ipl-logo

Minimum Wage Thesis

1347 Words6 Pages

Josh Ilyadzhanov
English 10-2
Ms. Tunick
Minimum Wage Essay Did you know that over forty five million Americans lived under the poverty lines just last year (Census bureau)? Minimum wage is the lowest wage permitted by law for any job in the United States of America, and was established in 1938 by the Fair Labor Standards Acts. Minimum wage started at an all time low $0.25 and over time has changed twenty two times. The current minimum wage in America is $7.25 per hour. Nowadays in America, poverty is at an all time high of 14.5%, which is atrocious for the economy. Thus, the best way is to develop the economy, better reduce poverty rates, and help individuals is by increasing minimum wage.
In the economy today, there are a lot …show more content…

A man or women working a full time for the governments the lowest pay permitted by law of $7.25 every hour ears $15,080 in a year, which is 20% higher than the 2015 federal poverty level of $12,331 “for one-individual family under 65 years old yet 8% underneath the 2015 federal poverty level of $16,337 for a single parent family with a kid under 18 years old.”(U.S department of labor). Say the government raised the minimum wage to $9, it would lift three hundred thousand people out of poverty and if it was raised to $10.10 if would raise nine hundred thousand people from poverty which would be great for the economy and the devastating poor people (US Census Bureau). These statistics prove what the outcome of poverty would come to if the minimum wage was raised, clearly shows that the poverty rates will …show more content…

For example, proven statistics from two economic reporters David cooper and Douglas Hall, 47% of US workers are women and they make up 63% of minimum wage workers. U.S Bureau of Labor statistics prove “African Americans represent 12% of the US workforce, and make up 17.7% of minimum wage earners.” The raise of minimum wage would help individuals because it will reduce race and gender inequality. For example according to the US Bureau of Labor Statistics, the median income for women is roughly 78% of the national average income. African Americans and Hispanics make 67% and 79% of the median income. Increasing the minimum wage is necessary to create a more “equitable income distribution for disadvantaged groups.” The diagram to the left shows the percentage between the women and the men working for minimum wage and their ages. This clearly shows the separation between gender and even age groups. This is why the best way to put an end to all the segregation in the work field is raising minimum

Show More
Related
567 Words | 3 Pages

A recent study involving three hundred fifty thousand small businesses and the IRS proved that by raising the minimum wage, proved that by raising the minimum wage in cities, actually created jobs (Meyerson A.19). The survey showed that the cities with a higher minimum wage had more jobs come to the area, aiding in job growth (Meyerson A.19). Another argument that leans toward the raising of the minimum wage involves people in poverty. Studies have shown that by raising the minimum wage, more people can live above the poverty line (Meyerson A.19). By raising the minimum over nine hundred thousand people would be

Read More
630 Words | 3 Pages

Minimum Wage Policies Thomas Sowell is well known for advocating for an upgrade of minimum wages to better the lives of the poor. In one of his favorite quotes, Sowell says that “if their work is not worth enough to pay for what they want, is it up to others to make up the difference, rather than up to them to upgrade their skills to earn what they want?” (Sowell, 2). However, various assumptions arise in the collective thought that increase in the minimum wage of employees will ultimately improve the lives of the less fortunate members of the community. Political activists who advocate for the increase in minimum wage are credited for being compassionate with regards to the needy members of the community.

Read More
284 Words | 2 Pages

Even if some low-income workers may be able to benefit from a higher minimum wage, most of the very poor won’t be able to. When they are not in the labor force; they either can 't work because they are too young, old, disabled or unskilled or won 't work; which would create more challenges through their

Read More
1993 Words | 8 Pages

In 2013, an estimated 12% of workingwomen would have benefited from a one-dollar increase in minimum wage. A disproportionate portion of minorities would benefit from a minimum wage increase. African Americans represent 12% of the total work force, but are 18% of workers affected by an incrementation. Similarly, 11% of the total work force is Hispanic, but Hispanics are 14% of workers affected by an incrementation. In 12013, a moiety of the benefits of a minimum wage increase would have gone to workers in households with an annual income of less than $35,000.

Read More
733 Words | 3 Pages

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

Read More
579 Words | 3 Pages

The increase of minimum wage would benefit more than just workers it would have a positive impact on women and their families. This would benefit women because in the United States women tend to earn less than men. In 2015 full-time female workers made seventy nine cents for every dollar earned by men. Raising minimum wage would also help provide for their children.

