...Raising the minimum wage will not help the economy but hurt it Rough Draft Jody Dunham Course Name (i.e. EN102 English Composition II) Mrs.Romera 09/05/2014 Miller-Motte College Online Programs Raising the minimum wage will not help the economy but instead put more people on state assistance. When looking into a few resources about the effects the minimum wage raise will have on the economy I have found some pretty devastating results that show how the economy will pay for this so call raise. The one that everyone thinks will save us all from an economic collapse. If you raise the minimum wage you must also raise the cost of living to match the pay increase. Here, I show you an example of this “Fast food restaurants would have to raise prices by nearly two-fifths. This would cause sales to drop by one-third and profits to drop by over three- quarters.” (Shark, James) “As it is the minimum wage is already $3.30 less than it was in the year 1968, and the data does not reveal a significant link to unemployment.” (Cassidy, John) However, this is with the minimum wage as it sits now without a marginal increase. If it increases dramatically the cost of living increases dramatically too. As with any situation when you spend more you must pay for it from somewhere else. “The higher wages are not free money. The increased cost must either be absorbed by either an employer, which is impossible for an employer who already operates on a shoe string profit margin. Otherwise...
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...Sarah Moll Mrs. Knierim CA 102 October 21, 2011 Minimum Wage and the Fight to End Multigenerational Poverty Everyday we see poverty stricken people begging for money on the side of the road. Upon seeing them, various thoughts cross our minds: Why do they not go out and get a job? Why are they wasting their time begging for money instead of looking for work? Are they really poor or do they just want to get my money? Are they really going to spend my money buying food or are they just going to buy cigarettes, alcohol, or drugs? Are they just being lazy or can they really not get a job? Though each person’s case is different, many of these people are truly so poor that neither they nor their families can survive without handouts from generous people passing by. There is no accurate or reliable way to tell if these people are genuine in their need, so it is up to the individual as to whether or not they choose to give these people aid. In answer to the ever-present question of why these people do not go out and find jobs is many times quite simple – they simply cannot. In order to get a job, one must have references; however, in order to get references one must have had a good job to provide these references. Also, one must go through the interviewing process before one can acquire a job. This is quite challenging for someone who has no place to shower and no clean clothes to wear. In addition, one must know how to behave and interact in an interview, something that many of those...
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...Homelessness in America seems to happen with alarming frequency. Homelessness affects millions of Americans each year, with approximately one third of the population suffering from severe mental disorders. It is a devastating experience for families. Every year, the United States conduct an enumeration of homeless people around the nation. These reports of homeless people conducted by the National Alliance to End Homelessness are based on the definition set by the United States Department of Housing and Urban Development (HUD), in what is commonly known as a “point-in -time” count. Point-in-time counts are the only measure that captures unsheltered persons experiencing homelessness. Last year's point-in-time count is the most recent national estimate of homelessness in the United States. As of January 2013, the national count of unsheltered people experiencing homelessness decreases by 11.6% between 2012 and 2013. There is a common misconception that homelessness is an issue that only pertains to single men and women, but in reality over 600,000 families a year will experience homelessness. The problems of family homelessness are not solely restricted to urban areas; rural area and suburban communities are increasingly plagued by the problem. The three main reasons for the abundance of dispossessed families within America are the following: 1) the lack of affordable housing, 2) poverty, and 3) mental illness. In today's society, these causes are the main contributors towards...
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...Macroeconomics in Unemployment Kimberly G Business, Government & the International Economy January 23, 2013 Abstract Macroeconomics in Unemployment With the economy struggling unemployment is a term that we have come to hear far too often over the past several years. Everywhere you turn millions of people are struggling to find some type of work. Those that are jobless find often themselves losing their sense of self respect, purpose, and income. Many of them will have their homes and cars repossessed. Sadly enough it is not just the individuals themselves that are hurt, their families also struggle along with them. Many people in today’s society think that unemployment does not affect them. The sad truth is that unemployment affects everyone on several different levels. The government is affect by benefit to be paid out and loss of tax earnings, businesses are affected by less spending, the unemployed face loss of ability to survive, and in general every working individual has to pick up the expenses through their taxes (McClelland & Macdonald, 1998). What is Unemployment and The Causes To understand how unemployment affects society one must first understand what defines a person as being truly unemployed. Unemployment is defined as when individuals do not have a job and they are able, willing, and seeking some form of work (Tucker, 2001). Not everyone that does not have a job is included in the unemployment numbers. Some of these people include full time students...
