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Minimum Wage Debate Essay

495 Words2 Pages

Minimum Wage was first enacted in 1938 during the Great Depression under Franklin Delano Roosevelt. It was initially set at $0.25 per hour, but today it is set at $7.25 an hour. In politics today, deciphering whether or not to increase the minimum wage is among one of the top controversial topics discussed. In this article, ProCon writes about the many different advantages as well as the disadvantages of increasing the minimum wage. Some of the arguments for raising the minimum wage that people tend to make are that it would increase economic activity and spur job growth, reduce poverty, and also would allow people to afford everyday essentials. On the flip side of the argument, ProCon writes that some of the disadvantages of raising the minimum wage would be that it would raise …show more content…

Many people argue for the minimum wage to be raised to $15 an hour, but why $15? In order to try to determine what the minimum wage should be, Vlasenko looks at the minimum wage from previous years and what they look like adjusted with today’s inflation. The minimum wage reached the highest value in 1968 of $1.60, correlated to $10.80 per hour in 2015. If the minimum wage was increased to $15 an hour, it would exceed any past real values of it. To equate the minimum wage to its past position among other wages, the range of $10.00 - $10.60 would best equate it to the 1950s, when the minimum wage was the closet to other average wages. The data Vlasenko has provided suggests that the minimum wage between $10-$11 would best return it to its relative position and its real purchasing power in the economy. Minimum wage is among one of the most lively debates among economists and politicians today. Research has been observed and studied for decades on the effect of it on the economy. Although minimum wage has both its benefits and disadvantages, no one seems to be able to a clear solution and explanation to

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Similarly, according to ProCon, “Should the Federal Minimum Wage Be Increased?” when increasing the federal minimum wage, there will be a “reduce income inequality” (ProCon 3). The value of minimum wage is considered to be “one of the important reasons” (Furman 3) on why inequality is at the

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Abstract In 1938 President Franklin Roosevelt signed into law The Fair Labor Standards Act, which among many things established a minimum wage; the law was created as a way to help the poorest in the US during the Great Depression. Then and now there are strong opinions on both sides of this issue, and without an automatic cost of living adjustment built into the law; any increase requires a bill passed by both houses of Congress and the President’s signature to make it law. In the following essay I will be analyzing two articles that outline both the for raising minimum wage side and the side that opposes raising it; by examining their claims, and the evidence that they use to support their claim of why raising the minimum wage is a good

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A minimum wage increase from “$7.25 to $10.10 would result in a loss of 500,000 jobs”. ("The Effects of Minimum-Wage Increase on Employment and Family Income”) This claim is better because it shows how raising the minimum wage will decrease job growth instead of increasing it. But, the minimum wage should be increased because increasing will also increase economic activity and spur job growth, decrease poverty, and improvements in productivity and economic growth have outpaced increases in the minimum

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This causes job loss for future laborers. Businesses will not be able to financially employ as many individuals, thus, increasing the nation’s overall unemployment rate. Some employers find a means around decreasing the number of employees by limiting the amount of hours each individual can work (“Economists argue about minimum wage”). A second argument in the minimum wage war focuses around the concept of inflation. Critics call to

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Yet, fast food where all one needs is either a GED or high school degree and no college requirement is needed wants to make $15 an hour. Which to choose: raise minimum wage or keep it the same at $7.50 an hour? States that have officially passed for minimum wage to $15 an hour are as follows: New York, Seattle, San Francisco, Los Angeles, and Washington D.C. New York’s minimum wage by the end of the year will be raised to $10.50 an hour and by the year 2018, the minimum wage will increase to $15 an hour. Seattle’s minimum wage will increase to $9.32 by the end of the year and will increase to the $15 an hour by 2017.

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The government should raise the minimum wage in order to benefit the people who are underpaid daily, and raise people’s standards of living. “6.6 million people will benefit from a rise in the minimum wage.” -Russ Carnahan The minimum wage in the United States is $7.25 an hour. Often, that can be enough to provide for a lower class family, but often not.

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The fight for 15 has been a controversial topic in society for the past six years (since 2012), the conservatives and liberals are in the debate of which would be better for our country. “Democrats believe that the current minimum wage is a starvation wage and must be increased to a living wage,” (NBC). The current federal minimum wage is at $7.25, but senator Tom Hanks had created an act in the year of 2013 to raise it to the price of $10.10. Republicans are quite adamantly against this increase, to the point that the House unanimously voted down the proposed increase. “A large minimum wage increase will damage the economy.”

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Minimum wage is inhumane and should be raised in order for the U.S to reduce poverty rates and help our economy grow. If there is lower poverty rate that most likely means a better economy for the U.S. Also if the minimum wage is raised employees with low incomes and minimum wage jobs would be able to feed and provide the simple necessities for their families . Raising the minimum wage will reduce poverty in the U.S making it a better country to live in. If the minimum wage is raised it would really help out workers working for this wage provide for their families and pay their bills which can be hard sometimes to some minimum wage workers.

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The Minimum Wage Struggle Money is an essential object to acquire in the society we live in. Various places demand a high monthly rate in order to occupy a premise, along with the stress of utility bills that may not be included. Aside from living costs there are many other factors which must be calculated when budgeting on a day to day basis. Overall, the survival rate tends to increase due to so many responsibilities that need to be upheld, as well as costs being raised. This rise in both the cost of living as well as the need for higher wages proves that the standard of minimum wage needs a major increase.

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Minimum Wage debate Around 13 percent of people are below the national poverty line which is over 40 million people so why is the minimum wage still far below $15 an hour? The main worries that people have about raising the minimum wage are inflation and more competitive job markets. While many companies already pay their employees $15 an hour, companies that don’t currently follow this will need to increase their prices or cut employees to make up for increased pay.

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These workers comprise 59 percent of the U.S. workforce. There is a long history related to minimum wage, with laws dating back to the early 1900s. Since starting at 40 cents an hour, the hourly wage has been increased many times and ranges from about $7 per hour to $9 per hour in different states. In order to understand the minimum wage controversy you must review its long history, the argument of choosing unemployment/welfare benefits versus receiving a minimum wage, and information on the organizations fighting for an increase or decrease and the

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First, the concept of minimum wage was established by the Fair Labor Standards Act (FLSA) in 1938 for the purpose of insuring a minimum standard of livelihood for inexperienced workers. The last time the minimum wage was increased was on July 24, 2009; the wage increased from $6.55 per hour to $7.25 per hour. Minimum wage should be based on a living wage rather than a market wage standard. The minimum wage being based on a market wage standard violates the principles of beneficence, nonmaleficence, justice, and responsibility.

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Minimum wage was first established in 1938 by Franklin Delano Roosevelt, in an attempt to stimulate economic growth and create a better standard of living for the lower class. This attempt was fairly successful, but also has many consequences. You may be asking yourself, “how on Earth could setting a limit on how little you can pay someone be bad?” On the surface this statement seems logical, but if we delve deeper we begin to see many negative effects on the implementation of minimum wage. In our nation the minimum wage law almost seems out of place, like it doesn’t quite fit in.

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1. Introduction In the modest term, a minimum wage is a lawfully authorized minor bound for wages, but the term “lawfully authorised” is unclear, leading too many different kinds of minimum wages institutions (Cunningham et al, 2007:19). It further states that in the most straight forward cases, such as Brazil and Bolivia, the federal government identifies a wage level and all employers in the country must pay at that level or above it (2007:19). Economist have tended to oppose minimum wage on the grounds that they reduce employment , hurting many of those they are supposed to help (the economist:24/11/2012).

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