Importance of raising the state minimum wage

From its inception in 1965, Medicare has encountered hurdles such as affordability issues and high spending. Raising the eligibility age for Medicare is one of the initiatives taken to address the issues it faces. Medicare aimed to raise the retirement age. Raising the qualifying age from 65 to at least 67 has resulted in a 5% reduction in Medicare costs (Song, Cutler and Chernew 459). Another stage was converting Medicare into a premium support plan. By putting Medicare on a long-term budget, the burden on children has been eased, making healthcare more affordable for the elderly. Changing Medicare into a premium support plan has made it affordable for the elderly as they have their own share of Medicare budget. Moreover, Medicare has increased the payroll tax rate. An increased tax generates revenue that secures hospital insurance for their beneficiaries. Finally, to meet its challenges, Medicare has raised penalties for health care deceit so as to reduce misbehavior and increase its savings.

As many baby boomers reach their retirement age, the cost of Medicare keeps rising. The Congressional Budget Office (CBO) projects that the expenditure for aging boomers accounts for about 3% of the Gross Domestic Product. On an overall view, the CBO reports that by 2080 it will have shifted to 15%. From the report, baby boomers visit the doctors more and consume more services. They spend more on Medicare resulting into reduced health benefits for all and increased national debt.

In local newspapers, an obituary can be published for any local resident upon death. In developed counties such as the United States, most obituaries in newspapers are of prominent people with high social status. In the 90s, higher social status was related with lower levels of stress and better health. On the other hand, less prominent people were reported to have a higher risk of sickness and death rates. An analysis of over one thousand obituaries in the U.S. finds that death for notable people varies depending on their occupation (Song, Cutler and Chernew 460). Fame may be earned at the expense of a shorter life expectancy or longevity. Famous people are likely to be users of unhealthful substances such as drugs that reduce their life expectancy.

Part 4

Legalization of marijuana is one of the controversial issues facing America today. Although it is illegal in many states, many Americans engage in marijuana related activities. Some analysts argue that legalization of marijuana in all states will help boost the country’s revenue. The government might collect high tax returns from the sale and distribution of this substance across the country. In the medical field, it has been proven that marijuana is effective in treating quite a wide range of health hazards such as epilepsy and post-traumatic stress disorder. The most notable is the treatment of cancer patients whenever undergoing chemotherapy (Sznitman and Zolotov 26). Through the legalization of marijuana, dealers in the substance will face stiffer competition as supplies increase in the market. The increased supply forces would lead to lower value for marijuana thus destroying the cartels created to deal with the substance. Some of these drug cartels are notorious gang groups that deal with robberies and terror activities.

Part 5

The trend in gender equality is seen to be almost the same in all corners of this world. For instance, issues of gender inequality are experienced in both the developed countries and the growing nations. The graphs in education matters are almost linear across the globe (Bush). The gender imbalance is also experienced in the political arena where women are usually considered inferior. However, the trend in this area has changed over the years as powerful nations such as Germany and South Korea having head of states that are females. The gender inequality is also seen in the labor market where the population of female workers is lower when compared to men’s proportion.

Over the last decade, the developed nations are ranked at a better position than third-world countries in matters relating to gender inequality. The main reason is because women in the first-world economies have gone an extra mile to show they have the power (Bush). For example, more powerful female politicians such as Hilary Clinton and Chancellor Angela Merkel keep showing their might in different fields. Such leaders become role models for the others thus leading to the changing trends. The developed countries have also better strategies that involve the female population in economic growth.

One of the reasons why investment in women’s education is not fully tapped is the ever increasing challenges faced in this matter. In most countries in Southern America, Asia, and Africa the misconception that females are inferior in every sector has made girls the last priority when dealing with education matters (Bush). Therefore, stakeholders with this wrong perception opt to invest less in women’s education.

The glass ceiling in the U.S. is still in existence considering the fact that women’s underemployment rate in the country is still higher than in the male’s case despite a downward slope of this graph. Some arguments have been raised that this glass ceiling in the pay structure is persistent since many private employers are still stereotyping female workers as people who need frequent leaves and days off. The society condemns employers who believe in gender-based pay discrimination. Today, women hold top managerial positions in big companies. In the United States, such challenges are addressed in the most efficient way by associations formed to champion for equality such as the American Association of University Women. By 2013, the U.S. was one of the few countries where the rate of college completion was higher in females than in men due to these measures (Bush).

Importance of raising the state minimum wage

Raising the minimum wage would increase the amount of money in circulation. When the lowly paid workers start to earn more than they used to, they will definitely spend extra (Neumark, Salas and Wascher 17). Therefore, economic activities will get a boost so as to meet the increasing demands in the market. To meet these escalating needs, producers might be forced to employ additional workforce so as to increase their production. In the long-run, some people might get into employment. However, there are some companies that will respond in an opposing way especially when the firms are keen to cut down their production costs.

Increasing the minimum wage plays a significant role in raising the living standards of the people. Apart from giving a fraction of the employed population more cash to spend on its welfare, this move helps in growing the country’s economy. A better economic growth is beneficial to every American citizen.

Works Cited

Bush, Mia. “US Women Make Strides Toward Equality, But Work Remains.” 8 March 2016. VOA. 25 February 2017 .

Neumark, David, JM Ian Salas and William Wascher. “More on Recent Evidence on the Effects of Minimmum Wages in the United States.” Journal of Labor Policy (2014): 16-19.

Song, Zirui, David M Cutler and Michael E Chernew. “Potential Consequences of Reforming Medicare into a Competitive Bidding System.” The Journal of the American Association (2012): 459-460.

Sznitman, Sharon R and Yuval Zolotov. “Cannabis for Therapeutic Purposes and public health and safety: A systematic and critical review.” International Journal of Drug Policy (2015): 20-29.