Close Menu
Read Us 24×7
    What's Hot
    SOA OS23

    SOA OS23: The Future Blueprint for Scalable, Agile Digital Systems

    May 29, 2025
    Inter vs. Estrella Roja

    Inter vs. Estrella Roja: Full Match Guide and Detailed Stats

    May 29, 2025
    VCWeather

    VCWeather.org: The New Face of Hyperlocal Weather Reporting

    May 28, 2025
    Facebook X (Twitter) Instagram Pinterest LinkedIn
    Trending
    • SOA OS23: The Future Blueprint for Scalable, Agile Digital Systems
    • Inter vs. Estrella Roja: Full Match Guide and Detailed Stats
    • VCWeather.org: The New Face of Hyperlocal Weather Reporting
    • Baltimore Orioles vs San Francisco Giants Match Player Stats
    • Benefits of Sukanya Samriddhi Yojana for Savings
    • 10 Best Automated Penetration Testing Tools
    • 7 Best Backlit Keyboards for Every Budget
    • Top 11 “Best Buy” Alternatives for Your Electronics Needs in 2025
    Facebook X (Twitter) Instagram Pinterest LinkedIn
    Read Us 24×7
    • Home
    • Technology
      SOA OS23

      SOA OS23: The Future Blueprint for Scalable, Agile Digital Systems

      May 29, 2025
      VCWeather

      VCWeather.org: The New Face of Hyperlocal Weather Reporting

      May 28, 2025
      Best Automated Penetration Testing Tools

      10 Best Automated Penetration Testing Tools

      May 13, 2025
      Backlit Keyboards

      7 Best Backlit Keyboards for Every Budget

      May 12, 2025
      Dark Oxygen

      Dark Oxygen: Redefining Our Understanding of Oxygen Production in the Deep Ocean

      May 9, 2025
    • Business
      Sukanya Samriddhi Yojana

      Benefits of Sukanya Samriddhi Yojana for Savings

      May 13, 2025
      7 Smart Ways to Earn Extra Money in 2025

      7 Smart Ways to Earn Extra Money in 2025

      May 10, 2025

      A Deeper Look at What It Is Like Working at a Prop Firm

      May 1, 2025
      FintechZoom.IO

      FintechZoom.IO: Revolutionizing Fintech in 2025

      April 7, 2025
      Crypto Management

      Unhosted: Revolutionizing Crypto Management with Advanced Wallet Technology

      March 20, 2025
    • Entertainment
      YouTube Audio Downloader

      YouTube Audio Downloader: Your Music Liberation Tool 🎵

      May 9, 2025
      Firestick

      10 Amazing Benefits of Owning a Firestick You Need to Know

      April 24, 2025
      nhentainet

      nhentai.net – Why It’s Attracting Global Attention?

      April 20, 2025
      chatgpts-ghibli-art-generator-goes-viral-why-is-everyone-obsessed

      ChatGPT’s Ghibli Art Generator Goes Viral – Why is Everyone Obsessed?

      March 29, 2025
      Taylor Swift's Producer Suggests New Album on the Horizon

      Taylor Swift’s Producer Suggests New Album on the Horizon

      March 28, 2025
    • Lifestyle
    • Travel
    • Tech Q&A
    Read Us 24×7
    Home » The Pros and Cons of Raising the Minimum Wage
    Lifestyle

    The Pros and Cons of Raising the Minimum Wage

    Sayan DuttaBy Sayan DuttaFebruary 18, 2023Updated:May 13, 20234 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Reddit Email WhatsApp
    pros of raising minimum wage
    Share
    Facebook Twitter LinkedIn Pinterest Email Reddit WhatsApp

    The U.S. House of Representatives approved an amended version of the Raise the Wage Act of 2019. This would increase the federal minimum wages gradually to $15 per hour by 2025. The federal minimum wage currently stands at $7.25 an hour. It has not increased in the past nine years.

    However, the bill was killed in the Senate because the Senate Committee on Health, Education, Labor and Pensions refused to vote on it (or discuss any increase in minimum wage). The debate over whether to raise the minimum wage continues.

    A federal minimum wage of $15 per hour may be closer to reality if Joe Biden wins the 2020 presidential election. It is part of his policy agenda. There are pros and cons to the discussion about the federal minimum wage increase.

    Pros

    The federal minimum wage would be increased to $15 per hour, which would increase the standard of living for minimum wage workers. They would be able to afford rent, car payments and other household expenses more easily. Robert Scott, the chairman of the House Committee on Education and Labor stated that a full-time worker can’t afford a modest two-bedroom apartment in any U.S. county. Senator Bernie Sanders also believes the minimum wage should be $15.

    A second benefit of raising the minimum wage, which is less obvious, is an increase in employee morale. Happier employees will not only result in a more cohesive and productive workforce but could also lead to higher customer satisfaction. Employees who are happy with their jobs and their wages are less likely to leave. This reduces employer’s training and hiring costs.