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...builds best when called upon to build greatly”. Although this great democratic country has had bleak periods in its economic history timeline because political, money, and wars through-out time. However, Americans recuperate their path back to brilliant and fascinating rich economy. It is not easy to do so, to get back into good economical shape, however it is feasible. In the 20th century, ending of the 1920’s a severe worldwide economic depression ever experienced in the industrialized force. Although the Great Depression commenced in the United States, it spread over to 15 countries to say the least. Causing gargantuan unemployment rates ever recorded in America and Europe. Moreover, it stroked partially Japan and Latin America. The devastating economy deficiency went on to reach its peak point until 1933, which marked the year that America started to recovery, but went on for almost 7 more years. Approximately lasting till 1939. After this awful period, another, but not as large compared to the Great Depression. In the early 1980’s the country experienced another recession causing yet again employment lack and GDP (gross domestic price) to rise, causing stuff to be more expensive and with jobs being cut down, Americans were struggling once again to brighter times. Following through on America’s economic timeline, there is one more recession in economy. This particular recession even has alias names like; Lesser Depression, the Long Recession, or the global recession of 2009...
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...ACCT 530 Tax-Advantaged Retirement Plans April 30, 2014 An important part of tax planning includes planning for retirement. There are many different types of plans available, some with immediate tax benefits and others with deferred benefits. Effective retirement planning should begin as early as possible; and continue through the remaining work life expectancy. The ability to save for retirement as well as the timing and risk of investments factor into which retirement plan(s) an individual should utilize. This review will analyze various types of plans and include the prevalence of these plans, as well as the tax savings or cost to the federal government. There are several major sources of retirement income for the retired, including Social Security, employment based pensions and annuities, part-time work, and personal savings and investment. According to the Employee Benefit Research Institute, nearly 90% of all retirees receive some type of benefits from Old Age, Survivors and Disability Insurance (OASDI), or Social Security. This is the largest source of income and accounts for 40% of all income during retirement. These benefits are extremely important for the lower income population, who rely on Social Security for nearly 90% of their income. In fact, 21% of retirees rely solely on these benefits. The highest income population relies more heavily on earnings, with Social Security, pensions, and investments accounting for approximately 20% each of their remaining...
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...Jnae Young Professor Leigh Ann Christian English 101 Teen pregnancy is now an epidemic in the United States; teens are having unprotected sex knowing the repercussions and consequences of it. “Nearly one million teen girls get pregnant each year. Nearly four out of 10 young women get pregnant at least once before they turn 20.1 Each year the federal government alone spends about $40 billion to help families that began with a teenage birth (Statistics ).” This new social phenomenon is spreading widely and becoming a calamity. The consequences of teen pregnancy are devastating. Some parents are left to raise kids on their own as single parents, and some teens have to drop everything and do not even get to finish high school. Children born to teen parents have higher rates of foster care placement, teen parents struggle with finance issues, and it is more likely for babies to be neglected when born to teen parents. Abstinence of course is the number one prevention method for teen pregnancy, which is the only method that is one hundred percent effective. If tens just waited until they were older, instead of having sex so quickly there certainly would not be as many teen mothers. The reality of the situation at hand is that teens are having sex and at very young ages, do not use contraceptives and get pregnant. One real common cause of teen pregnancy, that being unprotected sex. Teens are not using contraceptives as much as they should and some not at all; the reasoning behind...
