Tweet on Twitter Should the driving age be raised to 18 from the age of 16 that it currently is in many jurisdictions? It is believed that older teens will make more responsible decisions behind the wheel, but others say that it is inexperience behind the wheel that leads to problems and not age. Here are the pros and cons to consider on this subject.
Maverick September 5, — 1: There are not strong arguments both for and against an increase, and the arguments regarding the pros and cons of raising the minimum wage appear to get more heated as the suggested minimum wage level rises. Pros The primary argument advanced in favor of raising the minimum wage is that it would improve the overall standard of living for minimum wage workers by providing them with a more appropriate income level to handle cost of living increases.
Some proponents of raising the minimum wage estimate a much larger number of individuals and families escaping poverty.
A related potential benefit is a projected reduction in the need for federal and state government expenditures on financial aid for poor and low-income individuals.
An intangible benefit that could translate into tangible benefits for both companies and employees is improved employee morale resulting from higher wages. Increasing employee morale could easily translate into more tangible benefits, such as increased employee retention and reduced hiring and training costs.
Employees who are more inclined to stay with a company longer could benefit from greater advancement, and from an overall reduction in job-related relocation expenses. A boost to economic growth is another potential advantage of increasing the minimum wage, as consumer spending typically increases with increases in wages.
A higher minimum wage would put more discretionary dollars in the pockets of millions of workers, money that would then flow to retailers and other businesses.
Cons Among the disadvantages of increasing the minimum wage is the probable consequence of businesses increasing prices, thus fueling inflation. Opponents of an increase argue that raising the minimum wage would likely result in wages and salaries increasing across the board, thereby substantially increasing operating expenses for companies that would then increase the prices of products and services to cover their increased labor costs.
Increased prices mean a general increase in the cost of living that could essentially negate any advantage gained by workers having more dollars in their pockets. Another projected problem resulting from an increased minimum wage is that of potential job losses.
Many economists and business executives who point out that labor is a major cost of doing business argue that businesses will be forced to cut jobs to maintain profitability. The numbers could be substantially higher if companies made a major move toward outsourcing more jobs to less expensive labor markets outside the country.
One potential negative impact that is less readily apparent is the possibility that a higher minimum wage would result in increased labor market competition for minimum wage jobs.
The net outcome of an increased minimum wage might be a large number of overqualified workers taking minimum wage positions that would ordinarily go to young or otherwise inexperienced workers.
This could impede younger, less experienced entrants to the job market from obtaining work and gaining experience to move their careers forward. Trading Center Want to learn how to invest? Get a free 10 week email series that will teach you how to start investing. Delivered twice a week, straight to your inbox.The debate over raising the federal minimum wage level continues on in , with some proposals pegging the suggested minimum at $10 an hour, and others aiming substantially higher at $15 an hour.
After almost two years of raising chickens in the city, I would say we know the ins and outs pretty well. I’ve spent months putting together this list of the pros and cons of raising chickens in the city for anyone who’s considering it. The debate over raising the federal minimum wage level continues on in , with some proposals pegging the suggested minimum at $10 an hour, and others aiming substantially higher at $15 an hour. The pros and cons of raising the driving age to 18 are often based on accident statistics and facts about inexperience. If the only way to gain experience is to get behind the wheel to drive, then these additional key points must be considered to determine if .
Pros and Cons of Fundraising Methods Consider adding some new types of fundraising to your repertoire. This section will provide you with a brief description of some possible fundraising methods, along with their pros and cons.
the pros and cons of raising the minimum wage Thе debate оvеr raising the minimum wаgе has bееn a hоt tорiс аftеr Prеѕidеnt Obama еxрlаinеd in hiѕ Stаtе оf thе Uniоn Address thаt he intеndѕ tо rаiѕе thе minimum wаgе from $ tо $ реr hour, аn inсrеаѕе оf over 40 percent.
The debate over raising the minimum wage has been a hot topic after President Obama explained in his State of the Union Address that he intends to raise the minimum wage from $ to $ per hour, an increase of over 40 percent. While the President and his supporters claim that this.
Raising the minimum wage on a regular basis helps families keep up with price inflation. Putting more money in the hands of people who will readily spend it helps the economy. Increased wages and spending raise demand and create more jobs. A summary of the pros and cons of raising the minimum wage, the differences between federal and state rates, and initiatives to increase the minimum wage.