ipl-logo

Should Minimum Wage Be Raised Essay

878 Words4 Pages

Should The Minimum Wage Be Raised

What is the minimum wage? What is the economic effect of raising the minimum wage? Does increasing the minimum wages help poor people to survive their life? Does increasing the minimum wage increase unemployment? Many people can think back and remember what it was like to put in an application for that first job and be presented with a position. Taking that position represents adulthood and is a very exciting time for a young person. All first jobs normally start with a minimum wage. Minimum wage is the minimum an employer has to pay an inexpert worker based on the rules set forth by the Fair Labor Standards Act (FLSA) that was originally established in 1938. Raising the minimum wage is one of the big issues that the government of the United States is facing.
The increasing of the minimum wage is crucial to raise living level of the poor people, but it has a lot of negative effects on the economy. Los Angeles city is facing this issue when the council of Los Angeles declared the raise of the minimum wage up to $15 an hour by 2020. …show more content…

They said that they are not able to raise their prices to afford this and cover their expenses. Also, they state that they have reduce the amount of the minimum wage employees or reduce their work hours which will effect both the owners and employees negatively. Furthermore, raising the minimum wage will effect economic negatively. The economists concluded that as a result of the wage increase, "many prices will increase, including those that lower-income households commonly face; wages will raise for those in minimum wage jobs that remain employed; employment opportunities for those at the bottom of the skills ladder will be diminished and employment growth will

Show More
Related
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.

Read More
733 Words | 3 Pages

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

Read More
993 Words | 4 Pages

Should the Federal Minimum Wage be Raised? In 1938, President Franklin Delano Roosevelt created the first minimum wage to promote the economy during trying times. Since it was first set at twenty-five cents, the federal minimum wage has been increased twenty-two times, the latest being in 2007 (Smith). Yet approximately fifty percent of Americans believe that the minimum wage should be raised again (“Should We Raise”).

Read More
679 Words | 3 Pages

To begin with, the federal minimum wage should be raised because it would increase jobs and economic activity. Economists from the Federal Reserve Bank of Chicago believe that raising the minimum wage to $9 an hour would increase household spending by 48 million dollars. Increasing the amount of household spending would help the economy by injecting more money in the economy. In addition raising the minimum wage to $10.10 an hour would create 85,000 more jobs for the United States. Creating new jobs would help the economy because people would have more money to spend which would increase the economy.

Read More
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?

Read More
952 Words | 4 Pages

The Minimum wage, however, should not be raised as it will not help diminish the unemployment and poverty rates nor create a more efficient economy. According to BeBusinessed.com, “New Zealand passed the world’s first national minimum wage laws way back in 1894.” However, it wasn’t until 1938 when the United States adopted a minimum wage of its own. It was introduced by President Franklin Delano Roosevelt in 1938 and was merely 25 cents an hour which would approximately be in an equivalent of about four dollars in today’s currency.

Read More
1359 Words | 6 Pages

Basically, a minimum wage is the lowest a company can legally pay his or her employees, You can get paid more you just can't get paid less than minimum wage. So the minimum wage was signed into the act on June 25th, 1938 by President Theodore Roosevelt. The first ever minimum wage was .25 cents an hour, Today the minimum wage is 7.25 but back then there wage compared to today would be about 4 dollars an hour. About 70 million workers are paid an average hourly wage at the age of 16 or older and of that 70 million

Read More
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.

Read More
999 Words | 4 Pages

As a country, we’re facing an epidemic where finding steady employment is hard and the cost of living is high. This has caused many people to work a minimum wage job and struggle with paying rent and etc. A solution proposed to solve this problem would be to raise the minimum wage to something that a person could survive off of. However, this controversy has caused a debate between people who are split on the issue. There are people who are for it and people who are against it.

Read More
1261 Words | 6 Pages

The U.S. federal minimum wage was first established during the Great Depression, and it has risen from 25 cents to $7.25 per hour since it was first instituted in 1938 as part of the Fair Labor Standards Act (Wihbey). Currently, twenty-nine states and Washington D.C. have minimum wages above the federal minimum wage (DeSilver). The federal minimum wage is the lowest wage permitted by law. Those who support the increase of the federal minimum wage argue that the federal minimum wage has not kept up with inflation, promotes economic growth, and decreases poverty. Those who oppose the increase of the federal minimum wage argue that it would increase inflation, cause an economic decline, and increases poverty.

Read More
618 Words | 3 Pages

Federal Minimum Wage In 1938, the federal minimum wage was established by Congress under the Fair Labor Standards Act, initially set at $0.25 an hour. President Franklin D. Roosevelt passed it as part of the New Deal to protect workers during the Great Depression. An increase in the federal minimum wage has been an ongoing subject of controversy in the US, because of the perceived gap between the actual minimum wage and the need for a true “living wage.” Congress has kept the federal minimum wage the same since 2009 when it went from $6.55 to $7.25.

Read More
1633 Words | 7 Pages

Minimum wage is the smallest amount of money the local, state, or federal government requires a person to be paid. The federal government sets the minimum wage in America, however states and cities can choose to raise the minimum wage above what the government has set. Originally, minimum wage was only intended to help the American people during a time of economic crisis. When America plunged into the Great Depression in 1929 following the stock market crash which caused more than half the banks closed due to lack of money, fifteen million people in the country became unemployed and the majority of the country plunged into poverty (History.com Staff). As a result, President Franklin Roosevelt released his plan called the New Deal, a series of bills and programs that promoted job growth and allowed the banks to be bailed out,

Read More
711 Words | 3 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.

Read More
526 Words | 3 Pages

However, in Seattle, where the minimum wage in in the process of being raised to $15 and currently sits at $13, there is no noticeable increase in prices. Most small business owners actually support a raise of the minimum wage. In addition, a raise in minimum wage would have no measurable effect on employment rates. Raising the minimum wage would spark a huge change in large amounts of workers. There is actually a possibility of businesses saving money with a minimum wage increase due to a decrease in worker turnover.

Read More
805 Words | 4 Pages

The Economic Policy Institute estimates that an increase of $2.85 in the minimum wage could bring in an additional $6,000 a year, but opponents argue that making employees more expensive for companies to hire could increase the unemployment rate which is already 6.7 percent of Americans. Also, according to the article “Should the Minimum Wage Be Raised” raising the prices of certain products could reduce the demand for them, so if we raise the price of workers the demand for them would go down and that could lead to workers getting fired, getting their hours cut, or cause businesses to higher fewer of them in the

Read More

More about Should Minimum Wage Be Raised Essay

Related Topics

Open Document