Essay on Minimum Wage Should Be Legal

1641 Words Dec 23rd, 2014 7 Pages
In the last few years, many low-wage workers, as well as politicians from the left, have argued that the minimum wage is too low to effectively live on in this day and age, and that an increase from $7.25 to $10.10 by 2016 would be an achievable solution. They claim that such a hike would only “modestly [raise] prices” and that “workers [would] clearly benefit” (Board). The left also claims that “increasing the minimum wage doesn’t kill any jobs at all” (Weissmann). Why, then, should we not raise the minimum wage? Simple: all of these claims are incorrect and have been proven incorrect time after time. In fact, raising the minimum wage would increase unemployment, the rate of inflation, and further upset the balance of supply and demand. Besides, minimum wage jobs aren’t meant to be permanent careers, or make much money at all, but only as an entrance into the job market. Before I dive head first into a sea of facts and figures, lets look back at the history behind the minimum wage. The minimum wage was established in 1938 by president Franklin Delano Roosevelt as part of his economic recovery plan, the New Deal (Weissman). Before the New Deal, most cultures actually set maximum wages to curb inflation, but, by this time, a minimum wage was necessary (Sowell 237). At that time, businesses commonly took advantage of workers by paying very little to stay profitable during the Great Depression, so the price was set at $0.25, equivalent to $4.07 in today’s money. It grew slowly…

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