Advantages And Disadvantages Of Minimum Wage In Taiwan

Introduction Nowadays, minimum wage is very important for workers in this world. In addition, minimum wage is also a core element of public policy in lots of countries. For example, minimum wage has become a hot topic in Taiwan recently. The Taiwanese complained that the working hours are too long, and the wages are too low. Because of that reason, workers in Taiwan have come forward to protest this policy. Therefore, according to this example, minimum wage has become an issue that cannot be ignored anymore, not only in Taiwan but also all around the world. There are many advantages of establishing minimum wage. It is not just a common reference when companies hire new employees but also can help certain families, help with setting small†¦show more content†¦For example, the minimum wage earners in the United States are mostly graduated students or parents who have children to raise. If the government does not set basic wages, they cannot survive in this world (â€Å"The Advantages of M inimum Wage,† n.d.). Secondly, minimum wage can reduce the tax burden. An unemployed person may use too many public services; however, the people who have minimum wage will not. Therefore, reducing the demand for public assistance will reduce the social and national tax burden. If workers have a basic wage, it can reduce the need for public assistance and decrease the tax burden on the societies and nations. The third is employment incentive. Because there is a minimum wage, the workers have goals for their work. They know that if they work hard, they can get the same return. However, if there is no minimum wage, they will worry about the salary. Hence, the workers do not have the energy to work anymore. That is why minimum wage is important, and it also can enhance the workers’ ambition (â€Å"The Advantages of Minimum Wage,† n.d.). The fourth reason is business budgets. Minimum wage can let a company know its own budget and will be expected to be paid per hour. With this information, a co mpany can understand their own expenses better and creates new jobs for the company. The last reason is a common reference. Setting a minimum wage lets a company hire employees more simply. Workers know their salaryShow MoreRelatedCostco : A Competitive Advantage998 Words   |  4 Pagesbelongs to the very short list of companies with a culture so favorable to employees that it gives the company a competitive advantage, and it’s most likely to keep on rising over many decades. Costco sees workers as an asset to invest in, rather than a cost that must be reduced. In the U.S. Costco pays workers an average of nearly $21 per hour, almost three times the minimum wage and about twice as much of what most competitors pay. 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