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Raising Minimum Wage Essay

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Minimum wage is the lowest, baseline hourly salary employers are legally allowed to pay their employees. It was first legislated in the year 1938 under the presidential leadership of Franklin D. Roosevelt (Minimum Wage - ProCon.org). The current federal minimum wage stands at $7.25 an hour, with a few states adjusting their minimums to some higher degree. In this current decade (from 2007 – 2017) where there has been a somewhat aggressive rising cost of living and inflation, the debate regarding minimum wage is forefront and increasingly relevant. The notion of this has brought me to select the topic for further research. What I want to focus on specifically is the primary question: Should minimum wage be raised? – specifically regarding the …show more content…

This is probably the most substantial feature to indicate regarding the foundation of this entire debate on minimum wage. Through my careful examination of numerous papers and articles from the opposing side, the argument that appears forefront is that the federal wage minimum should be increased because it will reduce poverty levels within the wage-class America. This is simply not the case, and there is research to further explain why. As it was previously noted, raising the minimum wage will decrease ascending social mobility. What is social mobility? A clearly defined definition provided by Encyclopædia Britannica social mobility is “[the] movement of individuals, families, or groups through a system of social hierarchy or stratification” (“Social Mobility”). In relation to the workforce, an example of upwards mobility would be a low-wage worker rising to a corporate managerial position, resulting in a rise in social class. Giving these entry-level jobs a wage hike will likely shift the demand towards retaining jobs with lower skill

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In the last few years, the topic of the minimum wage has been a highly debatable subject. There are numerous perspectives regarding raising the minimum wage. “The concept of the minimum wage can be defined as the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period,” (ILO,2014). A few of the common disagreements are how unemployment rates will be affected, who will be most affected by a change, and what alternatives are available. In the article “Why the next president should raise the minimum wage” Roger Lowenstein argues that it is his belief that raising the minimum wage will benefit society by reducing unemployment rates and thus reducing the amount of the population living in poverty.

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U.S Minimum Wage One of the most frequent topics discussed in our country is U.S. minimum wage and whether it should be raised or not. Minimum wage should be raised so that it can change the structure of our economy in a beneficial way. There are many debates discussing the pros and cons of raising minimum wage. There are many pros that out way the cons in why minimum wage in the United States should be raised. Throughout this paper I’m going to provide facts regarding why minimum wage should be raised.

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Abstract The minimum wage has been the subject of intense debate for many years. Proponents contend that it improves workers' quality of life, reduces poverty, and boosts economic growth. Opponents counter that it causes higher unemployment rates and increases company expenses (Maverick, 2024). In this essay, I will examine the advantages and disadvantages of the minimum wage in the United States while examining aspects linked to and unrelated to employment. I shall draw attention to important subjects using relevant data and charts.

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636 Words | 3 Pages

The cost of living is a difficult situation that many Americans across the country struggle with today. A heated debate that directly impacts the lives of all citizens is whether or not the price of minimum wage should be increased. Minimum wage is the standard amount of money earned for executing a basic skill job. Some people hold strong beliefs on why enlarging minimum wage is a major downfall, while others think this process is extremely beneficial. The following paragraphs will discuss the pros and cons surrounding both sides of this topic and the reasoning that births each one.

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Raising the minimum wage

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1347 Words | 6 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.

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Since its beginning in 1938, the federal minimum wage has been raised twenty-two times. It is important to know that the minimum wage does not rise with inflation. Rather, it can only rise with congressional action when they believe it is appropriate to do so (“Wage and Hour Division”). It is also important to keep in mind that quite a few states have their own minimum wage laws,

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158 Words | 1 Pages

Once upon a time a debate started between economists about a theory called minimum wage. It is the year 2016 and the controversy of ‘who is for it’ and ‘who is against it’ is still undergoing, (Derrell, 2016) verified. According to (Anon., 1828), minimum wage can be defined as “an amount of money that is the least amount of money per hour that workers must be paid according to the law”. The purpose of this theory is to help workers earn enough income even though not all of them are as trained as they should be. There are pros and cons to this theory but at the end it all comes down to how you few the evidence.

