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Argumentative essay on minimum wage debate
Argumentative essay on minimum wage debate
The economic case for raising the minimum wage
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The minimum wage has always been a controversial subject that has more and more people debating about the subject. While the talk about minimum wages are highly popular it is an important subject to get informed about if you’re an employee or employer because it has to deal with your money. What is minimum wage? Minimum wage is the hourly wage an employer can pay an employee for his or her work. While the talk about raising the minimum wage has caused some attention in both negative and positive. Nevertheless, the topic that the minimum wage offers substantial benefits to low wage workers without any negative effects to business owners has a growing view among economists. Currently, the federal minimum wage in Ohio is $8.10 an hour as per part of the Fair Labor Standards Act and some states and cities have raised their minimum wage even higher than that. For example, in New York …show more content…
Also, relieves tax payers from having to support people from various public assistance programs. I believe that the minimum wage should be a raised by the federal to be at least fifteen dollars. The way that the state of Ohio works I believe that people should at least make that much because of all of the taxes that the state of Ohio takes away from them and at least leave them with a wage that can cover many costs of living. However, in the state of Ohio there is a variable income tax rate, which is determined by Ohio state tax legislation. In the state of Ohio the following taxes are withheld from employee’s paychecks. For Example there are many different taxes that many people in the state of Ohio have to pay and they are Ohio Individual Income Tax, School District Income Tax, Fiduciary Income Tax, Real Property Tax, Estate Tax, and Work Tax. Although, the amount of taxes paid depends on the area you live in and what school district you live in and they can get to be
Poverty continues to grow in America. The average minimum wage in the United States is $7.35 an hour- far too low in today’s society. Key expenses, for example, gas and housing prices, have gone up significantly since the minimum wage was last changed in 2007 (Wagner 52). The laws creating the minimum wage were intended to improve the standard of living and decrease poverty. Raising minimum wage is a vital step in decreasing poverty and giving every family the opportunity to survive and succeed. Millions of hard-working Americans are below the poverty line and need an increase in pay. Minimum wage must be raised because it will diminish poverty and assist the working class to support their families.
Imagine a world where you are working overtime, seven days a week, yet your kids are starving. You can’t get the education you need because you don’t have the time and money to afford it, and you can’t change jobs because this is the only one you can get. Unfortunately, this is the reality for millions of Americans living today. The federal minimum wage is too low to help families, and actually mathematically speaking, too low to survive on. The quality of life for minimum wage families is terribly low, and that is unacceptable. As humans, we should be looking after others and helping the poverty come out of their continuous cycle. Raising the minimum wage would not only help families be able to afford a better quality of life, but help them to afford healthy food, get an adequate education, and invest in the necessary health care they need.
Raising the minimum wage to $15 an hour has been extensively debated over the last year or so. Minimum wage is the undermost wage allowed by law to be given to an employee for their services. Introduced in 1939, its purpose was to stabilize the economy, which was healing from the Great Depression. Most importantly, it was designed to protect the health and welling-being of employees. Currently, the Federal Government 's minimum is $7.25 per hour ($14,500 per year). The ones in favor of the increase are saying that it used to be a living wage; however, now it is not and it now needs to be line with changes to the cost of living. In addition, an increase in minimum wage can increase the productivity and decrease income inequality and poverty. On the other spectrum, the ones who are against the increase are saying that the increased labor cost will drive up unemployment, affect small businesses negatively, and cause other workers from different
Minimum wage is a difficult number to decide on because it affects different income earning citizens in different ways. According to Principles of Microeconomics, by N. Gregory Mankiw, minimum wage is a law that establishes the lowest price for labor that and employer may pay (Mankiw 6-1b). Currently, the minimum wage in the United States is $7.25 per hour. For many years politicians and citizens have argued on what should be the minimum wage that would benefit the economy and society in general. A minimum wage was first established in 1938 to increase the standard of living of lower class workers. To discuss what is better for the country and its citizens, people have to understand what is a minimum wage and what are its effects.
Congress created minimum wage with the Fair Labor Standards Act of 1938. The first minimum wage was only 25 centers per hour. Through history the minimum wage has increased a little at a time, umping a couple cents each time. The last time the United States changed the minimum wage was in 2007 which was a large jump from $5.15 per hour to $7.25 per hour. This jump of $2.10 was a large increase. Through the years it is evident that the minimum wage is constantly changing. “. It has averaged $6.60 an hour in purchasing power in 2013 dollars. But it has ranged from a low of $3.09 an hour in late 1948 to a high of $8.67 an hour in 1968(Sherk, J. (2013, June 25).
The minimum wage is a touchy subject in the United States. Many Americans wish for it to be raised, while others believe it should be done away with altogether. Proponents believe that raising the minimum wage will create a ripple effect that will see an increase in wages across the board, and in turn will stimulate the economy as people see increased buying power. Opponents, however, argue that raising the minimum wage will kill jobs, and that lowering or doing away with the minimum wage will result in significant job growth and do away with unemployment (Krugman). Currently, only 21 states have minimum wage laws that exceed the federal minimum. The other 29 sit at or below the Federal minimum (Minimum Wage Laws in the States). It is for these states, and the people in them, that it is important that we work together to raise the minimum wage to one that is fair for workers and their families.
