Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Economic benefits of raising the minimum wage
Economic benefits of raising the minimum wage
Economic benefits of raising the minimum wage
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Economic benefits of raising the minimum wage
1. Skylar, Holly. “Raising the Minimum Wage Will Help the Poor.” Social Justice. Ed. William Dudley. San Diego: Greenhaven Press, 2005. Opposing Viewpoints. Rpt. From “Raise the Minimum Wage to $10 in 2010.” Let Justice Roll Living Wage Campaign. 2009. Opposing Viewpoints in Context. Web. 17 Nov. 2013. This article compares the rate of pay in 1960 to what minimum wage workers are making today. The article discusses the minimum wage has not kept up with the current cost of living, and that it is falling behind. A minimum wage increase would help to stimulate the economy, and stop the diversification of the rich and the poor. “Labor conditions detrimental to the maintenance of the minimum standard of living necessary for health, efficiency and general well-being of workers” (Sklar 14). 2. Dorn, James A., and David Cooper. "Should The Federal Minimum Wage Be Raised?" U.S. News Digital Weekly 5.18 (2013): 14.Academic Search Premier. Web. 16 Nov. 2013. This article gives you a yes and no opinion on whether or not the F...
Many people against raising the minimum wage create arguments such as, “it will cause inflation”, or, “ it will result in job loss.” Not only are these arguments terribly untrue, they also cause a sense of panic towards the majority working-class. Since 1938, the federal minimum wage has been increased 22 times. For more than 75 years, real GDP per capita has consistently increased, even when the wage has been
The minimum wage was, as it should be, a living wage, for working men and women ... who are attempting to provide for their families, feed and clothe their children, heat their homes, [and] pay their mortgages. The cost-of-living inflation adjustment since 1981 would put the minimum wage at $4.79 today, instead of the $4.25 it will reach on April 1, 1991. That is a measure of how far we have failed the test of fairness to the working poor.” (Burkhauser 1)
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”
Imagine working under poor conditions for over 40 hours a week to afford basic human necessities only to remain nothing more than a cog in a corporal machine seen unworthy of livable wages. While this may seem unrealistic, it proves as reality for many lower class Americans. Minimum wage has seen a drastic decline in relation to the inflation of living costs, an issue addressed in Lew Prince’s, “The American Dream Needs a Fair Minimum Wage”. In the article, Prince, a business owner, states, “... in 1979, the minimum wage was $2.90 -- that would be $9.50, adjusted for inflation in 2014 dollars”. Even with this information, many americans above the poverty level line argue against an increase in wages. Although opinions often
"When we talk about the kind of folks whose lives will be made better by raising the minimum wage, we're not talking about a couple teenagers earning extra spending money to supplement their allowance. We're talking about providers and breadwinners. Working Americans with bills to pay and mouths to feed."
Minimum wage workers are enthusiastic about Obama’s plan, but small businesses and the unemployed are not so happy about it. This proposal however is a binding price floor, which is a price minimum, in this case, established by the government. This will incentivize more people to search for work while disencouraging firms to hire new workers or even maintain their current ones. This is an example of a surplus. A surplus is “A situation in which quantity supplied is greater than quantity demanded” (Mankiw 7-1c). In this case, quanti...
A federal minimum wage was first set in 1938. The first minimum wage was just 25 cents an hour in 1938. Can you imagine surviving off of 25 cents an hour? Now just over 70 years later the federal minimum wage is now 7.25. The question at hand is the federal minimum wage enough to meet the minimum requirement for a good, happy and healthy life? Some states and cities say no. While a select few states and cities have mirrored the federal minimum wage of 7.25, some states have placed their state or city/county minimum wage marginally higher than the federal minimum wage. So why would some states prefer to have a higher level than required by the federal minimum wage when some state have decided to match or even go below the federal minimum wage level. The answer to this question lies within each state city and county and how they perceive the cost of living in the presiding area. Minimum wage needs a makeover in America despite some of the negative effects that may come along with it. This paper will explore the reasons behind federal and state minimum wages and why some of them differ among states counties and cities across America.
A minimum wage reformation came during the 1960s and 1970s when the retail agricultural and services industries became covered under the minimum wage. By doing this the minimum wage coverage percentage changed from 20 to more than 90 percent in 1975 (Gitis, 2013). This change expanded the net of people who can benefit from the minimum wage. The income inequality during this time was at a low which made the American economy stronger than today.
U.S. Department of Labor. 2014. “History of Federal Minimum Wage Rates Under the Fair Labor
...year’s cost of living. What constitutes cost of living to the federal government and it that assessment being addressed fairly? Minimum wage is too low. The federal government must raise the minimum wage so that the average American will not need to continue to work multiple jobs.
Sherk, James. "What Is Minimum Wage: Its History and Effects on the Economy." The Heritage
Linda Gorman. "Minimum Wages." The Concise Encyclopedia of Economics. 2008. Library of Economics and Liberty. Retrieved April 24, 2014 from the World Wide Web: http://www.econlib.org/library/Enc/MinimumWages.html
Since its inception, the minimum wage has been a hotbed for debate. If today’s leaders could manage to increase minimum wage, millions of families would benefit.
At the semester's beginning, we were assigned with formulating a research argument which would serve as the hallmark assignment for the course. During the selection period, the class was provided various controversial topics to choose from, and then formulate a research argument. After scanning through the allotted paper topics, one stood out the most to me: Should the minimum wage be raised? I ultimately came to the decision to write about this topic because I knew it had been increasingly in the realm of discussion in the months preceding -- especially due to our most recent 2016 presidential election. Here, I outline my approach to the research paper, some challenges I have faced, and the overall impact the paper has had on myself.
"Raising the minimum wage will benefit about 28 million workers across the country. And it will help businesses, too - raising the wage will put more money in people's pockets, which they will pump back into the economy by spending it on goods and services in their communities." -- President Obama