Minimum Wage Issue

One of the biggest political topics in today's society is the federal minimum wage and whether it should be raised or kept at where it is now at $7.25 an hour. Arguments could be made for both sides on whether it should be raised or left alone. The majority of minimum wage in today’s job market are unskilled positions. Minimum wage jobs were created for teenagers and colleges kids as a way to get into the workforce and to have a little extra money for themselves. It was not designed to be a wage for people to live on. Increasing the minimum wage would hurt the economy by hurting small businesses, a huge loss of jobs and it would increase the competition between teens and adults. Overall if the federal minimum wage is increased it will have many negative effects on the economy.

The minimum wage debate has been a hot topic over the past year, especially with the Presidential Election. This is a divisive topic that people rarely agree upon. There are essentially two sides you can take when it comes to this argument. Either people are for minimum wage or are against raising, or even having, a minimum wage. Proponents of the minimum wage are typically politicians who are lobbying for the vote of the people who feel that a minimum wage is critical to their wellbeing, and those who sympathize with people who earn “minimum wage”. Minimum wage is destroying America’s free market economy and someone needs to take action and find a better solution to this problem. Without anyone acting on this problem now, it can potentially be worse in the long run. Raising the minimum wage in the United States will do more harm than good to society because of the long-term effects.

The statistics, which Ira Knight cites are clear and show that increasing the minimum wage would help millions of people. U.S Bureau of Labor

The first federal minimum wage mandated by the government was in 1938. When the first minimum wage became law in 1938, it was set at just 25 cents. Today, the federal minimum wage mandated by the government is set at $7.25 an hour. “Many states have their own set minimum wages, which are currently above $7.25 per hour already. Currently, 29 states and the District of Columbia (D.C.) have minimum wages above the federal minimum wage of $7.25 per hour. D.C. 's new wage of $10.50 an hour makes it the first jurisdiction to cross the $10 threshold among the states,” (Halvorson). The last time that the federal minimum wage mandated by the government was changed was over 8 years ago. “The last time Congress voted to raise the minimum wage to its current rate of $7.25 an hour was on May 24, 2007. Since then, the cost of life 's essentials has shot up. Groceries cost 20% more, a gallon of gas costs 25% more, and average tuition at a community college increased 44%. But the minimum wage remains at

In 1938, the first national minimum wage laws in the United States were passed as part of the Fair Labor Standards Act, which served as “a floor below wages,” to reduce poverty and to ensure that economic growth is shared across the workforce. Today, many people who work for companies that pay at or near the minimum wage and remain near or below the poverty level rely on government health and food security and income programs to supplement their living expenses. Since 1938, there have been many additional policies to the Fair Labor Standards Act that have changed many things, such as increasing the national minimum wage numerous times to the currently salary level, which was set in 1997. The Fair Minimum Wage Act of 2007 was a policy to change the federal minimum wage from $5.15 to $7.25 in three additions, which began in July of 2009. (http://www.dol.gov/whd/regs/compliance/posters/minwagebwp.pdf)

Americans are worried about how the minimum wage will be change to best fit everyone’s needs. There are 45 million families living in poverty that can’t get out no matter how hard they try. The economy will undoubtedly be affected if the minimum wage will be changed raising of the minimum wage will reduce the amount of some jobs. Over the years inflation has caused controversy on how the minimum has not gone up with it. Additional actions will be needed to take people out of poverty then just raising the minimum wage. In order for there to be a smooth transition there needs to be more done before just raising the minimum wage. One looking through the economic lens can see that this a huge topic and very contraversonal.

The minimum wage in the United States has been an ongoing controversy for many years now. The first minimum wage was established in 1938 (Reich, 2015, P. 3). That minimum wage started out at .25 cents an hour; compared to today’s higher wage of a government standard of $7.25 an hour. Many people believe that the minimum wage should be more so that those who live below the poverty level in the United States will decrease, however in many other people’s opinions the minimum wage should be the same. The minimum wage should stay the same at a low $7.25.

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

Michigan's minimum wage is currently placed at eight dollars and fifty cents an hour and will be rising for the next couple years (Minimum Wage, 2016). Minimum wage laws are still a controversial topic among economist and are commonly utilized in campaigns as a promise to help the poor but how does this price floor impact the industries it affects. This paper will explore Michigan's current minimum wage law, its conception and history, the problem it was supposed to fix, it's effectiveness in solving the problem, how it helps and hurts the economy, what it costs and its unintended consequences, and my beliefs on Michigan's minimum wage

The government has set a minimum wage for labor market, businesses are forced to pay the least amount. An individual working full time only earns $15,080 due to the minimum yarn of $8.05 per hour, this is below the federal poverty level for a family of two. They will have a difficult time supporting a household. With minimum wage it is not enough to pay bills like energy, water, cable, health insurance, and our necessities. As a student, I know minimum wage is not enough to pay school owns or tuitions, that is the reason why most students are in dept. Many people will get a second job. Even though having two jobs to support their family and household, it is still not enough with minimum wage. We all have responsibilities and many bills to pay.

If a family in the US belongs the top 40th percentile of income distribution, it would have accumulated wealth over the last two decades; however, if it falls in the bottom 60th percentile of income, the family wealth declined (DeBold et al.)While income is a flow item and wealth is a stock item, the former is needed to survive, and the latter is needed to flourish. After all, earnings from wealth can offset income from employment. Nowadays, more people are struggling to make ends meet because of job loss and minimum wage, and our efforts to solve this issue have been futile. ‘“We’ve been fighting a war on poverty for 50 years and [we have] failed,"’ said Oregon’s District 54 Rep. Jason Conger (qtd. in Kullgren). The issues of minimum wage

In 1938, the first national minimum wage laws in the United States were passed as part of the Fair Labor Standards Act, which served as “a floor below wages,” to reduce poverty and to ensure that economic growth is shared across the workforce. Today, many people who work for companies that pay at or near the minimum wage and remain near or below the poverty level rely on government health and food security and income programs to supplement their living expenses. Since 1938, there have been many additional policies to the Fair Labor Standards Act that have changed many things, such as increasing the national minimum wage numerous times to the currently salary level, which was set in 1997. The Fair Minimum Wage Act of 2007, from the United States Department of Labor Wage and Hour Division, was a policy to change the federal minimum wage from $5.15 to $7.25 in three additions, which began in July of 2009. (U.S., 2009).

Minimum wage introduced by the congress as the subdivision of the Fair Labor Standards Act (FLSA) in 1938. At that time, congress set the minimum wage at 25 cents an hour. According to Tricia Hussung, Business Analyst, in 1968, adjusted for inflation, the federal minimum wage

Dealing with low wage jobs is not easy. Some people really need their money so they become in fear of losing their jobs. They always have to be nice and respectful to customers if they are giving them a hard time. If a problem occurs they have to think quickly on how to fix it because those small things become enormous. For example if a worker shows up late to work then the manger will send them home ,so they came to work wasting their time and gas for nothing. Even if the person had a great excuse they will not have a care in the world. All of these problems is for minimum wage and it is not worth it.

The minimum wage has arguably become the most controversial topic regarding our economy today, as it influences one of the largest classes of people within the United States, the working class. Federally, the minimum wage has not been raised in eight years, so it has stayed at $7.25 per hour for all non-exempt workers (U.S. DoL). The opinions on this topic are typically split across a progressive-conservative line, with progressives being in favor of a raise from $7.25, and conservatives wanting to stay at the current rate. This can be seen when looking at the typical progressive stances from states and municipalities that raise the minimum wage for businesses operating within their jurisdiction, since the higher rate among all levels of