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Should Minimum Wage Be Abolished Essay

715 Words3 Pages

Minimum wage was established in 1938. The minimum wage boosted up in 1968 to $1.60. In 1991 the minimum wage increased to $4.25 an hour. Then in 1997 it went up again to $5.15 an hour. The last time minimum wage was raised was in 2009 to $7.25 an hour. As the years move on so does the disagreement about the minimum wage. Minimum wage should be raised because closing the economic gap, living expenses raised and broadening the middle class. Minimum wage should be raised because of the monetary gap in society. Lew Prince owns one of the most successful music businesses in the Midwest. Vintage Vinyl started with little of nothing, but they paid their workers more than minimum wage.(Article #6) He says that by paying workers more than minimum wage he had workers that wanted to grow with the company and the customer's.(Article #6) Since other music businesses were paying people minimum wage they had dejected customers and workers that always renounce. (Article #6) Business owners got together and most of them promoted elevating the minimum wage.(Article #6) When workers get a raise they go out and buy buy buy immediately. This would cause an economic boost, helping the …show more content…

As of now many Americans are in the lower class and the upper class continues becoming richer and richer.Raising the minimum wage is a very efficient way to circulate money in the economy from the bottom up, where it can have the most impact alleviating hardships and boosting consumer demand for business. (Article #6) President Obama said “There is no evidence that a higher minimum wage costs jobs.” (Article #3) So therefore we should increase minimum wage a little over time since minimum wage earners, living paycheck to paycheck, spend increases right away. (Article #6) We do know that to lift the economy, people need to buy more things. In order to lift working families up they need a little raise over a long period of

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Lowenstein believes that raising the minimum wage at a slow and steady pace would benefit unemployment rates and employers. “In effect, a minimum wage nudges employers to adopt a pay scale where they, also, are better off,” (Lowenstein, 2016). Business owners hire people when they feel it will enable them to serve a higher number of customers. “A business that is humming will not sack a worker just because the minimum wage is lifted by a buck,” (Lowenstein, 2016). This statement is implying that the minimum wage does not necessarily correlate with unemployment rates increasing.

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Today more minimum wage works are exchanged of making money for their families (smith 2) In order for our country to be stronger minimum wage needs to be raised because of their children and bills. One reason why the minimum wage should go up because they need more money for their children. “If we increased the minimum wage workers will earned 6,000 dollars more for their family” (smith 3) The minimum wage

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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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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

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The argument of raising minimum wages have been really popular recently. In the article, the author talks about all the benefits of raising the minimum wage and what states have followed the bandwagon in doing so. The overall dilemma regarding the raise of minimum wage limits is whether raising the minimum wage really going to help the economy or is it just going to cause problems for the middle and upper class? The law of economics will introduce inflation into the raise and the economy will end up in the same position as before. For example, the standard of living on the west coast and the east coast is different because of different wage levels.

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“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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The Minimum Wage: Should it be Raised? In 1938, President Franklin D. Roosevelt passed the Fair labor Standards Act of 1938. This set the minimum wage for the United States to be $0.25 and a maximum work week of 44 hours (Grossman, n.d.). Since 1938, the federal minimum wage has been raised 22 times averaging a raise of 31 cents every 3.25 years (Bose, n.d.).

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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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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.

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Should Minimum Wage be Raised or Lowered? In the past years there’s been a massive debate over the issue of increasing or decreasing minimum wage to workers in the United States. Minimum wage was first created in 1938 to help the living of lower class citizens in America. The law was formed to assure the citizens could afford necessities and basic living cost.

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By increasing the minimum wage, the government and economy will benefit, families will be able to sufficiently support one another, and the number of people

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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.

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This argument focuses on that job availability follows a supply and demand curve. For example if lower level employees; who typically spend a higher percentage of their earnings, have more disposable interest; more money will flow throughout the economy creating more demand and more jobs. Contributing to this point, Economists from the Federal Reserve Bank of Chicago predicted that a $1.75 rise in the federal minimum wage would increase household spending by $48 billion the following year, boosting GDP and leading to job growth. To back up this data with real world analysis, through a study done in 1994 when New Jersey raised their minimum wage; when compared to neighboring state Pennsylvania, there was no indication of job lost in food preparation market that makes up 50% of minimum wage

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In 1937, the Washington state was allowed to have a minimum wage and the Great Depression moved even more states to enact protective minimum wage legislation, and by 1938, the federal government enacted the Fair Labor Standards Act and the federal minimum wage bill got passed. The minimum wage law also got reintroduced in the United Kingdom in

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Minimum wage was first established in 1938 by Franklin Delano Roosevelt, in an attempt to stimulate economic growth and create a better standard of living for the lower class. This attempt was fairly successful, but also has many consequences. You may be asking yourself, “how on Earth could setting a limit on how little you can pay someone be bad?” On the surface this statement seems logical, but if we delve deeper we begin to see many negative effects on the implementation of minimum wage. In our nation the minimum wage law almost seems out of place, like it doesn’t quite fit in.

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