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Raising The Minimum Wage Essay

711 Words3 Pages

As of January 1st, 2018, eighteen American states increased the minimum wage because the national minimum hasn’t been adjusted for inflation in years. The current federal minimum wage is $7.25 which is worth twenty-five percent less than it was worth in 1968. This has far-reaching effects, whether it be on the economy or poverty levels. Raising the minimum wage wouldn’t just improve these metrics, it would also create income equality for gender and racial income gaps. It is simply is in the United States’ best interest to raise the minimum wage so that our country can thrive.

The economic benefits of raising the minimum wage are well researched. The Economic Policy Institute found that, ”a minimum wage increase from the current rate of $7.25 …show more content…

A recent report by the The National Employment Law Project (NELP) established that, “Raising the minimum wage could play a critical role in reversing years of extreme wealth accumulation for the top 1 percent and reducing pernicious race and gender wealth gaps that leave families vulnerable and living paycheck-to-paycheck”. It is well known that women earn less than men, but recent research suggests African American and Latino men earn on average five dollars less than white male workers. NELP’s Laura Huizar wrote, “Raising the minimum wage is about economic justice, racial justice, and gender equality. Women and people of color play an integral role in our economy, but their contributions have long been devalued. A $15 minimum wage presents an opportunity to help women and workers of color overcome intractable barriers that continue to hold back their potential. Ultimately, when we lift workers and families at the bottom of the economic scale, we lift standards and opportunities for everyone.” A long time argument against this philosophy is that the aforementioned demographics are less skilled and should not be rewarded for unskilled work. There is no proof that this is true. However, studies do show that there is an increased need for unskilled workers and that paying workers higher wages creates a climate for an increase of skilled workers. Leaving little credence to the argument against trying to decrease the growing wage

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