In the article, "Minimum wage increases in four red states," (Link to Article) it states that in the Republican states of Arkansas, Nebraska, South Dakota, and Alaska the initiatives to raise the minimum wage passed. These four victories might not persuade Congress to pass Obama's proposed federal increase of $10.10 this year, but it could push the Democrat presidential nominee in 2016 to call for an increased federal minimum wage. Alaska workers benefit the most from this increase, for their minimum wage went to $9.75. Nebraska's increased to $9.00 and both Arkansas and South Dakota's minimum wages increased to $8.50.
This could potentially cause many changes to the economy of South Dakota along with all the other states that increased their minimum wages. Many are worried that this increase could result in layoffs and decreased opportunities for jobs in South Dakota. This could also possibly cause businesses to have to shut down. On the bright side, though, hard workers in all of these states will be rewarded and be able to enjoy a higher standard of living. I think that this initiative has both good and bad sides to it. I know that I will definitely enjoy being paid more when this goes into effect, but I also know that it could potentially harm the economy. Hopefully the positive aspects of the increased minimum wage will outweigh the possible negative side-effects.
Although I do understand and appreciate the positives that this new change will bring about, the negatives that have not occurred yet scare me. I'm glad that hard-working people will be paid more, but the potential to cut jobs and/or small businesses, coupled with the increase of prices makes me nervous to see the eventual effects of this new law.
ReplyDeleteI agree that there are negative changes that will occur, but since our country has been steadily increasing the minimum wage, I think that we will be able to deal with the consequences of the law. The idea of a single parent trying to live off the minimum wage is awful. I hope that this change helps the people who need it.
ReplyDeleteI am quite surprised to read that these specific states raised the minimum wage, especially considering the majority party in each state. While I agree that the minimum wage should be raised with inflation, I feel that this may be too much all at once since most businesses in these states (except for Wal-Mart corportion whose headquarters are located in Arkansas) are small and may not be able to withstand such a large change.
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