The Pros And Cons Of Raising Federal Minimum Wage

I have researched and encountered a variety of different sources in which help determine the factors of a good economy in the United States. One factor, being that of our country’s federal minimum wage. This topic has proven to be a controversial issue in the United States. However, several authors have indeed provided me with the adequate information to sustain a good point. With a variety of articles, news, videos and maps, I can properly educate those who are in need of a higher minimum wage. These authors have taken into consideration all aspects, even the disadvantages, to prove and educate our people with the proper information needed. Although raising the federal minimum wage can cause a slight disturbance in our economy, it is imperative

During this time period, the unemployment rate went up 25% and eventually employers took an advantage of the workers’ needs, and decided to pay their workers at a very low wage. To prevent these employers from giving their workers this type of unfair treatment, the government stepped into the dilemma and set a standard of federal minimum wage. This federal rate was put in place to protect the rights of the workers, during the Great Depression along with futuristic purposes, through the Fair Labor Standards Act of 1938. Minimum wage at that time sat at 25 cents, and since then up until 2009 the minimum wage has been raised a total of seven dollars. If the federal minimum wage was not put in place, employers would have continued to pay workers less and less, and eventually would have caused an imbalance of power between the employers and the low-wage workers. Similarly stated by Lauren Dixon in her article, “How Does the Minimum Wage Impact the Economy.” She recognizes that, “minimum wage then helps mitigate that imbalance of power between employers and low-wage workers” (Dixon 1). Likewise, it would also destroy the purchasing power of consumers, as they would continue to have fewer money to purchase their needs and wants. Since 2009, the federal minimum wage has been

With the data provided, it is recognized that 41 million workers, almost 30 percent of the United States workforce, would be economically uplifted by the raise of a $15 minimum wage until 2024. Also, like mentioned previously, many minorities will gain many opportunities that have been denied from them since 1979, for unfair reasons. This will then minimize the gap between the lowest paid workers and the middle class. With the raise set to $15, it will “be particularly significant for workers of color” (EPI 2). It is also predicted that about forty percent of African Americans and thirty-four percent of Latinos will benefit from this raise. Similarly, according to ProCon, “Should the Federal Minimum Wage Be Increased?” when increasing the federal minimum wage, there will be a “reduce income inequality” (ProCon 3). The value of minimum wage is considered to be “one of the important reasons” (Furman 3) on why inequality is at the