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...Employee Turnover-a Study of its Causes and Effects to Different Industries Abstract Productivity is very important issue for an industry or organization. There are several factors on which productivity of an organization mostly depends upon. Employee’s turnover is one of them which is considered to be one of the challenging issues in business nowadays. The impact of turnover has received considerable attention by senior management, human resources professionals and industrial psychologists. It has proven to be one of the most costly and seemingly intractable human resource challenges confronting by several organizations globally. The purpose of this research is therefore, to find out the actual reasons behind turnover and its damaging affects on the productivity of different industries in Bangladesh. The authors of this paper were visited and studied several local industries both from government and non-government sectors in Bangladesh and observed the suffering for turnover problems. The objective of these case studies were to find out the actual reasons of turnover, its negative effects and possible recommendations that could be helpful to the local industries for their productivity and market share. Keywords: Turnover, Job satisfaction, Industrial regulation, Productivity. working environment in job place. To provide these things to the employees in an economic way is very difficult and cumbersome. But it is also crucial for any organization to retain its talented employees...
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...longest, deepest, and most widespread depression of the 20th century. In the 21st century, the Great Depression is commonly used as an example of how far the world's economy can decline. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by approximately 60%. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as cash cropping, mining and logging suffered the most. Some economies started to recover by the mid-1930s. In many countries, the negative effects of the Great Depression lasted until after the end of World War II. Start Economic historians usually attribute the start of the Great Depression to the sudden devastating collapse of US stock market prices on October 29, 1929, known as Black Tuesday; some dispute this conclusion, and see the stock crash as a symptom, rather than a cause, of the Great Depression. Even after the Wall Street Crash of 1929, optimism persisted for some time; John D. Rockefeller said that "These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again." The stock market turned upward in early 1930, returning to early 1929 levels by April. This was still almost 30% below the peak of September 1929. Together, government and business spent more in the first half...
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...his campaign due to him losing his own state Florida against now President-Elect Donald J. Trump. Apparently due to his devastating lost at time made the decision he would not run for reelection for his congressional seat, many when he was questioned whether he’ll run for the governor, would he accept Vice President if offered by Trump, and would run again for his congressional. Eventually you’ll see him finally giving reply to reporters that question and would answer with I’m not running for those elected offices, but I’m running to become the next President of the United States and won’t settle for anything other than that elected offices. Inadvertently, he would later change his tune due pressure from his fellow Republican colleagues, because they could potentially lose the open seat to Patrick Murphy thus allowing the possibility of Democrat gaining more control of the...
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...Bangladesh is a source and transit country for men, women, and children subjected to trafficking in persons, specifically forced labor and forced prostitution. A significant share of Bangladesh’s trafficking victims are men recruited for work overseas with fraudulent employment offers who are subsequently exploited under conditions of forced labor or debt bondage. Children – both boys and girls – are trafficked within Bangladesh for commercial sexual exploitation, bonded labor, and forced labor. Some children are sold into bondage by their parents, while others are induced into labor or commercial sexual exploitation through fraud and physical coercion. Women and children from Bangladesh are also trafficked to India for commercial sexual exploitation.Human Trafficking In Bangladesh Bangladeshi men and women migrate willingly to Saudi Arabia, Bahrain, Kuwait, the United Arab Emirates (UAE), Qatar, Iraq, Lebanon, Malaysia, Liberia, and other countries for work, often under legal and contractual terms. Most Bangladeshis who seek overseas employment through legal channels rely on the 724 recruiting agencies belonging to the Bangladesh Association of International Recruiting Agencies (BAIRA). These agencies are legally permitted to charge workers up to $1,235 and place workers in low-skilled jobs typically paying between $100 and $150 per month. According to NGOs, however, many workers are charged upwards of $6,000 for these services. A recent Amnesty International report on Malaysia...
