The federal minimum wage is currently set at $7.25 per hour. Many people around the nation are pushing for the minimum wage to be raised to $15 per hour, almost double of what it is set at now. This may sound like a good thing when first hearing it, however the effects that it will have on the economy will be far worse than having a lower minimum wage. If the minimum wage was raised to $15 per hour the inflation would also raise due to businesses raising prices to cover for employee costs, people will also not be motivated to seek higher education, and small businesses may be forced to close down due to rising costs. The minimum wage should stay where it is at now and not be raised to $15 per hour.…
In 1938, the minimum wage was established as part of the fair Labor Standard Act. Over time, of infrequent and inadequate adjustment the minimum wage, no longer serves as an adequate wage floor.…
Since 1938, the minimum wage has been raised several times; usually it would occur almost every year, sometimes it would happen three or four years later. But now, it hasn’t changed for the past five years. In 2007, the minimum wage was $5.85; in 2008 it was raised to $6.55, and then again in 2009, it was raised to $7.25. It is now the year 2014, and the minimum wage remains at $7.25 an hour. A full-time worker who is paid the minimum wage would make an annual income of $15,080. Most of the individuals working low-wage jobs are over the age of twenty and trying to support a family; this is not a sufficient amount of money to make ends meet. The minimum wage should be raised to $15 an hour; this is called the “living wage.” The "living wage”…
The minimum wage debate has been a disputed topic in the United States for many years since it was first implemented. In 1938, President Franklin D. Roosevelt signed a bill allowing for a federal minimum wage to be set (Grossman 1). 70 years later, many minimum wage workers and other government officials want to implement a 15 dollar per hour minimum wage. While the current federal minimum wage is $7.25 an hour, the negative impact of the economy explains why it should stay that way, if not be reduced or eradicated. In states that have implemented a higher minimum wage, there are already statistics to prove the economic decline. Raising the minimum wage would hurt both the economy and the average worker due to the loss of jobs that would occur,…
A day in the life of an American worker can vary by one’s social class. While one person may start out their day at the local Starbucks, another person is budgeting to buy groceries for their family. For some, no matter how hard they try, they can’t seem to make ends meet. Americans that make minimum wage struggle everyday with many issues such as paying bills, feeding a family, staying out of debt and quality of life. If we could increase minimum wage to compete with the rising cost of living, we would see less Americans struggling to get by. William Dunkelberg’s article titled Why I Don’t Think We Should Raise the Minimum Wage, proceeds to argue the reasons that we should not increase minimum wage in America. () Dunkelberg goes on to describe all the issues that arise with raising the minimum wage and how it affects businesses. Among these reasons, the companies debating against raising minimum wage claim that they can’t find qualified labor, there are significant costs to hiring, there would be a fewer number of jobs provided and it would destroy job opportunities forever. () Dunkelberg also describes issues such as workers have given up on looking for jobs, younger and poor people are collecting welfare and other assistance, and that…
There is a very large group of unskilled workers in the United States labor force today, and many of them do get paid the federal minimum wage of $7.25 per hour. The condition of the lower class in the United States today is at a very low point due to the immense income inequality and unemployment rates. Not only are the economic conditions substandard, but also the lower class environment. Many of them are living in very bad conditions and are struggling to make ends meet. There has been a huge controversy about whether the minimum wage is a livable wage. A livable wage is defined as the wage needed to pay for basic needs, which includes minimum food, childcare, health insurance, housing, transportation, and other necessities (ex. clothing,…
Shamus Cooke, the author of the article, discusses the ways in which an increase to a fifteen dollar minimum wage would be beneficial for all workers by bringing up statistics as well as discussing corporate greed. I intend to use this source by using the statistics about how much the U.S. economy is constituted from consumer spending to support a point I made about how raising the wage boosts the economy. Cooke also discussed how corporations value their profits, which in turn means paying their worker less. This directly supported another claim I made in my paper about how the blame should not be directed towards workers asking for better pay, but should instead be directed towards the corporations who can afford to pay them a better wage…
