Essay on Minimum Wage Is The Lowest Amount Of Required Money

955 Words May 20th, 2015 4 Pages
The minimum wage is the lowest amount of required money that is paid per hourly or daily basis for the employees that are regulated by the government. Minimum wage laws started in New Zealand and Australia with an established purpose to provide a minimum standard of living for workers. In the United States, the first federally mandated minimum wage had provided workers 25 cents per hour as part of President Franklin D. Roosevelt 's Fair Labor Standards Act of 1938. In addition, the Fair Labor Standards Act has been regulating employers for the protection of American workers (“Federal Minimum Wage”). Minimum wage laws are legal regulations implemented to protect workers from exploitations that raise the issues about the pros and the cons of raising the minimum wage, and the political hurdles of raising the federal minimum wage.
The question of raising the minimum wage has been debated academically and politically for years. Several economists have been analyzing the impact of raising the minimum wage for years; however, their studies show inconsistent results about the effects of raising the minimum wage. First, the supporters believe raising the salaries of the minimum wage earners reduce the poverty rate and the unemployment rate in the United States. They believe the greater the amount of money the minimum wage earners receive, the greater their ability to afford basic needs. For the supporters’, they believe the minimum wage is an important aspect to promote and to…

Related Documents