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Raising Minimum Wage Essay

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According to the Bureau of Labor Statistics, there are currently 43.1 million Americans living in poverty. By definition, someone who is living in poverty is making about $11,770 dollars a year or less. To lift the 43.1 million Americans out of poverty, the minimum wage should be raised to $15 per hour in all fifty states. Once the minimum wage is raised, society will benefit as a whole: socially and economically.
As of right now, the federal minimum wage is $7.25 per hour, which might seem like a decent number. However, back in 1963, the federal minimum wage was about $1.25, but if we take inflation into account (CPI Calculator) then that $1.25 equates to $8.67, which is greater than today’s minimum wage. If we were to raise the minimum wage to $15, it would only be slightly more than the minimum wage in 1963, not taking in the fact that the living standard is higher than that of the past.In other words, the price of goods has gone up, but wages remain stagnant, which breeds poverty because people simply cannot afford basic living necessities and government places many restrictions on who receives Currently, California is the only state that raised its minimum wage to $15 per hour. Some people are against the idea of raising the minimum wage because it …show more content…

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