I noticed that a lot of people do not live up to standard as they have to live paycheck to paycheck, some of them owing debt before getting their next pay, then I ask myself, are people who receive paychecks really living well?
What is a paycheck? It I the stipends, salary, or wages given to a person for the work or value added to the creation, delivery, and distribution of goods and services in an institution thereby allowing the institution to grow and perform well. Entrepreneurs, business owners and other employers most cases are not at fault when they pay their employees a particular amount most especially the minimum wage but the truth about it is that the business isn’t as big as it is meant to be and it is not possible for one person to attend to all the needs of customers in the business.
A lot of people get paid wages that aren’t enough to carter for their expenses but at the same time, they need to get money to attend to a few necessities. The government can actually swift into action and deal with employers who do not pay their employees well but a few things needs to be considered.
The GDP of the country is affected by the total spending in the country and small business make a very large impact in this. Every bit of money that exchanges hands between the small businesses which cannot afford to pay their workers well and disrupting this businesses because they are not paying up to the required paycheck will affect the GDP of the country.
Disrupting the businesses of this small and medium businesses which cannot afford a good paycheck means that both the entrepreneur and the employee losses, as the employer losses his business, while the employee losses his paycheck. A few people are contract workers and they get paid a fraction of the required pay, so what happens when the contract are canceled because the company cannot pay required wages, that means the employees would be left to starve and not be able to go one with their living expenses.