Should the Federal Minimum Wage be Increased? Have you ever thought that you wanted a raise at work but did not have reasons? In this essay you can give your boss these reasons and get more money. The minimum wage in 2012 was $7.25. The minimum wage is a large-scale reason of poverty.
Fighting Poverty Poverty has caused depression, starvation, and disease. Would raising minimum wages help eliminate this cause of American deaths? Minimum wage is the least amount of money someone can receive for their labor. Facts from research show that it is possible to decrease the amount of people in poverty by raising minimum wage, however, raising minimum wage without raising inflation would hurt businesses because they would be losing money. Instead of raising the amount workers get paid, the government could limit to how much the wealthy man can earn.
Should Federal Minimum Wage be $15 an hour? The Fair Labor Standards Act of 1938 states that workers will be given a livable wage. By definition, a living wage is the minimum income necessary for a worker to meet basic needs. In the words of congress, it is “the minimum standard of living necessary for health, efficiency, and general well-being.”
Many of the minimum wage workers who had been functioning in poverty would still be functioning in poverty because the cost of living would be elevated too. In the past when the national minimum wage was raised there was virtually no effect to people living in poverty. Some people might say that the talk about higher minimum wage is sparking hope in the workers. If a worker has a chance to earn more wages then they will work better so that they do get that raise; however, more people will lose their jobs because not as many people will get to work if others are making higher wages.
In the past three years, many politicians and labor unions have been pushing for an increase in minimum wage. Minimum wage is the lowest set wage by a law of a government body. An increase in minimum will benefit some people, and hurt others. An increase in minimum wage will cause benefit in the short run but will be very damaging to the economy in the long run. There should not be an increase in minimum wage because it is unhealthy to the economy in the long run and it will be the major cause of job loss, increase in inflation, competition, and the price level of goods and services.
Many people would not want to work for less than a dollar an hour. The purpose of minimum wage is to prevent this. Minimum wage has been a widely debated topic since it was introduced back in 1938 because many people are paid minimum wage, and it is some families incomes. The minimum be raised to benefit both workers and employers.
When the minimum wage is raised, workers are priced out of the market and many of them lose their jobs. The U.S should not raise the minimum wage because there would be a major loss in jobs which would be very hard for the unemployed to maintain their
Although a minority of workers will experience pay raise or may even be brought out of poverty, the majority of workers would face unemployment and, if not that, would only be allowed to work for a short period of time in order for their bosses to compensate for the raise in mandatory pay. Also, some economists dispute that raising the minimum wage will have little to no effect on poverty rates altogether. For these reasons, I do not believe the minimum wage should be
The first reason we need to raise the minimum wage is because a lot of people will benefit from it. Most people say that raising the minimum wage will just come back to bite us. But if we have enough places do it we will balance the economy out Another
Since the Great Depression, there has been a minimum wage in America, but this minimum wage has changed 22 times since the Great Deprnbession. Many people say minimum wage should stay at $7.25 like it has been since 2009. Meanwhile, other people believe that minimum wage should be $15.00 so they can have more money to live comfortably. People think that a higher minimum wage will help, but it will hurt more people than it will help. If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out.
Minimum wage would raise the wages of many workers and increment benefits what disadvantaged workers. An estimated 6.9 million workers would receive an incrementation in their hourly wage if the minimum rage were raised to $10.15 by 2015. Due to the spill over effect the 10.5 million workers earning up to a dollar above minimum wage would withal be liable to benefit from an incrementation. Women are the most astronomically immense group of beneficiaries from a minimum wage increase. Sixty percent of workers who would benefit from an incrementation are women.
One major pro would be reducing inflation. With the minimum wage only increasing three times over the last three decades the minimum wage is due for an increase. However, with the increase of minimum wage might come with an increase of everything else thus making the increase meaningless and make a call for a new increase and creating a viscous cycle. Holtz-Eakin, Douglas, and Ben Gitis. "The Employment and Income Effects of Raising America 's Minimum Wage to $12 and to $15 per Hour.
The people who make minimum wage very clearly express their theory that higher pay will benefit them and show many valid points on why it should be increased. Minimum wage workers work hard and "[s]ince the 1970s, productivity has risen dramatically... [y]et middle- and low-wage workers ' incomes have barely changed" (Dorn). These circumstances make it hard for low wage workers to stay above the poverty line when the average low wage worker makes only $15,000 annually (Dorn). Before inflation, the minimum wage was surprisingly much higher, "in 1968, the minimum wage was close to $10 per hour in today 's dollars" (Dorn).
First, one main reason that the minimum wage should be raised is because the economy will prosper. “Economic Policy Institute stated that a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion net into the economy and create about 85,000 new jobs over a three-year phase-in period” (ProCon). This quote shows that the economy will flourish from the increase of the minimum wage and that unemployment will decrease. Another quote that shows how raising the minimum wage will affect employment is “To the extent that through these contour effects it affords as much as 70 percent of the workforce greater purchasing power, it effectively increases aggregate demand for goods and services, which should ultimately lead to the creation of more jobs” (Challenger 19). Bryan Covert supports raising the minimum wage by
Raising minimum wage in the United States would benefit over twenty eight million workers. Raising minimum wage would help businesses and would also give workers with minimum wage salaries more money then just enough to get by. The money these workers earn will go into businesses in and near their communities. Also the cost of living wages have increased throughout the years. With a minimum wage salary you have to work a forty hour work week without paying more than thirty percent of their income.