    Proponents claim that raising the minimum wage to $15 will also benefit women and minority workers. A $15 minimum wage would provide 31 percent of African Americans with a increase and 26 percent for Latinos. A disproportional amount of minority workers live in states with minimum wages of $7.25 per hour.

    Cons

    One of the drawbacks to increasing the minimum wage is that businesses may increase their prices , which could lead to inflation.

    Opponents claim that increasing the minimum wage will likely lead to wages and salaries rising across the board. This would cause substantial operating costs for companies, which would then drive up the prices of their products and services in order to pay these increased labor costs.

    Price increases mean an increase in living costs, which could negate any benefits workers may have from having more money in their pockets.

    A higher minimum wage could lead to job losses. Many business executives and economists agree that labor is a significant cost to do business. They argue that businesses will have to reduce employment to maintain profitability.

    According to the 2019 CBO report, 1.3 million jobs would be lost if the minimum wage was raised to $15 per hour by 2025. These numbers could rise substantially if more companies moved to outsourcing more work to cheaper labor markets.

    A potential negative effect that may not be immediately obvious is the possibility of a higher minimum wages resulting in greater labor market competition for jobs at minimum wage.

    An increased minimum wage could lead to a lot of overqualified workers filling minimum wage positions that would normally go to inexperienced or young workers. This could make it difficult for younger and less experienced workers to get work and gain experience that will help them move up the career ladder.

    The bottom line

    There are many factors to consider when raising the minimum wage. It would give many workers a higher income and a better standard of living, but there are important economic factors that must be considered. Economic conservatives are concerned about the potential increase in inflation and unemployment. They also worry that it will cause more problems.

    Many lawmakers have set a goal to raise the federal minimum wage from $15 an hour to $15. Although increasing the minimum wage will likely lift people out of poverty and improve their work ethic, there are potential negative consequences such as inflation or loss of employment.

    We are certain to see some action on this matter in the near future, regardless of what happens. Over a decade has passed since the last federal minimum wage hike. The movement for a higher minimum wages has grown momentum over the years and strengthened in recent years. We will have to wait and see the future for minimum wage workers in America.

    Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
    Previous ArticleCan College Students Get The Third Stimulus Check? (Latest Update 2023)
    Next Article The Pros and Cons of Allowing Cell Phones in School
    Avatar for Sayan Dutta
    Sayan Dutta
    • Website
    • Facebook
    • X (Twitter)
    • Pinterest
    • Instagram
    • LinkedIn

    I am glad you came over here. So, you want to know a little bit about me. I am a passionate digital marketer, blogger, and engineer. I have knowledge & experience in search engine optimization, digital analytics, google algorithms, and many other things.

    Related Posts

    Best Buy Alternatives
    Lifestyle

    Top 11 “Best Buy” Alternatives for Your Electronics Needs in 2025

    May 11, 2025
    Shampoo-bars
    Lifestyle

    Benefits of Using a Shampoo Bar

    April 21, 2025
    Food & Beverage POS System
    Lifestyle

    Benefits of a Food & Beverage POS System

    April 7, 2025

    Table of Contents

    • Pros
    • Cons
    • The bottom line

    Top Posts

    SOA OS23

    SOA OS23: The Future Blueprint for Scalable, Agile Digital Systems

    May 29, 2025
    Inter vs. Estrella Roja

    Inter vs. Estrella Roja: Full Match Guide and Detailed Stats

    May 29, 2025
    VCWeather

    VCWeather.org: The New Face of Hyperlocal Weather Reporting

    May 28, 2025
    baltimore-orioles-vs-san-francisco-giants-match-player-sats

    Baltimore Orioles vs San Francisco Giants Match Player Stats

    May 28, 2025
    Popular in Social Media
    Anon IG Viewer

    Anon IG Viewer: Best Anonymous Viewer for Instagram

    April 3, 2025
    CFBR

    How to Use CFBR Appropriately? (Pros and Cons)

    September 24, 2024
    EU to Get WhatsApp, Messenger Interoperability with iMessage, Telegram and More

    EU to Get WhatsApp, Messenger Interoperability with iMessage, Telegram and More

    September 9, 2024
    New in Health
    9 Reasons Why People in Their 40s Should Take Daily Supplements

    9 Reasons Why People in Their 40s Should Take Daily Supplements

    April 8, 2025
    Why Put Your Tampons In The Freezer

    Why Put Your Tampons In The Freezer? (Answered)

    November 26, 2024
    WellHealthOrganic Buffalo Milk Tag

    WellHealthOrganic Buffalo Milk Tag: Unveiling Nutritional Brilliance

    November 13, 2024

    google news

    google-play-badge

    Protected by Copyscape

    DMCA.com Protection Status

    Facebook X (Twitter) Instagram Pinterest
    • Terms of Service
    • Privacy Policy
    • Contact Us
    • About
    • Sitemap
    Copyright © 2025 - Read Us 24x7

    Type above and press Enter to search. Press Esc to cancel.