Raising the Rate of Minimum Wage

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ENGLISH 1

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Economics

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Feb 20, 2024

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docx

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1 Raising the Rate Raising the Rate of Minimum Wage Christeon McClelland American Intercontinental University English Comp I August 25, 2021

2 Raising the Rate of Minimum Wage In a competitive economic world, the level of income is vital to the survival of humans. Contrary to the traditional era where everything was cheap, people in the current generation need to pay more for almost everything. Increased mortgage, medical bills, fuel, and education bills are all expenses that need to be paid. However, while costs increase, the number of minimum wages remains low. The minimum wages concept (referred to as the federal minimum wage) in the USA was set in 1938 by Franklin D. Roosevelt at $0.25 an hour. Ever since the minimum wage has undergone more than 22 Congress amendments but has only increased to $7.25 an hour. Compared to the fluctuations in the cost of living, the increased margin is too low for low- income employees to live comfortably. The minimum wage laws establish a base level of pay that employers must pay certain covered employees. To many scholars, this minimum income is the cause of the increased poverty levels witnessed across the US. The initial purpose for minimum wage policy development was to stabilize the post-depression economy and protect the workers in the labor force. Additionally, it protected the health and well-being of employees. The federal minimum wage of $7.25 per hour has not changed since 2009. Increasing it would raise the earnings and family income of most low-wage workers, lifting some families out of poverty—but it would cause other low-wage workers to become jobless, and their family income would fall. Therefore, the minimum wage should be raised so that families can escape poverty. Any income is preferable to NO income, but we need to ensure the amounts fit the cost of living.

3 Increasing the minimum wage in each state would potentially raise families out of poverty and encourage more people to work to support their families' lifestyles. One of the key impacts of low minimum wage is poverty. Increasing the federal minimum wage can lower the poverty level, give people hope and decrease public use. Keeping the minimum wage as an option for any job can encourage families to remain impoverished. Based on the international labor report (2020-2021), millions of people work at low-paying jobs like serving food in restaurants, caring for the elderly, and delivering pizza's yet they are expected to care for their families and still pay for their college education. In most cases, the minimum wage brings families to a halt and forces them to live paycheck to paycheck. Public housing supports those with low incomes and minimum wages. Still, it also disadvantages those who want to do better for themselves but refuse to give up their government benefits until they increase their income. With the labor market being so competitive these days, it might be difficult for individuals to obtain positions that pay more, to begin with. However, if the minimum wage was to be increased, families would be able to earn more, save, and live in better areas. Secondly, the cost of living does not match the minimum wage numbers. People require money to live comfortably. The minimum salary does not even cover some people's monthly costs. Consider this: Imagine working for eight to ten hours a day and your supervisor handing you $7.25 for all your efforts that day. That's even fewer than the number of hours worked. “By boosting the income of low-wage workers who had jobs, a higher minimum wage would raise their families’ real income, lifting some of those families out of poverty.” (cbo.gov, 2021). Working for minimum wage is equivalent to modern-day slavery. In the slavery era, people used to work for less yet be

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