The Pros and Cons of Increasing the Federal Minimum wage.
Increasing the federal minimum wage could result in a net job loss of
approximately 500,000 workers (0.3%) (as the CBO states 0 percent impact on
employment is a reasonable trade off), although it would mean increasing
wages for 16.5 million others.
According to the Congressional Budget Office, 2 positive effects would occur
by increasing the minimum wage which would be: It would increase the family
income for 16.5 million, and for approximately 900,000 of these workers they
would be lifted out of the federal poverty bracket.
The negative effects would be for the same said workers would be the
elimination of some jobs.
This is a "for the greater good" argument - are there more that would benefit
or more that would lose from this minimum wage increase? If you look at it in
those terms of black and white it appears it will be more of a positive than a
negative.
The proposal is to raise minimum wage from the current $7.25 an hour to
$10.10.
As a group, workers with earnings being increased would be paying more in
taxes and receive a reduction in federal benefits, however the trade off is
those few (in relation to those receiving a wage increase) who do lose their
jobs would pay less in taxes and have their federal benefits increased -
nullifying the positive and negative effect either way, in that respect.
Therefore, since it is estimated more people would be being positively
effected (16.5 million) versus those who would lose their jobs (500,000), the
wage increase appears to be something to be supported.
Republicans that are against this seem to have an insecurity issue. Does
supporting the lower income workers somehow threaten their elite salary
status? Does oppressing those who are already repressed somehow make
them feel more powerful?
This is an issue of wealth redistribution that seems fair, but the wealthy are
constantly wanting lower taxes - so they want to obtain their wealth and
continue increasing their income - it sounds like greed to me!
The world is a better place when everyone is happy - when equality is a goal
to be achieved, not something to avoid. We should not be striving to make the
gaps between income levels larger - but working to bring everyone closer
together.
What the wealthy seem to forget (often conveniently) is that where they came
from often supports where they end up. The wealthy will say that they have
worked hard for what they have and for what status they have achieved in life,
however, they fail to recognize to themselves and others that they were
brought up in a very conducive environment to allow their success to be
realized.
Often those that have come "from nothing" and have made something of
themselves - who have achieved a high status in the world - do not embody
the attitude that those who have come from nothing and have not achieved
great things should be further oppressed - but generally support the very
programs and services that allowed them to achieve the income and social
standing they are currently enjoying. Generally these people that have
achieved great things despite their background are very grateful and wish to
encourage and support those that came from the very beginnings they did.
It is very easy to live in a bubble when you are wealthy and forget about those
who are less fortunate than you are, but that is not a very "American" stance
is it? Aren't we "the land of opportunity"?
Republicans seem intent on highlighting that the focus should be on creating
not destoying job opportunities - but this seems just a convenient argument. If
they really cared about those less fortunate - why would their platform
generally always be about decreasing funding to social programs that
support the less fortunate? About increasing taxes for the poor and
decreasing taxes for the rich?
Personally, as our household income has increased throughout the years our
party idenitifcation could much more lean to the right, but morally and
ethically I cannot allign myself with a party that seems to want to keep those
that are at the lower end of the income bracket continually oppressed.
Equality is very important to me in all forms - racial, gender, sexuality, and
income. I enjoy seeing those less fortunate and who have come from meager
beginnings rise up and thrive - and if I can assist them through direct contact,
or taxes, or by being on the supporting end of passing laws that make it
easier for them to make something of themselves despite their humble
background then I'm all for it.
As House Minsority Lader Nancy Pelosi, D-California has stated, "It's time to
give America a raise" and I have to agree with her.
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