Minimum And Livable Wage Term Paper

In 1936 by President Roosevelt who signed the Fair Labor Standard Act(FLSA) making a federal minimum wage of .25 cents an hour (equivalent to $4.18 today)(Grossman) in order to maintain a “minimum standard of living necessary for health, efficiency and general well-being, without substantially curtailing employment”. This wage only affected about 20% of the entire labor force. The Fair labor Standards act was not always looked at being the best way to go, when it was enacted just like in today 's society it was fought against to raise the minimum wage. Many corporations were arguing against the creation of the

Concerning the wage rate, the United States government has intervened to maintain a lower limit on the hourly wage rate of a worker’s labor by implementing a price floor known as the minimum wage rate. This legal floor on the market price of labor sets a minimum hourly pay rate for workers in the United States. Effective July 24, 2009 the federal minimum wage rate is $7.25; in states that also have minimum wage laws the employee may be subject to both federal and state minimum wage laws, in which case they are entitled to the higher minimum wage rate (U.S. Department of Labor Wage and Hour Division, 2011). Since the Fair Labor Standards Act (FLSA) was created in 1938 the federal minimum wage rate has gradually increased from $0.25 in 1938 to $7.25 present (U.S. Department of Labor Wage and Hour Division, 2011). Although continuing to increase the minimum wage rate may include potential positive factors, it would hinder the U.S. economy overall.

There has been many conversations about what the positive impacts can come to America 's lowest income workers as a result of an increase in the minimum wage, and there has also been equally as many discussions over the negative effects the increase can have on similar people. This paper’s purpose is to combine each viewpoint and objectively analyze the arguments for and against an increase in the minimum wage. I will first discuss the benefits for an increase, then the disadvantages, and in the last paragraph, I will

In today’s economics minimum wage is used as a price control or price floor that the government enforces. A price floor is a minimum price for a product or service above the market’s equilibrium price. Selling any product or service sold below the price floor is considered illegal. Since the price of a commodity or service is increased the demand will go down lower than the quantity supplied creating a surplus. This theory also creates a surplus in employment. When minimum wage is increased or a price floor is set there will be a surplus of employees and the demand for workers will decrease. Well in order to accurately determine whether the minimum wage employees are receiving is enough to maintain a minimal lifestyle, we must first understand how the minimum wage is calculated. According to the United States Department of Labor, “federal minimum wage for covered nonexempt employees is $7.25 per hour effective July 24, 2009. The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA).” The Fair Labor Standards Act is a set of standards pertaining to youth employment, overtime pay, and other laws that affect employees within private and public

On Saturday, June 25, 1938, President Franklin D. Roosevelt signed 121 bills. Among these bills was a landmark law in the United States’ social and economic development—Fair Labor Standards Act of 1938 (FLSA) or otherwise known as the Wages and Hours Bill. This new law created a maximum forty-four hour workweek, guaranteed “time-and-a-half” for overtime hours in certain jobs, banned oppressive child labor, and established the nation’s first minimum wage. By definition, a minimum wage is the lowest wage permitted by law or by a special agreement (such as one with a labor union). Throughout the years, the minimum wage has been a central debate topic for the socioeconomic world and now in 2014, the debate has broken through the surface once

The minimum tipped wage should be raised. There are many reasons that an incease is due. The tipped minimum wage has been the same since 1991. And yet, the cost of living continues to rise. It has risen by 75% in the past 27 years due to inflation.

It's still a relatively new topic, minimum wage. Introduced in 1938, by President Franklin Roosevelt, it was a part of the creation of the Fair Labor Standards Act (FLSA). This act established “minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers.”(United States Department of Labor). At the present time of 1938, 25￠was quite a significant amount of money. However, now, the federal minimum wage has been set at $7.25 by President Obama in 2009. Within the past seventy years, many states have desired to raise their own minimum wage higher than that of the federal minimum. Presently, twenty-nine states have elected to pay their workers more rather than giving them the short-end of the stick.