Read More
605 Words | 3 Pages

Russ Carnahan said that “ 6.6 million people will benefit from a raise in the minimum wage”. In order to change many lives the minimum wage needs to increase. If the government raises the minimum wage many families would be benefit because they need to have a better salary in order to have the opportunity to live in better conditions, they would provide their children the opportunity to have a better education,and help end poverty. First, the minimum wage should be raised because many workers need to have a better salary.

Read More
1856 Words | 8 Pages

In 2013, 3.3 million Americans worked at an hourly rate at or below the federal minimum of $7.25 (Undisputed Facts 3). Hourly workers take on the difficult and dreaded work that no one else wants to endure, and in return, receive the bare minimum. Minimum wage workers deserve more, but instead they find themselves dealing with the hardships placed upon their families and themselves because of a lack of companion from the federal government. This is a serious problem that needs to be rectified, not only in the United States, but around the world. The national minimum wage should be raised to achieve alignment with the rising cost of living, reduce poverty, and create more jobs.

Read More
1633 Words | 7 Pages

Minimum wage is the smallest amount of money the local, state, or federal government requires a person to be paid. The federal government sets the minimum wage in America, however states and cities can choose to raise the minimum wage above what the government has set. Originally, minimum wage was only intended to help the American people during a time of economic crisis. When America plunged into the Great Depression in 1929 following the stock market crash which caused more than half the banks closed due to lack of money, fifteen million people in the country became unemployed and the majority of the country plunged into poverty (History.com Staff). As a result, President Franklin Roosevelt released his plan called the New Deal, a series of bills and programs that promoted job growth and allowed the banks to be bailed out,

Read More
670 Words | 3 Pages

Women and ethnic minorities make up the largest group earning less than a $15 wage. According to NELP, Women workers make up about 54.7 percent of minimum wage workers. African Americans represent nearly 12 percent of the aggregate workforce, accounting for about 15 percent of the under-$15-wage workforce. Also, Latinos make up 16.5 percent of the workforce, however represent very nearly 23 percent of workers making under $15 an hour. With the workforce so disproportionally represented, these workers with the lowest paying job will greatly benefit from the change.

Read More
1105 Words | 5 Pages

Women are a majority group that will benefit the most from a minimum wage increase. An expected 12% of working women would have profited from an one-dollar increase in the minimum wage, also African Americans speak to 12% of the aggregate work power, yet are 18% of workers influenced by an

Read More
946 Words | 4 Pages

Recently, increasing the minimum wage seems to be the solution constantly talked about publicly. Proponents of an increase in the federal minimum wage believe raising the minimum wage to 15 dollars an hour would lead to less people living at poverty level. This idea would certainly help millions of Americans and allow for families to better support their children by allowing for greater stability and spending power within the economy. The only problem with an increase in minimum wage is that it doesn’t affect those who cannot find gainful employment. Furthermore, it increases the possibility that some businesses would pay below the minimum wage “under the table” which is illegal, but still common in many industries and jobs on the lower end of the economy.

Read More
1153 Words | 5 Pages

Is it really a good thing to raise the minimum wage to meet the basic need for poor people? Is it the best way to prevent poverty rate and income inequality? Answers must vary from skeptical to comprehensive response depending on whoever answers these questions. Amid a debate on this

Read More
396 Words | 2 Pages

History of Minimum Wage In over about 120 years ago, New Zealand was the first country to have a national law creating a government role for setting a minimum wage. The minimum wage has been a cornerstone of the United States’ labor system, and has been a cutting-edge labor law topic among employers and workers for decades. However, the United States has not always had a minimum wage, and was introduced during the Great Depression of the 1930s. Before the minimum wage was introduced there was no federal minimum wage and no legislation to protect workers from exploitation. Therefore, the lack of regulation cause thousands of people to have a routine exploit in poor working conditions in factories for little pay.

Read More
704 Words | 3 Pages

However, in the long run, many employers will not be able to maintain to stay in business due to the significantly high wages. An increase in minimum wage would cause millions to lose their jobs and put them further in poverty. It would even make it harder for them to obtain jobs after the increase due to the increase of competition in the job market, and most importantly an increase in minimum wage would cause increase in the price level and it will reduce significantly consumption due to the lack of purchasing power that is cause by the higher inflation rate. The minimum wage should not increase because it is unsustainable economically. Another approach of help guide people out of poverty can be a push for an increase in education and knowledge capital instead of continuously increasing the minimum

Read More

More about Minimum Wage Thesis

Related Topics

Open Document