A minimum wage exists in more than one hundred countries, both industrialized and developing. Congress first enacted a 25 cents an hour federal minimum wage in America 75 years ago. Over the years, it increased nine times, reaching the current $7.25 an hour. When the minimum wage was created, President Roosevelt declared its purpose was to “maintain a minimum standard of living necessary for health, efficiency, and general well-being.” With every increase the same objections and fears are brought up about inflammation, the loss of jobs, and essentially economic suicide. However, the minimum wage has been raised nine times now to keep up with the cost of living and America is still standing. Both critics and advocates of raising the minimum
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Critics say that raising the minimum wage would result in the increase of prices of goods and/or services. Advocates counter this point by arguing that by putting more money in the pocket of the worker and consumer that more money will be injected into the economy, resulting in the need to produce more goods and services. Critics also point to the fear of impending loss of jobs by increasing minimum wages. Advocates for a minimum wage increase point out that the quality of work and the retention of experienced workers will offset the initial loss of any job due to inflammation of wage increase. Critics warn that minimum wage increase will lead to stagnated workers, not seeking career advancements. Advocates counter this point by explaining that increasing the minimum wage from one that only allows survival to one that fosters an environment that people can feel more free to thrive and seek higher education, skill advancement in trade school or technical training. These advancements from the employees will carry themselves into the work environment, enriching the quality of services and products produced by the
Critics say that raising the minimum wage would result in the increase of prices of goods and/or services. Advocates counter this point by arguing that by putting more money in the pocket of the worker and consumer that more money will be injected into the economy, resulting in the need to produce more goods and services. Critics also point to the fear of impending loss of jobs by increasing minimum wages. Advocates for a minimum wage increase point out that the quality of work and the retention of experienced workers will offset the initial loss of any job due to inflammation of wage increase. Critics warn that minimum wage increase will lead to stagnated workers, not seeking career advancements. Advocates counter this point by explaining that increasing the minimum wage from one that only allows survival to one that fosters an environment that people can feel more free to thrive and seek higher education, skill advancement in trade school or technical training. These advancements from the employees will carry themselves into the work environment, enriching the quality of services and products produced by the