Minimum Wage Good or Bad
Since the beginning of its introduction, minimum wage has been a problem for many Americans and has caused countless numbers of outrage. The idea that there should be a base amount that people get paid for working certain hours was followed by many cities until minimum wage was first established for the United States in 1938, called the fair labor standard act. It was first put at $0.25 which is about $4.23 US dollars in 2015. Ever since its establishment it has been steadily rising, today minimum wage is different in many places but the base is $7.25 throughout the United States. Right now they are trying to reinstate minimum wage at $15.00. There is a lot of conflict and confusion about this globally and individually on what it will help and what will not help. The only thing that need to be know about raising the minimum wage is that it will only end up hurting the people that it was meant to help.
The first reason why …show more content…
Although some people might say that with the rise of minimum wage the more profit the businesses would get, but if inflation happens because of minimum wage then they are going to have to pay more for the product as all the prices would have raised. For example during our research we have found websites that say that when the minimum wage increases so do the prices of all the products that you need, so if you were to really look at it and pay attention to the raise of all the prices before and after, you might end up having to pay about the same. For example if you are making $9.25 now and have to pay $4 for a bag of chips, and if you
Since the beginning of its introduction, minimum wage has been a problem for many Americans and has caused countless numbers of outrage. The idea that there should be a base amount that people get paid for working certain hours was followed by many cities until minimum wage was first established for the United States in 1938, called the fair labor standard act. It was first put at $0.25 which is about $4.23 US dollars in 2015. Ever since its establishment it has been steadily rising, today minimum wage is different in many places but the base is $7.25 throughout the United States. Right now they are trying to reinstate minimum wage at $15.00. There is a lot of conflict and confusion about this globally and individually on what it will help and what will not help. The only thing that need to be know about raising the minimum wage is that it will only end up hurting the people that it was meant to help.
The first reason why …show more content…
Although some people might say that with the rise of minimum wage the more profit the businesses would get, but if inflation happens because of minimum wage then they are going to have to pay more for the product as all the prices would have raised. For example during our research we have found websites that say that when the minimum wage increases so do the prices of all the products that you need, so if you were to really look at it and pay attention to the raise of all the prices before and after, you might end up having to pay about the same. For example if you are making $9.25 now and have to pay $4 for a bag of chips, and if you