Increased Minimum Wage

There is a lot of controversy over whether the minimum wage should be increased to 15$ an hour in all states. Proponents say that current wages in America are not livable because inflation is way higher than the current minimum wage; Minimum wage was 1.60 in 1968, which is equal to 11.60 today. Opponents say that many cannot afford this, will have to close down, make cuts, raise prices and lay off people because they will need to pay them more. Most economists believe that that high of an increase would hurt job growth. I believe that Increasing the minimum wage to fifteen dollars an hour nationwide will do more harm than good. Raising the minimum wage to fifteen dollars an hour nationwide is too big of a jump and would just cause businesses to cut off workers, force small businesses to close and increase inflation.

In a 2015 survey conducted by The New York Times and CBS News, 71% of people surveyed believed the minimum wage should be raised to $10.10 (Should The Federal). The minimum wage has been increased by congress 22 times since 1938 and was last updated to $7.25 on July 24, 2009 (Minimum Wage). 3.3% of workers in the United States get paid the minimum wage or lower (Background of). A federal minimum wage hike would lower poverty levels, decrease spending on government assistance, and increase productivity in jobs.

The debate over raising the minimum wage has been a hot topic ever since President Obama introduced the bill at the 2014 State of The Union Address. He intends to raise the minimum wage from $7.25 to $10.10, an increase of over 40%. While the President claims this idea to be beneficial to the economy, studies show otherwise.

Minimum wage is the minimum hourly wage an employee can be paid from their employer. The federal minimum wage is set at seven dollars and twenty-five cents an hour in the state of Mississippi. Some states have chosen to raise their minimum wage higher than federal requires. San Francisco, CA, has the highest minimum wage fixed at ten dollars and fifty-five cents. Even though, some states have a higher minimum wage than others. The Fair Labor Standards Act entails every employee to be paid the same amount. If minimum wage was to be raised, it would have advantages and disadvantages.

The minimum wage has always been a crucial part of American economics, being a hot topic for debate. Recently, the idea of increasing the minimum wage to $10 an hour has sparked a great deal of controversy. These debates have jumbled American politicians and citizens around, trying to decide what they believe is the best way to approach the topic. Most Americans believe that the minimum wage should be increased, according to Pew Research Center, 33% favor and 40% strongly favor this raise. This can cause problems for many people without them realizing the consequences. The increase in minimum wage to $10 an hour would be detrimental to the United States economy, if passed it would result in increase of costs for businesses, unbalance of the

Minimum wage is the minimum hourly wage an employer can pay an employee for work. Minimum wage helps people pay for things they use or need every day like food, clothes, and their homes. In some cases and for certain people the the federal minimum wage is not high enough for them to live on. In this paper I will argue that minimum wage should be increased to benefit people in a variety of ways, both socially and economically. Increasing minimum wage will also help cut down on government spending and pull people out of poverty.

The question whether we should raise the minimum wage came up a lot in the last election. In fact, politicians and the media have of course done an amazing job at polarizing the issue. Most people may know that the federal minimum wage in the U.S. is currently $7.25 an hour, but there are about 29 states that have their own minimum wages that are higher than the federal requirement. States such as Massachusetts and California go as high as $10 dollars per hour. Actually, some cities like Washington, DC and Seattle have passed an even higher minimum of $15 per hour. Although the minimum wage is an important issue, unfortunately, it is usually grossly oversimplified by both proponents and opponents. Before deciding

The economic effects of raising the minimum wage can be damaging, but I believe the benefits of it outweigh the negatives. Those who tend to live on the minimum wage - fast food workers, retail employees, ext. - tend to spend most to all of their income. By raising their wage, they are able to 1. spend more and 2. possibly invest more. This would have a ripple effect throughout the entire economy - leading to raises for everyone. It is

I don’t think the minimum wage should be raised. While low, raising the minimum wage would not necessarily have just positive effects, it would have negative effects as well. If it is raised jobs would decrease. There is a set amount of money and raising the minimum wage would not help the workers at all. The topic of minimum wage should be left between the employees and the employers, the people it really affects. It should be up to the employee to work as hard as they can and up to the employer to pay them for the job they have done. Some say that the minimum wage should be lowered, they tend to argue that with the amount the employees earn being so low they have to work extra jobs just to make a living. What they don’t see is that with a

It is a good economic policy to increase the minimum wage for low income earners. Increase the minimum will help these individuals get out of poverty, make a good living and afford better health care coverage. In addition increase the minimum wage will help individuals to take care of themselves and stop rely on social program and government assistances. Thus at this point the big concern is to decide how much to increase the minimum wage.

Did you know that the Federal minimum wage for employees has been $7.25 since June of 2009? In modern society, poverty and inflation are common substantial problems. Many people think increasing the minimum wage will corrupt businesses and employers by forcing them to make cost cuts and increasing inflation, while others think it will reduce poverty and inflation by increasing individuals income. For instance, according to the Los Angeles Times, Lissette Rowe, a 30 year old psychology student from Georgia, earns $7.25 an hour, making subs for a sandwich chain, but she still relies on her family to help pay her bills, provide food stamps, and money for her basic housing needs. By increasing the federal minimum wage it can help Americans afford basic needs without having to struggle through life.

There are only a few ways a restaurant can manage a required wage increase and maintain profits. To stay in business, low earning restaurants like Waffle Now, would have to make all sorts of budget cuts. A lot will have to be lost in order to raise server wages.

According to Gallup, a surprising seventy-four percent of Americans are in favor of an increase on the issue of the federal minimum wage, points out Eliza Gray from Time magazine (Gray 39). Liberals strongly believe “that people who work full-time should not live in poverty” (Dreier 86). America’s working poor and the economy can be better off if the minimum wage increases.

I think a better alternative to minimum wage for low to moderate income families is to expand the earned income tax credit (EITC). I believe this would be more beneficial because eligibility is based on total income of the family and factors in their number of children rather than being based off an individuals income. I think that if EITC increased and wage subsidies increased it would promote business, create jobs, and encourage employers to raise wages. Another solution would be to give small businesses tax reductions giving the owners incentive to higher more employees and counteract job loss that raising minimum wage brings. An alternative to rent control is subsidized housing for low-income families. It is available to those making

New York is another state that plans to raise the minimum wage to $15. According to a study conducted by the UC Berkeley Labor Center, the minimum wage raise would generate a 23.4 percent wage increase for 3.16 million New York workers. (Michael Reich et al). The standard of living, purchasing power, and productivity