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Minimum wage controversy essay
Minimum wage controversy essay
Minimum wage the debate essay
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The minimum wage was initially set at $0.25 an hour and has only risen since then. (Fair Labor Standards Act or FLSA) Minimum wage has been a hot political issue since its institution and it has often caused rifts in the political system. Currently,
In a minimum wage increase to $10.10 like Obama wanted that would raise the national ratio to 50 percent. In San Francisco they raised minimum wage up to $10.74 and that has made the 40 percent city median wage. In February of 2013 Obama raised the minimum wage and one month into doing that the economy raised and got better for workers and
The federal minimum wage should be increased because raising it would increase the economic activity and spur job growth, decrease poverty, and also improvements in productivity and economic growth have outpaced increases in the minimum wage. Increases in job growth and economic activity will happen when the minimum wage is elevated. If the minimum wage was increased it will “inject 22.1 billion net into the economy and create about 85,000 new jobs over a three year period”. (“Raising the Federal minimum Wage to $10.10 Would Lift Wages for Millions and Provide a Modest Economic Boost") Thousands of new jobs will be created and it will put billions of dollars into the economy.
The Minimum wage was inserted into law to counteract working forty plus hours a week and child labor. In today’s times the only thing minimum wage is doing is hurting young workers to get a job and keeping smaller business from growing. With the minimum wage in place it doesn’t guarantee a living, it guarantees
Democratic presidential candidates Bernie Sanders and Hilary Clinton have both embraced a 15 dollar minimum wage hike and interestingly enough, in a recent interview Donald Trump said that he cannot believe how “anyone could live with 7.25 an hour” and believes the states should take it upon themselves to increase the wage locally. It would be truly remarkable if one individual could live in Los Angeles (or Long Beach for that matter) with the current minimum wage of 10 dollars without having to share living expenses with others in the same household, or working multiple jobs. Nevertheless, with current economic conditions around the world it is hard for California and the United States to compete in low wage paying jobs that do not require much skills. In light of this fact I feel that the purpose of the minimum wage (which was established back in the great depression and had the goal of creating a minimum standard of living where all workers health and wellbeing was protected) should change to meet the demands and reality of our changing economic environment. Instead of being a labor price that psychologically gives individuals the liberty to buy a house, car, and some leisure, as many families think (especially as they mistakenly reflect back on the 1950’s) it should reflect the condition of the economy as a whole,
Is it a dream to make more of a minimum hourly wage? Or is it considered a nightmare? California legislators and Governor Jerry Brown have decided to increase the minimum wage by fifteen dollars by the year of 2022. With an increase in the minimum wage, residents of California are worried that they would lose more than they will actually receive. The people of California are actually making good points as to why the minimum wage of fifteen dollars should not be instated.
Currently in the United States, there is a strong effort by workers of the fast food industry as well as some of retail companies to raise the federal minimum wage to $15 per hour. The current minimum wage is $7.25 an hour, which turns out to be about $15,080 per year. This is said by many to be an unlivable salary and leaves minimum wage employees in poverty. However, by raising the federal minimum wage there is a greater potential to hurt the small businesses of this country or possibly leave them with no choice but to close their doors. Surely, that would lead to higher unemployment and an unstable economy.
Minimum Wage California, as of 2016, has begun to increase their minimum wage to $15.00 per hour, more than double the federal mandated wage, and New York will likely soon follow. The federal government is currently considering raising their minimum wage from $7.25 per hour to $10.10 per hour as well. While this may seem favorable at first, raising the minimum wage in America will harm the economy. Federal laws passed to raise the current minimum wage will only increase unemployment, shut down small businesses, prevent people from aspiring to higher education in life, increase the prices of products made by minimum wage workers, and encourage companies to make their products in other countries. An increase in capital may, on the surface, appear
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.”
A question that has been debated vastly between opposing parties, groups, and even individuals is, should the federal minimum wage be increased? Ever since July, 2009, the federal minimum wage for the United states has been $7.25 per hour, this being the number that has caused much controversy. By definition minimum wage is the smallest amount of money that must be paid to an employee by an employer, regardless of previous qualification. This value has caused so much controversy because many believe it is not enough money to survive on while others argue it is plenty. Although many would argue that there is no benefit to raise minimum wage, it is actually very constructive and would help the United States prosper.
The federal minimum wage is currently $7.25/hour and has not changed since 2007 despite significant rises in the cost of living. Many lawmakers feel that it is past time to raise the minimum wage; the debate is by how much. An increasing number of lawmakers feel that $15.00/per hour is necessary in order to allow individuals to live above the poverty line. Others, however, feel that this significant rise would hurt the very people it is intended to benefit. If people are working, they should be able to earn enough to provide the basic necessities for themselves and their families.
Introduction More numbers of state are joining to take action to raise the minimum wage to $15 per hour in a few years even though there is a high disputing controversial all over the nation. The federal has set the minimum wage level to $7.25 on Jan. 1, 2015. In less than a year the index number of the minimum wage is going up automatically with cost of living. And eventually it will be likely to increase year by year with automatic and expectation index.
I like how you used minimum wage as one of the tensions between economics and ethics. This is a popular topic in the news now and seems to come up every couple of years. There are many pros of raising the minimum wage such as higher worker morale, improved living standards and increase consumer spending. At the same time there are disadvantages as companies could raise their prices, jobs could be cut, and reduce desire for career advancement. If I own a coffee shop and increase the wages of all employees to $15 an hour, but have to layoff 3 employees in the process am I doing an ethical or unethical thing?
Minimum Wage is the lowest wage an employer is allowed to pay its employee by law. It has been a fundamental part of our economic growth and has been first instated by congress in 1938 as part of the Fair Labor Standard Act. With about 14.8% of Americas in poverty, there has been much debate on whether it should be raised or not (Census). However with economic change and inflation, minimum wage has been raised in the past. Though raising it many times in the past, many economists still think it’s not enough to live on.
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.