Increasing Minimum Wage Essay

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Also depending on where you live and how fast you grow, you will need to buy a variation of clothes for the winter and summer. With a family of four, it is almost incapable of happening. An average article of clothing cost anywhere between $15-30 for one piece. That is more than 2 hours of work. Imagine that, plus only getting an average of $290 a week. That will not last very long, which is very irritating to some people because they don’t want to let their family down, but raising minimum wage will help that tremendously. Another example that could take place is in an emergency like needing to stay late for work, and needing someone to babysit your kids. Many people cannot afford to do that with such little pay and have no choice but to leave work on time. With that happening and many not staying, that could cause them to lose their job, resulting in more poverty. To continue, minimum wage was created to stimulate the economy in 1938 (Sonn, Temple 1). Once minimum wage became a policy in the United States, it was successful in stimulating the economy when it was created because the federal minimum (if adjusted for inflation) was higher than today. Over the past 40 years, the power of minimum wage has fallen sharply. Minimum wage now, is about ⅔ percent of its previous power. The annual salary of a full-time American worker employed at $7.25 per hour is $15,080, which is less

Did you know if minimum wage were to raise, unemployment rates would dramatically increase because employers would not want to over staff knowing that consumers are going to be smarter with spending their money. I have read two articles regarding rising minimum wage one called There Is a Moral and Economic Case for Raising the Minimum Wage and the other Minimum Wage Laws Are Immoral and Harmful regarding rising minimum wage and whether this act should be passed or not. Minimum wage should not be raised because it will decrease living funds, encourage inflation, and raise the unemployment rate. If minimum wage goes up, everything else would raise with it and that’s where everyone’s money would go.

To begin, there is an extensive debate over whether if the U.S were to raise minimum wage, could it really help the working poor of low income families. Nancy Cook, in her article from the National Journal, “Why a Minimum-Wage Hike Can’t Help the Poor”, she points out that two thirds of around 100 surveys from 2007 had a negative effect and that it does more for the middle class than the lower one. (p.14). So, therefore, from her

Fast food workers around the country are fighting to raise the hourly pay minimum wage and their union rights.

The increase of minimum wage could lead to a better quality of life. Many had lived barely paying for the minimal necessities such as shelter, food, water, clothes, etc. The topic of

"No family gets rich from earning the minimum wage. In fact, the current minimum wage does not even lift a family out of poverty."

Raising the minimum wage is a very important public policy issue. Raising the minimum wage is a responsible policy that is supported by research and demanded by the American public. Each day, minimum wage workers across the country struggle to make ends meet and provide a decent life for their kids (Scott & Perez, 2016). Raising the minimum wage is a controversial issue, many believe that raising the minimum wage would only provide low wage workers more money to spend. However, the benefits can be endless for low wage workers. If minimum wage is increased across the United States it would afford the people effected more opportunities for financial freedom. Increasing the minimum wage would raise the standard of living for low wage workers, allow families to be removed from poverty, allow for government welfare spending to be reduced and lastly additional income being spent would positively affect the economy.

As the presidential election approaches, topics like whether illegal immigrants are taking American jobs and rising the minimum wage have frequently surfaced on the front page of our daily newspaper and dominated our social media feeds. While these issues have numerous political implications, the center of the discussion is essentially about labor which leads to production, money, and driving the economy. Looking at labor, it is really important to examine labor supply because it shows the number of people willing and able to work in a particular job for a given amount of money, or wage. The number of people willing to work influences how much the economy can produce in terms of physical products and nontangible services like teaching. A labor supply curve is drawing out and connecting

In 2009 when the federal minimum wage was increased to $7.25 per hour, this is the last time that the minimum wage for Wisconsin was increased. I for one as a college student have a hard time paying for college only making around minimum wage. Other adults that have families and that are working for minimum wage have a much more difficult time providing for their families and paying for all of their expenses. In many cases some of them work two jobs just so their family can some extra money to do other activities. You have stated that helping people get careers that pay more than minimum wage is what you want to focus on, so there is no reason to increase the minimum wage for Wisconsin. I believe that the minimum wage in Wisconsin at this time is not high enough to pay for the average person’s lifestyle and should see a small increase to reduce the poverty in Wisconsin.

Moving along the list of advantages, increasing the minimum wage will also increase the amount of money workers have, which, in turn, will inspire them to increase their consumption and pump their extra money into the economy. If workers have more money going into their pockets from increased wages, the income effect comes into play, and provides an incentive to go out into the market and buy goods and services. In an article printed by The New York Times, it was also pointed out that raising the minimum wage would decrease labor turnover. This is because if workers are paid more, they have less incentive to leave their current job and seek a higher paying job.

Jason Furman and Parrot Sharon explain why raising minimum wage will help families. The wage has to be elevated to just the point where a family can actually afford all the necessities they need in order to survive. The cost of living in houses for poor people makes it difficult for them to afford it and is difficult to stay on task with all the bills. Many minimum wage workers have families to support. The cost of raising children is very expensive. It is an average of $7,100 per year. Minimum wage workers can barely afford to pay child care for one child, let alone two. Increasing minimum wage will also make life easier to those who have food stamps and child care needs. Which can also help them get into college a lot faster so they can go out and pursue a better paying job.

A bill increasing the current minimum wage is greatly needed, and our government officials should demand a raise due to the increase in the cost of living, as it’s no longer realistic. We need higher paying wages for all, middle and lower class income levels. Without some sort of help and support from our government the economy will only get worse. Students will not be able to afford the cost of school and living. Single family households will not be able to support their selves.

Because payroll- and income-tax revenues would rise, the federal deficit would come down. Social Security worries would fade.” (James Galbraith.) In this manner, raising the minimum wage is a family friendly position, and families are the backbone of this nation.

Congress enacted the federal minimum wage in 1938, during the Great Depression. Congress had two goals; keeping workers away from poverty and boosting consumer spending for economic recovery. Today, there is a debate, whether we should increase the minimum wage again. Increasing the minimum wage is useful for several reasons. First, the current minimum wage has failed to keep up with inflation. Second, a higher income level reduces employee turnover and increases efficiency and ultimately, raising the minimum wage does not reduce employment. Even with high unemployment rates, the minimum wage is useful for the economy.