What Is The Effects Of The Minimum Wage Essay

1016 Words 5 Pages
Many people, specifically in the senate and the house, attempt to justify the minimum wage, they try to tell us it has helped out low wageworkers. But they have failed. As John Raese once said “The minimum wage is something that F.D.R. put in place a long time ago during the Great Depression. I don 't think it worked then. It didn 't solve any problems then and it hasn 't solved any problems in 50 years.” The idea that the minimum wage is “saving the middle and lower classes, saved by what, a law that allows business to make a large amount of profit while the people generating that profit are living in poverty. That’s not saving the middle and lower class, that’s digging a deeper hole, a hole called poverty. In fact the IMF suggests the heart …show more content…
The effects aren’t just money, they’re living conditions, health, and food. The figure shows the amount of money the American people have lost since the minimum wage doesn’t keep pace with inflation? And yet with all the studies people still say we don’t need a higher minimum wage. Losing all this affects not only the person not making this money. This person that has lost this money doesn’t buy local anymore. They go overseas or to somewhere where its cheaper, or more affordable. And that means there is a lesser amount of stimulus in local economies, and eventually will leave an underlying effect on the national economy. The idea of a high, or higher, minimum wage seems to make sense. See the state in the US with the highest minimum wage has seen the fastest job growth in the US. Many states are realizing this and many states put an increase on the ballot this past midterm. With the overall job growth fairly good in the US, Washington has seen a greater job growth that the national average. Specifically over the past 10 years jobs have increased substantially. In comparison with bigger cities like New York and Los Angles, Washington has had substantially lower unemployment. And many people say that the minimum wage has allowed more low skilled …show more content…
The NELP argues that we should index it in accordance with the Consumer Price Index. NELP says that indexing it here has two main benefits. First, it would in turn keep relative pace with inflation. The idea is a good one because if the cost of living, or food, or other resources increase people would make enough to support themselves as well as their family. Others argue the government, at least, should index off of inflation alone. Their argument is that even if it doesn’t keep pace with every increase and decrease, it would help people escape poverty. And it seems to be a large problem in the US today. So it would seem necessary to index it to one of the many figures to help the lower class

Related Documents