Raising the minimum wage will not only help our economic stimulus but also place less burden on taxpayers. Lifting our workers out of poverty so they do not have to depend on government assistance should be a priority. Let us stop sharing the unequal access to society and equally share our wealth. When people make more money, they also have more to spend and they invest back into local businesses, big or small, helping the economy flourish. Resulting in more quality products produced, happier customers, employees who care about their job and showing up to do it the best they can. Pay our workers a fair minimum wage and let them live a quality life. Let’s raise the minimum wage and give fair pay for
Today the federal minimum wage is $5.15, but should be about $8.50 if Congress had adjusted it for inflation over the past 35 years. While $5.15 may not seen that bad, when factoring in such variables as sky rocketing gas prices, budgets can get pretty tight. David Shepard, a sophomore at Wayne State University, worked at a Meijer Retail and Grocery Superstore for over two years while in high school. At the time Shepard lived with his parents and didn’t have to worry about paying rent or buying groceries, all that he had to pay for was filling up his gas tank and paying for his car insurance. Shepard recalled, “It was all I could do to pay for the basics like gas and bill’s, I barely had any money to have fun on the weekends”. This is only an example of a high school student that can nearly slip by on minimum wage with only a few expenses. There are 1.8 million people in America with children under the age of 18 that would benefit from an increase in minimum wage (Minimum).
Although minimum wage supporters aggressively advocate for a raise in the minimum wage, I believe that we need to remove minimum wage laws if we truly want to benefit American citizens and the economy as a whole. Its supporters often peddle the minimum wage as a means of economic justice to insure that unskilled workers receive a fair, living wage and are not taken advantage of by employers. However, a minimum wage is actually a bad economic policy, veiled in good intentions, that is inefficient in its goal. Ignorant of the harm that such policy creates, minimum wage supporters become drunk on the feeling that they have made a change for good and like an addict hooked on snake oil claimer for more. The minimum wage needs revoking because
Minimum wage is basically a stepping stone for employers. It sets the least possible amount an employer can pay an employee. In a minimum wage model the quantity demanded is less than supplied labor. Minimum wage helps keep these two factors balanced. It is a very important number because it assures that everyone gets payed at least that. Employers cannot pay anyone less than that amount. It is against the law and a fine comes with it.
There has been a lot of talk in the newspaper, political speeches, online and even on the news about how minimum wage should be higher. The minimum wage starts at $7.25-$9.15 depending on what state you live in. A lot of people can’t live on this type of salary and afford to feed their family. Society has felt the increase cost of living and a lot of middle class with no education have a lot of financial difficulties. States say how they are creating jobs, but nothing has been done for those that start out on minimum wage. Wendy Morrison who wrote “Raise the Wage” states that “The decline of Historical Consensus states that there was a substantial divide between public opinion and opinion with the economics profession on minimum wage.” She
In the last years, there has been a controversy over raising the minimum wage. This can be seen in many of the fast food industries, with protest to increase the minimum wage to an average pay of fifteen dollars an hour. Increasing the minimum claims to solve countless economic and social dilemmas. For young Americans that are unemployed, the increase of the minimum wage would be a catastrophic. This type of first step would destroy the future for the young generate, as they would be trapped as a low-skilled American in poverty. For most people, increasing the minimum wage is an idea of gaining more money to bolster a standard living and be above the poverty line. If the minimum wage would ever increase to a staggering number, the supply and demand would decrease, since the employment rate is based on the principle of supply and demand. The higher the cost or services the less demand for the supplies or services, which would lead to an increase of unemployment in America. Increasing the minimum wage could potentially cause many Americans to lose their jobs and still maintain poverty, as the prices for customers amplify as the minimum wage increases.
Raising the minimum wage would have too many negative ripple effects theoretically and realistically. In 2016, online activity for the phrase increased minimum wage reached its second highest point per Google Trends. Politically, socially, and economically minimum wage has both opponents and proponents scratching their heads. Two parties are clear split on the topic and University students should clear stand on one side if they truly care about everyone’s long term goals. Minimum wage should not be increased at the federal level because it rids the taught principles, tarnishes the purpose of having a minimum wage, and due its negative effects on both the present and future.
A minimum wage is an hourly wage that is established by the government, which represents the minimum amount an individual receives per hour. The federal minimum wage was established in 1938 under the “Presidency of Franklin Roosevelt” (Henderson). Currently, the majority of the states have their minimum wage less than $10. However, the federal government wants to increase the minimum wage to $12 across the United States. The federal government believes that increasing the minimum wage will assist numerous people in the United States, as most individuals are working in a minimum wage job to support their families.
All in all, the minimum wage poses many problems and creates unnecessary complications in society. It contradicts free market values and prices out unskilled or inexperienced workers by forcing employers to look for workers with higher productivities. The existence of the minimum wage is full of irony, contradictions, ignorance, and foolishness and should be destroyed as soon as possible.