http://money.cnn.com/2014/03/06/news/economy/minimum-wage-states/index.html?iid=SF_PF_River
Thursday, March 6, 2014
States Will not Wait for Congress to Raise Minimum Wage
In the article "States Not Waiting for Congress to Raise Minimum Wage" by Emily Jane Fox and published March 6, 2014 explains President Obama's State of the Union address about minimum wage. President Obama encouraged mayors, governors, and state legislators to stop waiting on congress to raise minimum wage and take action. Many states have already begun discussing this and most have decided on a minimum wage of $9.50 or more. I think this is a great idea and will benefit all employees working on minimum wage. This is especially helpful to people who can only get a minimum wage job. But it could also have negative effects like some businesses having to fire people in order to pay employees. Also the decision the President made without congress could have a negative effect on the trust of congress.
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This is good news for those people who can only work minimum wage jobs, but still need to provide for themselves and possibly for their family. But i also agree that there could be downsides in the way businesses will have to manage the amount of employees.
ReplyDeleteI think you are correct in your statement about this having negative effects. Raising the minimum wage by $2.25 may not seem like much but it is. If you think about the fact that everyone has to be paid $2.25 more that adds up. Say if you have 10 employees that work at minimum wage in your restaurant. You now owe them $2.25 more on their paychecks. That is $22.50 which might not fit into you budget. But even on a larger scale think of 1000 or 10000 workers who need $2.25 more. There just might not be money for them.
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