The Regulation Of Minimum Wage

“The minimum wage is the minimum hourly wage an employer can pay an employee for work. Currently, the federal minimum wage is $7.25 an hour (part of the Fair Labor Standards Act) and some states and cities have raised their minimum wage even higher than that.” minimum wage was first introduced during the great depression in 1930s. Before it was introduced thousands of people were forced to work in horrible conditions for pennies a week. Early attempts on minimum wage was ruled unconstitutional by the U.S supreme court, because it restricted people from deciding what they wanted to pay their workers. So employers still made there workers, work in horrible condition through the great depression. Now that poverty is a huge national issue. President Franklin D. Roosevelt made sure he would protect workers it was part of his mission as the president of the united states of america. After being reelected in 1936 he signed the FLSA in 1938. Which put into place a national minimum wage of 25 cents an hour. After the law was passed the minimum wage was changed almost every couple of years because the cost of living is very high. In 1997 bill clinton allowed states to make there own minimum wage. Today the minimum wage is 7.25/hour there is continuing debate over whether that 's a fair amount of money to support someone there days. Labor activists want the government to raise it while other point out the negative effects it would have on the

Ira Knight, who is an author of article “Let’s Make the Minimum Wage a Living Wage”, expresses an opinion that increasing the minimum wage would help all struggling workers and at the same time improve U.S economy. On the other side, Janice Steele in her article “Keep the Minimum Wage Where It Is” argues that raising the minimum wage would have bad effects on workers, consumers and small businesses. Ira Knight’s article seems to be the stronger of the two positions because her arguments are based on several recent studies, and last but not least, she had a personal experience with the minimum wage job.

One of the most talked about subjects in the U.S economy is the topic of minimum wage. With president Obama’s increase in the minimum wage to 10.10$ per hour people, both economists and politicians alike, have been debating whether raising the bar is a smart idea. At a time when the country the country’s inflation continues to rise at a steady pace and Americans are constantly working to feed their families, some economists know that a raise in the minimum wage would help elevate some of the difficulty. The last time the federal minimum wage was raised was in July of 2009, where rose from 6.55$ to 7.25$. However, there are plenty of reasons as to why the wage should be raised. Some may not think it, but raising the

The issue of the minimum wage has recently come to the forefront of the debate on social policy. There is much disagreement over the wisdom of an increase in the minimum wage in the current fragile economic recovery. Some argue that a dramatic increase is what is needed in order to lift the standard of living for those in the bottom of the economic pyramid. Economists reason that the basic principle of supply and demand mandates than an increase in the wage would result in the loss of available jobs. Small businesses maintain that it would spell their doom.

An increase in the minimum wage would push companies to take this route as it becomes more and more profitable to them. The end result of all of this would be a suddenly increased level of unemployment bound to become subsequent with an increase in government-funded welfare expenses, weakening the economy even more.

The controversy over what to establish as the official minimum wage in the United States has been debated and argued over for many years. Due to inflation, the gradual increase of pricings due to a saturation of printed currency, the minimum wage for workers has to be increased in order to compensate for the ever-fluctuating value of the U.S. Dollar. Many today are rising to the conclusion that a minimum wage of fifteen dollars an hour is necessary. This motion is designed to keep those who have minimum wage income out of poverty and to increase the amount of money in the consumer’s pocket overall. However, this particular increase in minimum wage will lead to the inevitable downfall of the United States’ economy and be a catastrophe for the working class.

The minimum wage requires employers to pay their employees a minimum amount of money which is based on the current version of the law, which is raised every year to adjust the living costs. There are some advantages and

We all need money. We need it to buy food or to pay for bills in adult life. It is a necessity for us to survive in this world. The minimum wage law was introduced in 1938 during the Great Depression as part of the Fair Labor Standards Act. These laws require employers to pay an employee nothing less than a set amount . The first wage set was 25 cents per hour, and recently in 2009 to $7.25. Congress only raises the minimum wage when the economy is healthy, mainly when there is low unemployment (Sherk). Ultimately they should not increase the federal minimum wage. It hurts the less fortunate, it keeps people below the poverty line and creates unemployment.

Minimum wage is the least amount of money that an employer is legally required to pay an employee. It is something that all people in the American workforce know about. It was made to prevent the employer from taking advantage of employees. It is what creates the bare minimum standard of living for the 73.9 million hourly wage workers in the United States. However, there are many different jobs with varying amount of skills that are needed for those jobs. This is where the problem arises because a worker may still be under paid for the job that they do. This problem splits the population into two main groups, one that wants the minimum wage to be raised and another that wants the minimum wage to remain the same, or to even be abolished.

Businesses simply can not afford to pay their employees more money for low skill jobs. According to the Congressional Budget Office, 38% of employers who currently pay their employees minimum wage said they would lay off some employees if the minimum wage was raised. Raising the pay may benefit a few employees, but it will also devastate the workers laid off. People putting in their resumes will have a much slower rate in getting jobs. As a result, the unemployment rate will increase and people will have to resort to relying on unemployment and welfare to pay their

Minimum wage is one of the biggest issues facing American society today. The government has been involved in the minimum wage of workers for more than a hundred years, so government and people have debated about what should be the minimum wage that would advantage the economy and society in total. But unfortunately, after a long time arguing about this problem nothing change and the American worker and breadwinner are still struggling with their income, so the big problem for the American society at present is the minimum wage that needs to be resolved and not forgiven, as the community is now witnessing. However the United States of America is the most powerful country in the world, but which has not respected people’s social issues for

Minimum wage is an hourly wage rage that is set by law. Some states and local governments have established higher minimum wages for American workers. Some localities have passed living wage rules that mandate hourly wages higher than minimum wage for employers doing business with city government, (minimum wage). Some supporters on minimum wage say that they are important because they have found social welfare programs that help welfare

As mentioned in the introduction, minimum wage is the lowest wage rate an employer can pay an employee. Most employees

There should be government regulation in business and job wages because as shown by Germany’s successful governmental regulation policies, Adam Smith’s The Wealth of Nations, and Richard Nixon’s Address to the Nation on Labor Day from 1971, government regulation in job wages is beneficial for almost everyone.

In the United States, minimum wage has remained at a low number for several years. Minimum wage is defined as the lowest possible income that an employer can legally pay an employee. This ensures that all people are fairly paid and not defrauded by companies or businesses. Minimum wage is considered a price floor and the minimum wage laws determine the lowest price possible that any employer must pay for labor. In an economic model, the quantity of supplied is greater than the quantity demanded and the minimum wage is above equilibrium price and quantity. Minimum wage prevents labor supplied and labor demanded from moving