ESSAY- Global Societal Problem Discussion
Michael Hurrigan
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GEN 499 General Education Capstone
Lisa Raymond
July 18th, 2022
R. Pollin, J. Wicks-Lim (2015). How the fast-food industry may adapt to a $15 US minimum wage without eliminating jobs.
This article focuses on the $15 minimum wage, its effects on the fast-food business, and other contemporary issues. The study discovered that firms could adjust and avoid deciding whether to lay off workers continuously by increasing salaries yearly. The study also identified many strategies that organizations might use to absorb costs without having to reduce their overall profitability significantly. This topic is crucial, and other studies have focused on its argument since it covers various aspects of the potential drawbacks of raising the minimum wage. The fast food industry was studied and used as the research subject. This is due to the fact that practically all entry-level job prospects in the economy are connected to the fast food industry. Therefore, the main focus of this interesting debate and analysis is on data from a recent study rather than just theory.
The Minimum Wage Mythbusters (2015) by the U.S. Department of Labor.
September 7th, 2017. Web.
ESSAY- Global Societal Problem Discussion
The United States Department of Labor released this study or article online. This study lists potential pay hike fallacies along with the justifications for their debunking. The paper also tackles typical concerns, such as how a rise in the minimum wage will affect small businesses rather than big businesses like McDonald’s. The most unexpected fact is that three out of every five small company owners support raising the minimum wage to $10.10 an hour. Many others also think that this will be helpful because it will improve consumers’ purchasing power. In addition, a letter supporting raising the minimum wage to the level mentioned earlier was endorsed by 600 experts. This is a reliable source because the United States Department of Labor, a recognized government agency, conducted the study. Eric Lipton is A web of industry ties is illustrated by the fight over the minimum wage. a New York
September 2017. Times. Web.
This post was found on the internet and is mainly intended to inform readers about the debate over raising the minimum wage. This article amply depicts how liberal and conservative groups have consistently worked to promote the idea of raising the minimum wage.
To get the United States of America to pay attention to their opinions, the groups support lobbying campaigns with corporate lobbyists and labor unions. The article further demonstrates a dispute over whether raising the minimum wage to 40% per hour over two and a half years would decrease poverty or increase poverty levels. Lipston goes on to include comments and viewpoints from members of Congress and employees of the Employment Policies Institute regarding raising the minimum wage. This provides solid and reliable data in favor of raising the minimum wage.
Hall, David, and Cooper, David (2012). How helping working families and boosting the economy would result from raising the federal minimum wage. Issue Brief, 341, by the Economic Policy Institute.
This essay examines the rise in the nation’s minimum wage and its effects on various regions of the economy. To raise the minimum wage and the tipped minimum to $9.80 an hour, the Rebuild America Act was sponsored in Iowa in 2012. According to the author, this would be beneficial for American workers who are still feeling the consequences of the recession. An increase in the minimum wage would provide employees with more disposable income. This would stimulate the economy, which would eventually result in growth, which would then promote economic progress. The number of people and families impacted by the federal minimum wage continues to grow each year, as seen in the graphs provided in the article. The premise is that if low-wage workers’ pay were raised, they would be more inclined to spend their money. Therefore, growth would result from this stimulating the economy. Little, Anna “An Increase in the Minimum Wage Would Reduce the Income Gap, but Political Risks.”
September 7th, 2017. The New York Times Web.
To address the levels of economic equality regarding the minimum wage, this article pulled from the web was written for the general public. According to statements in the report from the White House, President Obama, and House Speaker John A. Boehner, raising the minimum wage will benefit low-income people without putting an undue burden on businesses or driving up the unemployment rate. According to data provided by the White House, an increase in the minimum wage of between 10 and 20 percent would roughly offset the rise in income inequality since 1980. Lowrey discusses these figures. Obama’s claim that raising the minimum wage will boost the salaries of many working families was also provided by the author. Customers will have more money in their pockets, which is good news for businesses. As a result, this is a reliable source of information about raising the minimum wage.
Thesis: Raising the minimum wage benefits low-income workers, families, and companies more than other groups, and it stimulates the economy by incentivizing spending, which results in growth.
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