Raising The Federal Minimum Wage Analysis

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It is no secret that there has been an ongoing controversy between the rising gap of the rich and the poor. The rich are getting richer and the poor are getting poorer. Over the past two decades, the gap between the poor and the rich has stretched to its widest levels. Those who are poor feel as if they are not given the same opportunities as the rich and those who are rich only get richer because they have the power-money- to continue getting/ being rich. One of the best ways to reduce the gap between the rich and the poor is by raising the federal minimum wage to $15.00 an hour. As of 2016, the federal minimum wage has increased to $10.00, however, it must increase even more. It’s time that the American Dream becomes a reality. Raising the …show more content…
Increasing the federal minimum wage, itself, has been an ongoing debate in the United States. Some people are afraid that if the federal minimum wage was to increase, it would force businesses to lay off employees, which would result in an increase in the unemployment levels. This may be true, however, the Economic Policy Institute stated that if the federal minimum wage was to increase, it would inject $22.1 billion dollars into the economy and create about 85,000 new jobs over a three year phase period. Also, someone who has been laid off could apply for unemployment and automatically be accepted. When accepted, the person, who was laid off, would receive money from the company that laid them off, until the person finds a new job. Just think about it, they are basically receiving free money for being at home, in their comfortable pajamas, on the computer, looking for a new job. Also, another reason some people are …show more content…
Making $10.00 an hour is just enough for a family of three to barely make it above the poverty line. Many of these people have to rely on public assistance, such as, food stamps and programs, like the EITC (Earned Income Tax Credit). The poor are not looking for revenge or war against the rich. Instead, they just want to join them. Since 2000, wage mobility has risen and wage inequality has fallen. If we continue to increase the federal minimum wage, wage inequality will continue to decrease. Studies have shown that eight out of ten people believe that though you may start off poor, if you work hard, you can make a whole bunch of money. It’s true, anyone who works hard could make a whole bunch of money, but after all the finances are paid off, there’s barely any money left that will last until the next paycheck. All the poor are asking is for a better opportunity to make more money. There are a plentiful amount of Americans that work their butts off, five days a week, just so they could barely make it. If they were given the opportunity to earn more money, they would jump at the chance. Increasing the federal minimum wage more is that opportunity that the poor need. They are already working hard, why not give them what they deserve. If the government keeps increasing the minimum wage, there are so many benefits that will come along with it. Not only

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