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Should Minimum Wage Be Abolished Essay

1029 Words5 Pages

"They work hard every day; they stock our store shelves, wash dishes at our restaurants, clean our offices at night, care for our kids during the day...They have in common the minimum wage. And they need a raise, and as you saw, they deserve a raise" (Clinton). President Clinton and many others argued for the minimum wage hike to go into effect. Millions of hard -working Americans earn enough to barley scrape by, if they are that lucky. Minimum wage must be raised in order for it to diminish poverty and assist the working class to support their families.
The concept of minimum wage jobs seems to be falsely advertised amongst the business and political community to be aimed towards teenagers looking to save a little money. However, of the people that earn minimum wages, about eighty percent are adults. They’re looking to support their families, not earn weekend play money. A measly seven to eight-something dollars an hour wouldn’t do much for someone looking to help pay off student loans, or pay their other bills. The concept of the minimum wage should be viewed as earning money to support one’s …show more content…

“A review of 64 studies on minimum wage increases found no discernable effect on employment. Additionally, more than 600 economists, seven of them Nobel Prize winners in economics, have signed onto a letter in support of raising the minimum wage to $10.10 by 2016.” (U.S. Department of Labor) In any basic high school economics class, one learns that any extra money given via minimum wage would be put back into the economy. For example, if a single mother is barley making enough to pay for her kids to be clothed and fed, the extra money may go to things that are or aren’t necessities. If that meant the money going to her local electricity company, or to a toy manufacturer, it would without a doubt return to the economic

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First, one main reason that the minimum wage should be raised is because the economy will prosper. “Economic Policy Institute stated that a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion net into the economy and create about 85,000 new jobs over a three-year phase-in period” (ProCon). This quote shows that the economy will flourish from the increase of the minimum wage and that unemployment will decrease. Another quote that shows how raising the minimum wage will affect employment is “To the extent that through these contour effects it affords as much as 70 percent of the workforce greater purchasing power, it effectively increases aggregate demand for goods and services, which should ultimately lead to the creation of more jobs” (Challenger 19). Bryan Covert supports raising the minimum wage by

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407 Words | 2 Pages

Minimum wage should not be raised because it is not an income that someone sold live off of. Minimum wage in the country is currently $7.25 but some states have changed it in a way that is way too much. For example Washington state currently has the highest minimum wage at $9.32 that’s a $2.07 increase to the current amount minimum wage. Seattle is currently considering to raise their minimum wage to $15 it’s understandable that the city is very large and things cost more money but if they raise minimum wage to $15 that will only bring inflation causing things to cost only more money than it already does. If there is one thing that should not be done to the country it is to cause inflation.

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605 Words | 3 Pages

In reality some people don’t have the education or skills to get a well paying job. Those are the people who end up taking minimum wage jobs or becoming homeless. Minimum wage is the lowest wage a worker can legally get. From the start of the law in 1938 the wage has increased slowly(Annalyn Kurtz, CNNMoney). Minimum wage should be kept and raised, it helps people who can’t get a higher paying job live.

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957 Words | 4 Pages

“A full time minimum wage worker makes about $15,000 a year,” ( Cooper). This is not enough money to support a family. For example, millions of these people go into debt (10 Reasons to Raise the Wage). Since many people cannot afford to live a healthy life with that amount of money they turn to the government (Cooper). Should minimum wage be raised?

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674 Words | 3 Pages

This is a common story among people who only make minimum wage. The federal minimum wage should be increased, because even people who earn more than minimum wage cannot get past the poverty line. In addition, it reduces costly employee turnover, increases productivity, and stimulates the economy. Even for those who live at or below the poverty level, a minimum wage is not sufficient to support them and their families. However, expectations do exist for qualifying for free government assistance.

