Ambitions and determination are the two main factors that help one through life. Whether it be that they are living in poverty yet happy or simply trying to wealthy as possible.Hence raising the minimum wage is impossible and will never satisfy the entire nation. Making it clear that raising the minimum wage once again is not a wise decision it is rather foolish. Debt and higher taxes are the main effects that will come along with the minimum wage law. Will this cause another economic collapse?
In the year 1938, when President Franklin D. Roosevelt established the Minimum wage it was set to twenty-five cents, bringing with it a major job loss.Twenty-five cents seems like low amount but …show more content…
Landlords have already given their opinions, many believe that they will keep business with their current renters because they now gain more money. No doubt that also both the landlord and renter can end up losing because if the renter gets laid off he loses his financial sustain and the landlord will lose his monthly pay. Lucas Hall,the founder of landlordology.com, said “ raising the minimum wage causes a temporary spike in spending power… Landlords raise the rent as a tenant is willing and can pay more”- but are they willing to pay …show more content…
Even if the nation is already in high debt and unpayable taxes; they still believe that people deserve to be paid more. But where does that money come from? It is believed that half of an employee's annual paychecks will be the money to pay all the taxes and debts. This will create the highest taxes rate in America. All of these factors contribute to yet another Great Depression. In 2011, a CNN poll was taken, in which 50% of voters believed that this catastrophe could happen in the next years. America is already living on borrowed money, why add more reasons to fail as a
In the year 1938, when President Franklin D. Roosevelt established the Minimum wage it was set to twenty-five cents, bringing with it a major job loss.Twenty-five cents seems like low amount but …show more content…
Landlords have already given their opinions, many believe that they will keep business with their current renters because they now gain more money. No doubt that also both the landlord and renter can end up losing because if the renter gets laid off he loses his financial sustain and the landlord will lose his monthly pay. Lucas Hall,the founder of landlordology.com, said “ raising the minimum wage causes a temporary spike in spending power… Landlords raise the rent as a tenant is willing and can pay more”- but are they willing to pay …show more content…
Even if the nation is already in high debt and unpayable taxes; they still believe that people deserve to be paid more. But where does that money come from? It is believed that half of an employee's annual paychecks will be the money to pay all the taxes and debts. This will create the highest taxes rate in America. All of these factors contribute to yet another Great Depression. In 2011, a CNN poll was taken, in which 50% of voters believed that this catastrophe could happen in the next years. America is already living on borrowed money, why add more reasons to fail as a