Minimum wage could be the one lifeline that is able to sustain a teen or a struggling family lifestyle. For some of us who do not know what minimum wage is, it is the compensation that an employee receive from a certain set amount of hours they work under their employer. You may know that there are two sides to this situation: the employee and the employer. One side demands a raise in minimum wage while the other side proclaims there is already enough income as it is. Though both side’s arguments aren’t so different, this issue is like a tipping scale where it’s balance cannot be maintained. But if that is so, then why is it that the working force want more in their pockets at the end of the day? It all boils down to how much people
…show more content…
state and local government where employees will be paid no less than $7.25, also get paid overtime when the after 40 hours of work in a work week. In 2013 Obama proposed that minimum wage should be increased to $9 which would seem like a good idea. In the article Minimum wage 101 by Mike Konczal, Konczal give his point of view on the fluctuating minimum wage, he says that EITC (Earned income tax credit) can provide an increase in a workers tax returns and that would be a more reasonable way to go about putting more money in workers pockets. To add the demand for higher wages are usually derived from workers who are not satisfied with their income so the EITC alternative that Konczal stated gives roughly 27 cents on the dollar from the EITC to employers. This could be seen as increase in minimum wage. Soon afterwards the bill for The Fair Labor Standard Act was introduced on March 15, 2013. It was read over twice and was presented to the Committee on Health, Education, Labor, and Pensions. The bill calls for four specifications. In the article SBLC report an author …show more content…
Although when there are those to take part there also those who do not take part, in Lange’s article he mentions that no matter how many bills are passed the inequality gap will still be stagnant. The reason is that those who receive usually workers who end up receiving these raises but are clue to know why, and because of that they are not willing to spread the minimum wage standard to other workers. Even though there are reason for hiking up minimum wage there are also reasons for lowering them, raising minimum wages does not benefit workers as much as one believes. In the article Raising Minimum Wage Is Not The Answer by John T. Harvey he gives an example about raising minimum wages where if an owner of a restaurant were to give all of their workers a raise, and then if cost of buying product for the restaurant were to go up as well because of demand then the owner would be have to pay more money than he receives. It could also go the other way where there would be no demand at all. But this does not mean that lowering wages infers job creations, in March 2007 unemployment fluctuated from about 6.7 million but then jumped to nearly 15 million in only 3
state and local government where employees will be paid no less than $7.25, also get paid overtime when the after 40 hours of work in a work week. In 2013 Obama proposed that minimum wage should be increased to $9 which would seem like a good idea. In the article Minimum wage 101 by Mike Konczal, Konczal give his point of view on the fluctuating minimum wage, he says that EITC (Earned income tax credit) can provide an increase in a workers tax returns and that would be a more reasonable way to go about putting more money in workers pockets. To add the demand for higher wages are usually derived from workers who are not satisfied with their income so the EITC alternative that Konczal stated gives roughly 27 cents on the dollar from the EITC to employers. This could be seen as increase in minimum wage. Soon afterwards the bill for The Fair Labor Standard Act was introduced on March 15, 2013. It was read over twice and was presented to the Committee on Health, Education, Labor, and Pensions. The bill calls for four specifications. In the article SBLC report an author …show more content…
Although when there are those to take part there also those who do not take part, in Lange’s article he mentions that no matter how many bills are passed the inequality gap will still be stagnant. The reason is that those who receive usually workers who end up receiving these raises but are clue to know why, and because of that they are not willing to spread the minimum wage standard to other workers. Even though there are reason for hiking up minimum wage there are also reasons for lowering them, raising minimum wages does not benefit workers as much as one believes. In the article Raising Minimum Wage Is Not The Answer by John T. Harvey he gives an example about raising minimum wages where if an owner of a restaurant were to give all of their workers a raise, and then if cost of buying product for the restaurant were to go up as well because of demand then the owner would be have to pay more money than he receives. It could also go the other way where there would be no demand at all. But this does not mean that lowering wages infers job creations, in March 2007 unemployment fluctuated from about 6.7 million but then jumped to nearly 15 million in only 3