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588 Words | 3 Pages

Minimum wage hikes have been a long debated issue amongst workers and companies. In the article “The Minimum Wage: to raise or not to raise”, Mike Patton invalidates many of these minimum wage workers by stating that there is ample room in the upper class for those who wish to improve themselves and their economic standing (2015). This implies that achieving economic success is simply a matter of self-motivation rather than an element of luck in working opportunities. Patton continues by stating that the majority of minimum wage earners are young individuals working at entry level jobs (2015). Additionally, the minimum wage was never meant to be a career salary but a starter income for those in the early stage of their work life (Patton 2015).

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The issue of minimum wage The debate between the relationship of poverty and minimum wage has existed for many years, and yet there is not sufficient evidence that raising minimum wage will significantly reduce poverty among many people. Through the increase in minimum wage, who will benefit and who will be dragged down? It is easy to say that no one will benefit, and at the same time it is clearly evident that the intended workers, ones from poor families, will be dragged down first. Rather than helping the lives of poor people, increasing minimum wage will hurt them or leave them unaffected. One major reason behind the lack of relationship between poverty and minimum wage is that a small portion of minimum wage workers make up poor families.

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Minimum wage is an extremely diverse topic in the United States. Well, more or less, the debate on whether or not to raise it. Over the past few weeks our class has read several articles and watched a video entitled “Thirty Days”, all of which discuss minimum wage and how raising it would affect society. In this essay I aim to compare and contrast the positive and negative aspects of raising minimum wage based on the articles we have read and the video we watched in class.

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754 Words | 4 Pages

Minimum Wage Increase One of the most talked about topics in our country seems to be would an increase in minimum wage benefit positive or negative for many individuals and our economy. The increase in minimum wage is essential that will benefit greatly from unemployment, strengthened education power towards the economy, and spirits of the hardworking individuals who will be fairly rewarded they deserve for their hard work of their jobs. What Americans are looking for in jobs that are available are the ones that provide good wages. And according to Roznik, “much of our unemployment or underemployment is based on the low availability of jobs that do provide a living wage”. (Roznik)

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Introduction “Raising the minimum wage has been hotly debated in cities and states for years. Supporters argue that it's a remedy for widening wage inequality and will boost consumer spending, while opponents counter that it could reduce opportunities for employment, particularly for teenagers and others looking for entry level or low-skilled jobs.” According to CNN, minimum wage has been an ongoing debate in politics. Many regions/states have their own take on minimum wage. It is ideal because of cost of living has changed, and employment is still down.

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1536 Words | 7 Pages

Introduction Minimum wage is the lowest hourly rate an employer can pay an employee for hours worked. The topic of raising the minimum wage is a sensitive issue for many people. The livelihood of many relevant stakeholders will be directly effected by policies created in regards to raising minimum wage, both positively and negatively. This paper will examine the history and current state of minimum wage. It will identify the issues connected to raising minimum wage, analyze the arguments for and against, and make recommendations based on the analysis.

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675 Words | 3 Pages

Thomas Perez, a politician and civil rights lawyer in the United States of Secretary of Labor mentions, “Raising the minimum wage isn't just pro-worker; it's pro-economic growth.” Minimum wage law was first passed in 1938 under the reign of President of Franklin D. Roosevelt, where the living wage was set at 0.25 cents per hour. In 2009, the federal government set the minimum wage of $7.25 per hour in the United States, but some states like Washington and Oregon set a higher minimum wage of $9.25 per hour and $9.47 per hour respectively. With the cost of living raising and expenses getting higher day by day, majority people are supporting the increase of minimum wage to satisfy their basic needs. Raising the minimum wage has unintended consequences as it stands as a threat to high school students, who would be tempted to settle for work rather than go to college.

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