Minimum wage was enacted by the Fair Labor Standards Act of 1938, to protect women and children from unfair pay, unfair workplace environments, reduce poverty and ensure economic growth, over all to protect the lowest – paid worker. At no point did the original act say that minimum wage was meant to be a living wage or something one could raise a family off of. If minimum wage were to be raised to $10.10 in today’s world, history would unavoidably repeat itself.
As time has gone on, minimum wage has been raised to this date twenty-two times from the original $0.25 set in 1938. Inflation rates probably were not thought about at the time because the economy was doing well and there were no beginning intentions to raise the wage again. In …show more content…
Something most people do not think about is if minimum wage is raised any amount will companies just eat the cost or will they shift the cost off on the consumers? The easy answer is big business is exactly what it is named, big business and a business is made to make money, period the end. So if the government decides that that business needs to pay its workers more money the company will simply say sure I can do that but instead of me taking of profit loss, I will just raise my service and or goods prices and let the consumers eat the cost. Hint, hint, one of the main causes of inflation! Yet again showing that raising minimum wage will not give the consumer more purchasing power instead the prices will raise accordingly and the “raise” was never truly a …show more content…
Jobs that pay minimum wage are considered entry level jobs which are designed so that individuals can have an easy way into the labor market without having any prior skills and minimal knowledge of the job at hand. If minimum wage were raised to $10.10 the fear is that these jobs would dwindle and become rather difficult to attain. If that were to happen, teenagers and or first time workers would then have a difficult time getting a job without prior experience of some sort if put up against somebody who already has had experience in that field. But these jobs are designed for people who have not been in the work force yet, so how is there
As time has gone on, minimum wage has been raised to this date twenty-two times from the original $0.25 set in 1938. Inflation rates probably were not thought about at the time because the economy was doing well and there were no beginning intentions to raise the wage again. In …show more content…
Something most people do not think about is if minimum wage is raised any amount will companies just eat the cost or will they shift the cost off on the consumers? The easy answer is big business is exactly what it is named, big business and a business is made to make money, period the end. So if the government decides that that business needs to pay its workers more money the company will simply say sure I can do that but instead of me taking of profit loss, I will just raise my service and or goods prices and let the consumers eat the cost. Hint, hint, one of the main causes of inflation! Yet again showing that raising minimum wage will not give the consumer more purchasing power instead the prices will raise accordingly and the “raise” was never truly a …show more content…
Jobs that pay minimum wage are considered entry level jobs which are designed so that individuals can have an easy way into the labor market without having any prior skills and minimal knowledge of the job at hand. If minimum wage were raised to $10.10 the fear is that these jobs would dwindle and become rather difficult to attain. If that were to happen, teenagers and or first time workers would then have a difficult time getting a job without prior experience of some sort if put up against somebody who already has had experience in that field. But these jobs are designed for people who have not been in the work force yet, so how is there