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...The Great Depression was an economic slump in North America, Europe, and other industrialized areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world. Though the U.S. economy had gone into depression six months earlier, the Great Depression may be said to have begun with a catastrophic collapse of stock-market prices on the New York Stock Exchange in October 1929. During the next three years stock prices in the United States continued to fall, until by late 1932 they had dropped to only about 20 percent of their value in 1929. Besides ruining many thousands of individual investors, this precipitous decline in the value of assets greatly strained banks and other financial institutions, particularly those holding stocks in their portfolios. Many banks were consequently forced into insolvency; by 1933, 11,000 of the United States' 25,000 banks had failed. The failure of so many banks, combined with a general and nationwide loss of confidence in the economy, led to much-reduced levels of spending and demand and hence of production, thus aggravating the downward spiral. The result was drastically falling output and drastically rising unemployment; by 1932, U.S. manufacturing output had fallen to 54 percent of its 1929 level, and unemployment had risen to between 12 and 15 million workers, or 25-30 percent of the work force. The Great Depression began in the United States...
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...ECONOMICS IN ONE LESSON by Henry Hazlitt Nobel Laureate in Economics, F.A. Hayek said in 1974 about Hazlitt‟s book: “It is a brilliant performance. It says precisely the things which need most saying and says them with rare courage and integrity. I know of no other modern book from which the intelligent layman can learn so much about the basic truths of economics in so short a time.” (Back cover) “This book is an analysis of economic fallacies that are at last so prevalent that they have almost become a new orthodoxy....its effort is to show that many of the ideas which now pass for brilliant innovations and advances are in fact mere revivals of ancient errors, and a further proof of the dictum that those who are ignorant of the past are condemned to repeat it.” (pp. 9-10) “As Morris R. Cohen has remarked: „The notion that we can dismiss the views of all previous thinkers surely leaves no basis for the hope that our own work will prove of any value to others.‟” (interior quote: Reason and Nature (1931), p.x.; Hazlitt, p.10) “It is the beliefs which politically influential groups hold and which governments act upon that we are interested in here, not the historical origins of those beliefs....Fallacies, when they have reached the popular stage, become anonymous anyway.” (p.11) The Lesson: “Economics is haunted by more fallacies than any other study known to man. This is no accident.” (p. 15) “While every group has certain economic interests identical with those of all groups, every...
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...Production and Operations Management Introduction Improving the operations of a company that will enhance productivity and product quality may not only certainly benefit a company’s bottom line, but can also benefit national interests. Marathon Oil, for example, is the United States’ “fifth largest transportation fuel refining company and the largest in the Midwest” (“Corporate Profile”). This Findlay, Ohio based company’s operations “include a six-plant refining network, a comprehensive terminal and transportation system, and extensive wholesale and retail marketing operations” (“Corporate Profile”). Marathon’s six refineries have a total refining capacity of 1.142 billion barrels per day and provide the United States with approximately seven percent of its total capacity (“About MPC”). Marathon sells 4.1 billion gallons of gasoline each year that are then distributed to over five thousand independently owned and operated Marathon locations (“About MPC”). Marathon owns Speedway, the fourth largest convenience store chain in the U.S. Speedway not only sells gasoline but also sells food and beverages and a variety of other products in one of its 1350 locations scattered throughout the Midwest (“About MPC ”). To be sure, examining Marathon’s overall product process and identifying those phases which might be improved could result in more efficient refining and distribution of the United States’ life blood: transportation fuels. Efficiency improvements to Marathon’s...
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...its fullest expression. A model of progressive reform was Robert La Follette’s term as governor of Wisconsin. He won from the legislature an anti-lobbying law directed at large corporations, a state banking control measure, and a direct primary law. Taxes on corporations were raised, a railroad commission was created to set rates, and a conservative commission was set-up. In state after state, progressives advocated a wide range of political, economic, and social reforms. They urged adoption of the secret ballot, direct primaries, the initiative, the referendum, and direct election of senators. They struck at the excessive power of corporate wealth by regulating railroads and utilities, restricting lobbying, limiting monopolies, and raising corporate taxes. To correct the worst features of industrialization, progressives advocated worker’s compensation, child labor...
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