The Benefits Of Raising The Minimum Wage

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

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.

Picture this: You are a single parent of two, you work 40 hours a week plus occasional overtime at a minimum wage paying job, you struggle to put food on the table to feed your family, and then you receive a call from the bank saying that your home is being foreclosed. This is the situation faced by thousands of Americans every year due to low income and wealth inequality. The federal minimum wage (FMW) as of April 2014 is $7.25, which is not enough to keep a family of two above the poverty line. There are certain questions on this topic that should be addressed, such as why is poverty and wealth distribution an issue in the United States today? Should the FMW be raised and why? How would raising the FMW affect American families? What are

Since 1938, when the minimum wage was first introduced (at a rate of $0.25 an hour), the federal minimum wage has increased 22 times. The minimum wage is the salary floor, or the lowest possible rate that employers can pay employees.

Many people wonder if a raise in the federal minimum wage would help or hurt American. The federal minimum wage was introduced in 1938 during the great depression under FDR. It was initially set at 25 cents per hour and has been increased by congress 22 times. No we should not raise the federal minimum wage because it would hurt small businesses, increase competition between worker, and increase prices of good.

I personally feel that the increase in the federal minimum wage law would cause more problems in the economy. Raising the minimum wages would cause more unemployment with in American’s today. This would occur because; with the minimum wage law set at $7.25 it is an amount that can be evenly distributed to workers without further education or degree of any kind reasonably. If the minimum wages did increase then everything thing else around would also have to increase the evenly distribute the money going around, therefore limiting the jobs available to those unemployed.

The federal minimum wage has been raised 22 times since it was first put into place in 1938, and today’s minimum wage is $7.25 per hour. Today’s minimum wage is

The federal minimum wage was introduced to the United States in 1938 during the Great Depression. The minimum wage was at first $.25 and has since been raised 22 times by Congress. The last time the federal wage was raised by President Obama to $7.25 back in 2008 . However, this low wage has been a problem for those just trying to support their families and dig themselves out of poverty. Raising the minimum wage will not only help these families that are working hard to live a good life, but also hard-working individuals .

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

Many people want the Government to increase minimum wage so they can earn more money. What they don’t understand is all the consequences that the impact of raising minimum wage would have on our economy and the poor people in society. Sure it would guarantee you more money but it doesn't have a positive effect on the people it is suppose to help. A minimum wage increase would force businesses to cut the unskilled workers forcing more of them into poverty, which will ultimately hurt them when the price of goods go up.

In 1938 President Franklin Delano Roosevelt established a federal minimum wage of $0.25 per hour during the Great Depression. Congress has raised the minimum wage 22 times. The last increase was in 2009 when Congress raised it from $6.55 to $7.25 an hour.

The most prevalent and steadfast myth surrounding the raising of the federal minimum wage is that it will doom the economy. This might seem logical at first, but just think about it for a second. Why do minimum wage employees need more cash? The answer is simple: To spend it, to buy the things that they and their families need to survive. “Most minimum wage workers need this income to make ends meet and spend it quickly, boosting the economy. Research indicates that for every $1 added to the minimum wage, low-wage worker households spent an additional $2,800 the following year” (Fair). Furthermore, EPI estimates that if the federal minimum wage were raised to $10.10 an hour, it would result in over

The article begins with a strong claim: all researchers investigating the minimum wage agree, raising the minimum wage will reduce poverty. Konczal then dives in explaining that raising the minimum wage 10% reduces those living in poverty by 2.4% and in doing so does not require government tax or intervention. The author then addresses economist, David Neumark’s research, who claims the exact opposite would happem. After looking into Neumark’s research, Konczkal finds the study lacking in the proper state and yearly fixed effects, and weak, proving Neumark’s conclusion invalid and outdated. Then, economist James Tobin’s argument in 1996 is addressed, it states that the advantages of raising the minimum wage outweigh the possible slight loss

Money. It makes the world go round. No matter how hard one may try, it is nearly impossible to get anything done without money. From good to services, money is an essential in this society. While some people acquire money by doing little to nothing, most must work to get money. Some people make high wages while others make significantly small ones. A pressing political issue is whether or not the federal minimum wage should be increased in order to aid these low wage workers in moving up the econimc ladder. While this proposal sounds like it is in the best interest of low wage Americans, it does more harm than good. The federal government should keep its minimum wage at $7.25 instead of raising it to the proposed $15 in order to encourage social mobility and aid the U.S. economy.

Why doesn't the government raise minimum wage ? This is one of the most frequently asked questions in our modern day society. The price of everyday items such as food and clothes the price of rent, mortgage, gas, water, trash, electricity, etc has risen so much that even with the current boost our minimum wage had it is still not enough for some people to make a fair amount for proper living. The minimum wage we currently have does not do much to help those in poverty or close to it. In fact the “gap between the rich and everyone else is growing currently.” According to the website U.S.News “The widening income gap also has fueled a class-based social disconnect that has produced inequitable educational results. "Now, your family income matters more than your own abilities in terms of whether you complete college," said Robert Putnam, the Peter and Isabel Malkin Professor of Public Policy at Harvard Kennedy School. "Smart poor kids are less likely to graduate from college now than dumb rich kids. That's not because of the schools, that's because of all the advantages that are available to rich kids." This is the sad truth about our current economy the need for money is so great that is no longer matters how great of a student you are with money you can be the worst student ever and still graduate from college.