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, 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. About “75.3 million people ages sixteen and over worked for hourly wages in 2008, according to the U.S. Department of Labor’s Bureau of Labor Statistics” (“Minimum Wage”). Meaning almost a quarter of the workforce of this nation are working a minimum wage job. Numerous people believe that these workers are not able to make their ends meet, and increasing the minimum wage will help these individuals substantially. Even though people believe that increasing the minimum wage will benefit the society, they tend to overlook the drawbacks of increasing the minimum wage, and how it will prove to be detrimental for the society. People believe that increasing Raising the minimum wage will prove to be detrimental as it will take away opportunities from high school students to gain insight and explore different career options. Additionally, it will also reduce the unemployment rate, making it harder for the working poor to meet their basic needs in order to survive. Thereby, raising the minimum wage is not a feasible option because it will only deteriorate situations for the labor
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.
Well, raising the minimum wage has both the pros and cons. Still, the fact that increasing the minimum wage nationwide would increase millions of workers’ earnings is deniable. I suppose that’s why some people advocate raising the minimum wage will grow the economy for everyone. In 2014, the president of the United States, Obama, called on the current Congress to raise the national minimum wage, which proves that Obama actually supports raising the minimum wage. ‘February 2014 Congressional Budget Office Report The Effects of a Minimum-Wage Increase on Employment and Family Income is the latest attempt to do so, in this response to Members of Congress with respect to an increase in the federal minimum wage from $7.25 to $10.10 per hour.’
Minimum wage is a topic that has been popping up since the 1980s. From whether we should lower it, or even raise it, but now in the 2000s minimum wage has been the center of attention more than ever. There are two sides to this topic of minimum wage; whether it creates more jobs or does not create jobs. Those who argue that raising minimum wage will create more jobs will have a rebuttal which is that it does not only cause the loss of jobs but that it would make things much worse and vice versa for those arguing raising minimum wage will cause loss of jobs. There will be two authors representing opposite views, Nicholas Johnson supporting minimum wage will not cost jobs with his article “ Evidence Shows Raising Minimum Wage Hasn’t Cost Jobs”
Currently, in the United States, the federal minimum wage has been $7.25 for the past six years; however, in 1938 when it first became a law, it was only $0.25. In the United States the federal minimum wage has been raised 22 times since 1938 by a significant amount due to changes in the economy. Minimum wage was created to help America in poverty and consumer power purchasing, but studies have shown that minimum wage increases do not reduce poverty. By increasing the minimum wage, it “will lift some families out of poverty, while other low-skilled workers may lose their jobs, which reduces their income and drops their families into poverty” (Wilson 4). When increasing minimum wage low-skilled, workers living in poor families,
Although raising the minimum wage won’t eliminate poverty as poverty can never be eliminated. It could help with lowering the poverty rate. The “inactive” unemployed Americans lack motivation, because they can’t support themselves with the money earned. It simply is not enough. As the cost of living rises, minimum wage stays stagnant. This is not balanced at all. If minimum wage back in 1968 was doable, raising it now could not kill the economy. Increasing the minimum wage could be an incentive for workers to finally seek jobs again; prompting growth in the economy and lower down poverty levels in many ways. The quality of a job is just as important when creating quantity of jobs. What lacks in the U.S right now is the incentives to make Americans want to do better. Raising the minimum wage could stimulate the desire to work and get around, possibly pursuing more education to climb the ladder to get higher in the economic
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.
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.
The definition of Minimum Wage is “an amount of money that is the least amount of money per hour that workers must be paid according to the law” (Minimum wage). Minimum wage, like other laws, are used to keep the economy in line. Minimum wage laws were invented in Australia and New Zealand with the purpose of guaranteeing a minimum standard of living for unskilled workers. (Linda Gorman) Minimum wage puts a price on the services one offers. Many different principles can be used to explain Minimum wage and explore the different aspects of it. Including what minimum wage does for our economy and the current status of it.
There are indeed risks of raising the minimum wage, but the rewards outweigh those risks, so the minimum wage should be raised. Some people who are against this may say ...“But other economists say raising the minimum wage actually hurts the very people it's designed to help: One of the basic laws of economics is that if you raise the price of something, there will be less demand for it. In this case, if you raise the price of workers, the demand for workers will decline. That could mean companies cutting the hours of employees, laying them off, or hiring fewer workers in the future.”... Yes, it could hurt the people it is designed to help, but different states have done this and found the opposite to be true. With America’s still fragile economy we need a boost, a helping hand; And this could be it. So next time you go down to vote on a mayor or maybe even the next president, remember that raising the minimum wage is a good thing, and you should be supporting
What is minimum wage, and why should it not be increased? Per Dictionary.com, Minimum wage is the lowest wage payable to employees in general or to designated employees as fixed by law or by a union agreement. Minimum wage should not be increased past the equilibrium of the economy for many reasons. If increased, numerous complications will arise. For starters, due to inflation employers will begin to lose customers, causing them to raise the prices of their product. Moreover, employers are more likely to reduce the amount of employees they have, as well as the amount of hours their current employees work. There will not only be a reduction in the amount of low wage workers but in higher wage workers as well. Higher wage workers will begin to demand an increase in their wage due to an inflation in the economy. Another disadvantage would be the lack of importance in gaining a college degree, or even graduating high school, due to being supported by a minimum wage job. Raising the minimum wage may initially benefit those who live in poverty. However, ultimately the disadvantages
Raising the minimum will end up hurting Americans more than helping them. The people that are for raising minimum wage are people who believe that increasing minimum wage can help those people who are unskilled and need an income they can live on. Yet, raising minimum wage would do the opposite and make employers have to fire people who earn minimum wage, because they can't afford the higher wages. People need to realize that increasing the minimum wage would hurt people more than help them. In the end increasing minimum wage would result in some people being let go, for the reason, businesses can't afford paying them minimum wage anymore.
There are opportunities to better the economy of America. Raising the minimum wage is one of those opportunities. Raising the minimum wage can have a positive effect on the country. The minimum wage is not where it ought to be. The minimum wage was higher in the 50’s and 60’s in today’s dollars than it is now. With an increase in minimum wage, people will make more money when working low income part-time or full-time jobs; giving workers more financial stability. The paychecks and yearly salaries of the average low income American family would began to rise. It is an advancement in a conclusively good direction, but it will take time and progressive steps towards a better minimum wage that meets the cost of the necessary standard of living.
Minimum wage is the lowest hourly pay employers are legally able to pay their workers. In United States there is huge debate on whether or not to raise the current minimum wage rates from seven dollars and twenty five cents per hour. States are leading push to increase the minimum wage by Democrats who appeal to working class Americans. Congress want to increase minimum wages above seven dollars and twenty five cents. The issues of whether to raise the minimum wage or not.
Minimum Wage is the base hourly amount that employers are permitted to pay their workers. The current Federal minimum wage is $7.25 per hour. There are several exemptions to both federal and state minimum wage laws, including employees who receive tips, students and minors, and several others. Many people think that this is too low of a price. Minimum wage effects the lives of people very much.
Raising the minimum wage will improve the overall living conditions/standards for minimum wage workers. For someone working under minimum wage income, they need to work twice as many hours than higher payed counterparts for items needed for life. Having to work double to afford certain things such as rent, utility bills, and other items that are essential for life. In working a regular 40-hour week, a minimum wage worker does not have the ability to pay for a two-bedroom apartment or food without requiring some form of government assistance such as “food stamps”. Many would be pushed past the poverty line with not having to worry on how they are going to be able to afford items that they need.