In order to reduce income inequality, increase people's economic security, and help get people off food stamps, the government should increase the federal minimum wage. The average CEO makes 774 times the amount of a full-time minimum wage worker according to Cathrine Dill from forbes magazine. If minimum wage increased to $10.10, that number would decrease to 559. Although it’s not much, it still reduces the income inequality between the rich and poor people in America. Also, increasing the minimum wage will increase people's economic stability. Alternet.org states, “It is no longer the case that the people making the minimum wage are largely teenagers. In fact, now more than half of workers earning under $10.10 an hour are forced to support

The minimum wage must be raised because the cost of living has gone up considerably. Education is necessary if someone wants to work, and the cost of education has gone up dramatically in the last twenty years. Companies should be paying workers what they need, and that is considerably more than what the minimum wage is now. If the minimum wage were to increase, it would raise the wages of lot workers and increase benefits to workers with disadvantages.

The minimum wage has constituted a hotbed issue in America ever since its beginning in 1938 via the Fair Labor Standards Act (Acs et al, 2914). Notably, in the past few years, fast food workers, service industry employees and American workers feeling the pinch of inflation have clamored for an increase in the minimum wage. The concept of a $15 minimum wage is a symbol for creating less disparity for minimum wage workers. However, while the concept is pure of heart and idealistic, it would be dangerous for the U.S. economy. This can already be seen in places like Seattle, Washington, Emeryville, California. Consumers would suffer as businesses would be forced to raise prices in order to make up the difference from the added human resources expenditures

Minimum wage should be lowered for the purpose of getting people who just got hired for a job comfortable with the job and being responsible for what they are doing. Especially for teenagers, who may be getting their first career jobs and are not sure what they are really doing. A teenager who just got their first job should not be getting the same amount of money than someone who has had a job their whole life and may be working harder than the other. Minimum wage should be lowered so small businesses do not have to pay so much money to the employees which could cause the business to close down due to a loss of money. If minimum wage was lowered than more jobs would open up for people since the business would not have to pay a lot of money

How would you feel if you receive your 2 week paycheck and realize it was only $15.00? How is this even possible? Become a server at a restaurant and that is typically how much your 2 week pay check would be. I will be talking about why I think servers should get paid at least minimum wage. I will be educating your on cash and credit card tips, things servers do besides taking orders and working with rude customers.

The law was controversial amongst business owners who were required to pay workers minimum wages based on hundreds of different industry codes. The codes created confusion amongst workers as well as corporations and resulted in situations where workers were making different hourly rates at different times of the day (Jones, 2011). The NIRA was eventually ruled unconstitutional by the decision in Schecter Poultry Corporate v. U.S in 1935. Finally, Congress passed the Fair Labor Standards Act of 1938, the last major piece of the New Deal legislation, which was signed into law by Franklin Roosevelt. The FLSA was the first blanket federal minimum wage law passed by Congress, which covered workers in nearly all industries. The touted benefits of a federal minimum wage were stated by FDR, “I laid down the simple proposition that nobody is going to starve in this country. It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country” (Roosevelt, 1933). Roosevelt wanted to be clear that he did not define a living wage by the ability to survive rather that those receiving a minimum wage should be living in some level of comfort. The FLSA of 1938 established a minimum wage of “$0.25 an hour for the first year, $0.30 an hour for the next six years, and $0.40 an hour in particular industries” (“Fair Labor Standard…”,

In today’s society a lot of the different countries around the world have established some sort of minimum wage. The first minimum wage law in the United States was established in 1912 in the state of Massachusetts. Several states would follow suit over the next two decades, and, in 1938 at the height of the Great Depression Congress established the first federal minimum wage as part of the Fair Labor Standards Act (FLSA). The minimum wage was last increased (to $3.35) in 1981. Since then, average hourly wages have risen by 25 percent, eliminating any momentum for a lower minimum wage for youth but reviving proposals for another increase in the nominal minimum (Brown, 1988).

IT PAYS (A LITTLE MORE) TO FLIP BURGERS DOWN UNDER (6th ed., Vol. 162, pp. P99-101; p3). Newsweek Global.