I'm aware that local businesses that I buy my all natural food from already have to raise prices in order to maintain their stock. Wouldn't most agree their prices would increase even more. It seems raising the wage would damage small businesses and not corporations.
I believe in the raising of minimum wage but not in the sense of increasing it by $2.85. This would be a drastic change that would not be adjustable in 30 months. I feel that progression in this sense should be slower in the sense of not jumping immediately to $10.10. Change in a major american issue like this needs time. But I am in favor of raising minimum wage due to the ridiculous cost of living in 2014.
Kyle,
I think this is an interesting topic when talking about it under the scope of young people. Obviously this is something that will at least simply saying will "help" people. With that said I think it would be difficult to say exactly what the effect would be on business on a large scale. With a sliding scale model being used I think it will only lead to higher prices and higher prices of services and goods. When the cost of business goes up, the consumer is typically the one who will suffer. Raising the wage to 10.10 will surely help a lot of people but will most certainly hurt people looking for entry level part time jobs. I do not know enough about this topic to make further comments about the economic repercussions. Being an idealist I would like to see our economy grow by adding jobs, increasing production and growing our GDP. We just saw that our economy is growing by only .01 percent while China is growing at 4,5,6,7% annually. I think there are better ways at getting people to work for a living wage. By offering more jobs, a more vibrant economy and a fairer, flat tax code could be good starts. Like I said I don't know enough about this topic yet but there are my thoughts.
I think wages should be raised for a couple of reasons. The first reason is so our economy can get back on track. If the minimum wage is raised than it will increase spending which will ultimately boost our economy. Another reason for raising wages is to help people get out of debt. An increase of a couple dollars per hour could make large improvements in the lives of lower class citizens. With a raise in wage a poor citizen stands a better chance of entering the middle class.
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