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The Pros And Cons Of Minimum Wage

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Minimum wage is a very complicated subject to try and compose it into one simple explanation. Minimum wage according to the mereaim new Webster dictionary is a wage fixed by legal authority or by contract as the least that may be paid either to employed persons generally or to a particular category of employed persons. The minimum wage was first introduced in the 1930’s before this time there was no national minimum wage or any laws that protected the workers from exploitation. The early attempts to create a national minimum wage were thwarted by the U.S Supreme Court. This allowed workers to be exploited through the 1930’s. After winning the 1936 election, Franklin D. Roosevelt signed the Fair Labor Standards Act into law in 1938. This Act created the first mandatory minimum wage of 25 cents an hour.
The free market capitalist system is based on private property. Though it is based on the freedom to pay your worker, however, much you want to it is important to realize that the free market is a flawed system and it is mostly for small time labor. Without the regulation that is in place a free market …show more content…

It states that a government empowered by the document may make laws that promote the general welfare of the people. Therefore, the minimum wage does fall under that category as it puts regulations against exploiting workers. If the minimum wage regulations were nit put into place then people would not be protected from those who are greedy. The General welfare clause should be read as it was back in 1787 when it was written, the general welfare of all people still remains as an important value in The United States of America as it once did in 1787. Frankly, no the interpretation of the General Welfare Clause doesn’t affect the compatibility of the minimum wage as the minimum wage regulations were put into place in order to protect workers who may or may not have been

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“President Roosevelt signed the Fair Labor Standards Act (FLSA) into law in early 1938. The FLSA introduced sweeping regulations to protect American workers from being exploited, and created a mandatory federal minimum wage of 25 cents an hour in order to maintain a "minimum standard of living necessary for health, efficiency and general well-being, without substantially curtailing employment" (Minimum Wage, 2017). Virginia’s minimum wage policy has always been aligned with the federal guidelines for wages. The last increase in the minimum wage policy was in

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Definition of Minimum Wage and its Importance “Minimum Wage” refers to the legally mandated lowest

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Minimum Wage Since 1938 Until 1938, there was no such thing as a minimum wage that was set by the government. All workers got paid based on whatever the boss of the workplace was willing to give them. Then the United States government passed a bill that set a federal minimum wage in 1938, which changed how people got paid. The wage started out at 25 cents. However, a wage of 25 cents in 1938 doesn’t equal the same amount in money during the present day.

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Analyze Changes of the Federal Minimum Wage The federal minimum wage establishes the minimum remuneration that an employer in the US can give to an employee. Set by the Federal Reserve, it is applicable throughout the nation; however, each state is free to set its own. Some states have a higher minimum wage than the federal standard and others had set a lower rate but are required by law to adhere to the federal's minimum. Importantly, the minimum wage set by the Federal Reserve protects workers from exploitation by ensuring that they get their deserved pay the work that they do for an employee.

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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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Students in high school, and college usually work for minimum wage, and they usually are working to help themselves out, such as have extra money for themselves, or to pay rent if they are in college. He also says that the minimum wage will only affect the people with lower incomes which is not true. It will somewhat affect the middle class people as well, and the people with high incomes will still have to pay for it through their food, gas, and taxes. Another assumption in this article is when he says that only the people who have dinner at McDonalds and the ones who shop at Walmart are the ones with low incomes. That is not completely true, not only low income people shop at Walmart, and eat at McDonalds.

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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,

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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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History of the minimum wage in the USA The first attempt to establish a federal minimum wage was in 1933 as part of the National Industrial Recovery Act but it wasn’t the first in the US history asMassachusetts passed minimum wage laws in 1912 covering only women and children. The 1933 Act introduced a $0.25 per hour standard was set,but it was ruled unconstitutional by the U.S. Supreme Court because of restricting the employers ' rights to set the price for their labor.

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The national minimum wage is currently $7.25, introduced by Congress in 2007. Many citizens and politicians find it is time for a raise in the minimum wage. In 2010, legislation was proposed to raise the minimum in three stages to $10.10 and would continue to adjust to inflation. An even more radical proposal is to raise the wage floor to $15. There are many citizens, though, that oppose any change in the minimum wage.

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In modern society, one seeks out a job that pays far above minimum wage, simply because one feels it is not sustainable enough for simple needs. Thus, the issue of what price the minimum wage should be comes about. One begins to seek and advocate for a higher minimum payment for a job well done. In 1938, President Franklin Delano Roosevelt signed a federal document that set the tone for generations to follow, the Fair Labor Statistics Act. This long anticipated document set forth rules regarding a minimum pay requirement for people across the country, setting the national minimum wage at $0.25 an hour with a forty-four hour work week and the banning of cruel child labor, making it the first document of its kind to pass through Congress.

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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.

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Since the past, humans have used to get necessities by traded goods and exchanged product, afterward, people learned to have the easier way to trade which is the intermediary in the exchange, money and have been using it until now. Normally, people have different ways to earn money, for instance, heritage, but the most common and be accepted is by working and earn the salary or wage. In each age gap and types of work earns the wage unequally, to avoid this circumstance, the government had to set the minimum wage to protect the labor from employer’s exploitation, and raise the employee’s life quality. The minimum wage has be defined as “the lowest wage per hour that a worker may be paid, as mandated by federal law. The minimum wage is a legally mandated price floor on hourly wages, below which non-exempt workers may not be offered or accept a job” (Minimum wage, n.d., Minimum wage: Federal and State Wage Rates, paragraph 1).

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 Minimum wage is the minimum amount of compensation an employee must receive for performing labor. Equivalently, it is the price floor below which workers may not sell their labor.  In 1890s, several attempts to introduce minimum wage were made in Australia and Newzealand. This movement started in order to reduce the number of workplaces that employed manual workers at low wages and made them work under extremely poor and socially unacceptable conditions. Such workplaces were also known as “sweatshops” at that time.

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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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