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They also argue that increasing the minimum wage shrinks the gap between low-wage and higher paid employees, which decreases the income inequality. Another argument they make is that if the minimum wage is increased, then more money will be put into the economy due to low income workers being more likely to spend their money than high income workers (Mejeur, 2014). Those that want a higher minimum wage view it as a way to better the economy an believe it is a better way to do so than by keeping the minimum wage at the same level. Although those may seem to work on paper, in practice they fall

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346 Words | 2 Pages

Why not give the people more ? Minimum wage is a constant conversation in America. The current state of this controversial conversion in America is raising the current minimum wage, which are 7.25. As of today, 1.7 million Americans are living off minimum wage every year. These people are all living under the poverty line.

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. . The current value of the minimum wage in real dollars is at its lowest level since February 1956, when the lowest U.S. wage was 75 cents — the equivalent of $7.19 in June 2022 dollars” (Cerullo). The increase in the federal minimum wage and adjusting the price to compare with inflation would ensure that low-wage workers could adopt a standard of living that is equivalent to the current economy. The federal minimum wage should also be increased as it will allow minimum wage workers to afford basic living expenses. Currently, the minimum wage is not enough for people to afford housing and other necessities.

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1506 Words | 7 Pages

Minimum wage is not enough for people to rely on. Many people that make minimum wage are likely to go through a time of poverty. Employees that make minimum wage are said to put less effort into the job, than the

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784 Words | 4 Pages

The federal minimum wage established in the United States in 2017 is set at $7.25 an hour. By law this means that every employee must be paid this amount from their employer at the very least, even though states have the right to raise the wage too. This wage is set to maintain a strong economy and also for people to make money and keep their jobs. Raising the wage could have countless negative effects on the economy as well as the working class, which is the exact opposite reason for it being enacted. Raising the federal minimum wage would specifically hurt small businesses and younger workers.

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If we raise the minimum wage jobs will be lost which would lead to a lower overall quality of life for disadvantaged people. (Freeman, 1996) We Do Need a Minimum Wage Although there does need to be some type of minimum wage at the federal level to ensure employees get paid something, it cannot be as high as $15 dollars an hour. If the actual minimum wage (also called the nominal minimum wage) is at or below

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1645 Words | 7 Pages

More than 146 million Americans are poor or have low income. Half of American workers earn $500 dollars or less a week. Many Americans are fighting to keep their homes and are wondering when their next meal will be (35 Statistics about the working poor that will blow your mind). Minimum wage is currently $7.25 per hour throughout the United States. There are some states who choose to make a state law that minimum wage be higher than $7.25.

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733 Words | 3 Pages

Minimum Wage: Should we Raise it? Minimum wage has been debated many different times from many different viewpoints, each with their own valid arguments and fears. But if we are to press forward in out efforts to solve this issue, we must face it head-on. The reality is that raising the minimum wage to $10.10 an hour would decrease poverty levels, support the economy, and would not negatively impact consumers as much as businesses seem to think. It is common knowledge that people living below the property line often work for low paying, minimum-wage jobs.

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1130 Words | 5 Pages

The people who make minimum wage very clearly express their theory that higher pay will benefit them and show many valid points on why it should be increased. Minimum wage workers work hard and "[s]ince the 1970s, productivity has risen dramatically... [y]et middle- and low-wage workers ' incomes have barely changed" (Dorn). These circumstances make it hard for low wage workers to stay above the poverty line when the average low wage worker makes only $15,000 annually (Dorn). Before inflation, the minimum wage was surprisingly much higher, "in 1968, the minimum wage was close to $10 per hour in today 's dollars" (Dorn).

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704 Words | 3 Pages

In the past three years, many politicians and labor unions have been pushing for an increase in minimum wage. Minimum wage is the lowest set wage by a law of a government body. An increase in minimum will benefit some people, and hurt others. An increase in minimum wage will cause benefit in the short run but will be very damaging to the economy in the long run. There should not be an increase in minimum wage because it is unhealthy to the economy in the long run and it will be the major cause of job loss, increase in inflation, competition, and the price level of goods and services.

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