The Importance Of Raising The Minimum Wage In The United States

The term `inflation' defines a situation in which prices are rising and the value of money is falling. The cause of inflation is due to too much money in the economy ben printed and the high rise in demand. too few goods. An inflationary spiral tends to set in. Increasing prices produce a demand for higher wages: higher wages mean that goods cost more to produce: prices must go up again to pay for the wage increases.

There are many employees who find themselves working full-time for what the government has so generously termed the “minimum wage”. In Missouri, the minimum wage has been set at a rather appalling $7.65 per hour while in other states there are wages starting as high as $10. Though arguably the economy is not as sluggish and terrible as it once was, $7.65 per hour will not help those who have children, no college degree and debts to pay. It is not only Missouri that has minimum wage laws, but every other state in America has minimum wage laws in place. Both California and Seattle recently established a plan that would see their minimum wages rise to $15 by 2021. The question for all the other forty-eight states remains, should the minimum wage be raised?

Although America is known as the richest country in the world, 43 million of its citizens are in poverty. Unfortunately, some of them work full time, yet are still in poverty due to the low minimum wage (“Should We Raise”). In 1928, the first federal minimum wage of 25 cents per hour was set by President Franklin D. Roosevelt to prevent workers from being underpaid. Since 2009, the federal minimum wage has been $7.25 (Smith). The age old debate of whether or not to raise it is still going on in the US. The federal minimum wage should be increased to keep up with inflation, help support the poor, and stimulate the economy.

Should minimum wage be increased? In my opinion, it should not be raised. But why not? If the minimum wage increases, the cons will be more effective than the pros. For a start, everyone with the higher paying jobs will want more money. Leading more money to be made and the price of goods will rise. Say right now, the minimum wage is 8.05 and if they rise it to 10$, everyone else that was getting paid 10$ an hour will want an increase as well. And it will keep going on until every job gets a raise. Also it wouldn’t be fair for the people who worked hard and some even go to college and would get paid only 10$ an hour for a start as too someone who got there first job and with no experience

Inflation has also been one of the signature conflicts of raising the minimum wage. In the past 5 to six years, the inflations levels have been at 1.5 percent (CNN money). By raising the minimum wage, should not increase inflation but help it maintain its current state. When adjusted for inflation, the current federal minimum wage would need to be more than $8 per hour to equal its purchasing power of the early 1980s and more nearly $11 per hour to equal its buying power of the late 1960s (U.S dept. Labor). That 's why President Obama is urging Congress to increase the federal minimum wage and give low-wage workers a much-needed boost.

For many years, there has been an ongoing and strong debate in the United States on whether or not minimum wage should be raised from $7.25 an hour to over $10.00 an hour. Minimum wage is the lowest amount a company or employer can pay their employees. Many argue that the benefits of raising minimum wage surpass the negatives, yet many also disagree. But as a whole, the benefits of a higher minimum wage clearly outweigh the costs that come with it. Minimum wage should be raised because it would increase economic activity, reduce poverty levels, and allow for less government spending.

As our federal government debates the idea to raise the minimum wage, there are several interesting questions that occur. Most importantly, should we raise the minimum wage? I believe it is a bad idea to raise the minimum wage from $7.25 per hour up to $10.10 or more in a short period of time. I will explain why raising minimum wage radically would kill jobs and hurt our economy.

We are arguably living in the aftereffects of a country that reached its heights of Capitalism during the Industrialization era. Prior to the introduction of machinery and railroad systems to America, the economical framework relied on a warped version of lasseiz-faire and featured wealthy descendants of British merchants who joined the colonies. Others worked menial jobs and apprenticeships to guarantee their source of income and it is safe to say that many were unhappy with their predicament --- even if they had no platform to voice this opinion. While the Industrialization Era introduced centuries of wealth to America, it also severely tipped the wealth distribution scale which can be seen extremely in events like the multiple depressions of the 19th Century and recessions in the 20th Century. In a 2013 statistic, researchers found that 53.5% of people despise their jobs. If you ask around, you 'll find that many overqualified Americans are still working menial jobs to provide for their families and that even office jobs are not that promising in terms of salary. The wealth cap for most of these citizens is around $60k~ and many, many Americans are living in poverty. There seems to be a socio-economical propaganda that is being spewed around for many years that many workers of minimum wage are lazy, entitled teenagers who have nothing better to do than sit around and collect

By raising the minimum wage some people will no longer live below the poverty line, the amount of consumer spending will increase and more people will be in better health.

The United States economy is still soft and prone to falling apart, and there is a debate that is on going as to whether the minimum wage should be increased or decreased. The minimum wage is a well known price floor, and that is what we need for our economy right now . I personally believe that we should not increase the minimum wage, but decrease it instead. I would rather have the minimum wage lowered than increased because that will only lead to negative side effects. For example, if the minimum wage is increased then the government will need to mint more money and the effect of minting more money is inflation. This will cause the American dollar to go down and worsen the economy even more. Another thought is that what the United States needs now are jobs. If the minimum wage is increased then existing jobs will want their workers to have more experience and for those people that are in dire need to a job will have a lower chance of getting the job because they

The average hourly pay in The United States is $25.73 (Table B-3). That is more than triple the minimum wage. If the minimum wage is increased, it would eliminate people’s incentives to improve. On top of that, inflation would occur, and poverty would virtually stay the same. In addition, raising the minimum wage would bring on hardship for small businesses. Of course, one may argue that the minimum should cover the cost of living, but people should have to work for their money. The minimum wage should not be raised in the United States.

Many citizens in the U.S. have struggled living with minimum wage and making a living for decades. Issues involving poverty, inflation, inability to pay bills, taking care of their family and hard labor are just some of the negatives that relate to minimum wage. People have gone as far as working two jobs to maintain stability and be able to take care of themselves and others as well. However, many officials refuse to raise the wage due to the decrease in jobs, the inability to decrease inflation and the raise of living in their state. What are the pros and cons of raising minimum wage? Will it be more beneficial than harm if the law is passed? The history of minimum wage provides a broad prospective as far as where it started and the reasons behind the laws of minimum wage. Many say that it can bring a toll to the budget and cause more issues with the inability of others to even receive jobs. The minimum wage should be raised due to conflicts with living and maintaining stability. As far as minimum wage concerns, there

There have been many questions raised about increasing the minimum wage in the United States but not many people have the knowledge to understand how their lives will be affected. People are more concerned about increasing the minimum wage into living wage. Everyone should be educated and have concerns about the politics of raising minimum wage to a living wage.

commodities increases such as milk, gas and bread. It is a rise in all prices simultaneously. Inflation is caused when the demand for something exceeds the supply. This causes the price of that particular item to go up which in turn causes wages to go up and operating costs also increase (inflation).

It is a mild and tolerable form of inflation. It occurs when prices are rising slowly