The debate over whether to raise the Minimum wage is one of the most controversial topics in America right now. The question at the center of this debate is will raising the minimum wage do more harm than good. Some, like David Henderson an economics professor at the Naval Postgraduate School, would argue that a raise in the minimum wage would do virtually nothing for the impoverished except make them more poor. He believes that employers would stop hiring and start cutting benefits, force employers to do something that they really don’t want to do, and finally cause teenagers to drop out of school in search of high paying jobs only to find that no one wants to hire them. I, however, do…
“Minimum Wage Cruelty,” an article by Walter Williams, discusses the idea that minimum wage is at an acceptable level right now and doesn’t need to be raised. The articles opens with the reasons for raising minimum wage: fighting poverty, preventing worker exploitation, and providing a living wage. The inclusion of these reasons gives a basis for Williams to debate against. He is able to prove why raising minimum wage is bad to the reader, not just explain what happens when you do. To begin his argument, Williams brings up the idea that kiosk and robots are going to be replacing human service jobs in anticipation for the minimum wage increase. This appeals to the logic of the reader by implying the idea that having more jobs with lower wages…
When you first hear about raising the minimum wage, you might think that sounds great, more money! But you have to think about the effects that will come with it. Many people don’t realize the bad that will come out of raising wages, such as job losses and price increases. Raising the wages is like a double edged sword, it is great in the beginning, but in the end it hurts the very people it is intended to help (Scheiber para. 2).…
Should the United States government increase the federal minimum wage? It has been found that over the years this topic consistently comes up and is one of the more controversial topics for today’s society. The wage should not be raised from the current rate of $7.25 an hour for a 40 hour work week to the proposed rate of $10.10 an hour by 2017 by the Democratic party. Minimum wage should not be considered a living wage and should not be something an individual strives to obtain. My opinion is that people should strive to make more than just minimum wage and have a career goal other than becoming the best fryer at a fast food restaurant. Do not get me wrong, that is a great goal for a high school student or someone’s first job but not…
Who wants to earn more money for performing the same work? Most of the working population would say “sign me up”. An often-debated way to accomplish this would be for the federal government to raise minimum wage. While on the surface, this simple idea may sound like a win-win proposition; but when logic and simple economics are applied, the result is a lose-lose proposition. Raising the federal minimum wage can actually have adverse effects on the economy and the portion of the work force that it is intended to help. According to Allan Meltzer, a professor of political economy at Carnegie Mellon University, “the argument against the minimum wage lies in good economics and common sense”…
The issue of minimum wage has been a hotly debated topic among politicians and their constituents. Many argue whether minimum wage exists to help people on poverty or used as a base salary for future positions. This issue has been especially concerning for candidates running for the 2016 presidential election. Despite being a somewhat simple topic, the argument for minimum wage has divided Americans in terms of what to do. In Ari Armstrong’s article, he argues that minimum wage is egregious and will only harm the economy by causing people to have lower motivations and lack of employment. On the other hand, Jason Furman and Sharon Parrot argue that minimum wage and government help are the only ways to lift people out of poverty. This division…
Minimum wage is the least wages that employers are supposed to pay the employees. It also refers to the lowest values at which the employees are expected to sell their labor. Various nations throughout the world have adopted the minimum wage laws. The issue of minimum wage has been a controversial one in for many decades. This is a global problem because heated debates have existed on whether the minimum wage should be raised or not. The people who support laws concerning minimum wage argue that it raises the living standards of the employees, helps the economy and alleviates poverty. The opponents assert when the minimum wage is increased, the unemployment rates are increased, and this favors the high skilled employees at the…
The market rule in the hiring and employment of resources (including labor) is that demand and supply interact to set the market prices. This means that the available labor competes for the available jobs that the market can supply that in turn culminates in declining wages as desperate employees take on any available jobs for sustenance (Neumark & Wascher, 2008). Thus, it becomes necessary for governments to reign in so ensure lower cadre employees earn meaningful wages that can enable them live a dignified life. Although critics argue that legislation on minimum wages has the potential to lead to loss of jobs as businesses outsource services to countries with lower labor costs, most of the low-wage jobs include unskilled direct service jobs such as cleaning and security which are difficult to outsource. Thus, minimum wages help improve living standards of the lowest paid…