This Study Focuses On How The Minimum-Wage Serves As A

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.

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.

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

Raising minimum wages is a contestable issue because it is debated in wide and varied audiences. Minimum wage is near the top of economists’ interest; they are looking for the connection between low wages and poor job markets. Each country sets its own laws and regulations regarding wages. For this reason, it has significant importance to policy makers and workers in each of those respective countries. Social activists have also found interest in the topic due to the fact that those who earn a minimum wage tend to come from poor minority families. Furthermore, the average American should have the strongest interest in the conversation because most citizens have been paid a minimum wage at some point in their life. Due to this fact, the idea of a significant federal minimum wage increase in America is open for debate specifically to rejuvenate the job industry, improve living conditions for citizens, and strengthen the economy as a whole.

Raising the minimum wage would establish 85,000 new jobs and would also increase amass household spending by $48 billion the following year (“Should the Federal”). There are no signals shown that a boost in the minimum wage would lower employment. Even though people argue that the authors found “Little or no evidence of negative association

Millions of Americans live in poverty unable to find high paying jobs to support themselves and their families. A common belief is that paying a higher minimum wage would help lift people out of poverty by giving those with low paying jobs a higher income, however the evidence suggests otherwise. The 2016 race to the White House heating up, the minimum wage battle is at the forefront of every economic discussion. The rhetoric between candidates within and across party lines is intensifying. Many differing opinions are being heard. As the debate over whether or not to raise the federal minimum wage from $7.25/hour to $15/hour rages on, one side stands apart time and time again.

Over that time, the value of a minimum-wage income has fallen nearly 10 percent due to rising prices. Yet this decline is small in comparison to the drop in value of the minimum wage over the past four decades. After rising in line with economy-wide productivity in the three decades following its inception in 1938, the federal minimum wage has been raised so inadequately and so infrequently since the late 1960s that today’s minimum-wage workers make roughly 25 percent less in inflation-adjusted terms than their counterparts 45 years ago.” The raise of past minimum wage was to help people that lived during that time frame. For example the crash in 2009 had a bad effect on America and its economy, which is when the minimum wage was

The concept of minimum wage has been a huge issue among Americans and has really become a large discussion point among a lot of the political debates as well as the Internet recently. According to the United States Department of Labor, “The federal minimum wage is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws. Some state laws provide greater employee protections; employers must comply with both”. Regardless of the constant debates that occur on whether or not minimum wage should be a livable wage or merely a segway job for teenagers, a majority of these workers are older than 25 years old. As reported by the U.S. Bureau of Labor Statistics in 2014, of the 77,207, 61,883 of them are 25 years of age are

. Burkhauser found no evidence that minimum wage increases were effective at lowering overall poverty rates or poverty rates among workers. Even by targeting populations that raising the minimum wage was supposed to protect, such as less educated single mothers, Burkhauser confirms that minimum wage increases did little to alleviate poverty for less educated single mothers as well. Additionally, David Neumark of the University of California-Irvine and William Wascher of the Federal Reserve Board analyzed family-specific flows in and out of poverty as a result of an uptick in the minimum wage. Neumark and Wascher used current population survey data and found that when the minimum wage was increased some workers were lifted out of poverty, but others lost their jobs and found themselves in poverty as a result of raising the minimum wage. Neumark and Wascher’s findings suggest that minimum wage hikes only redistribute income among the poor and near-poor households. Only junior high school dropouts seem

Each year that the minimum wage figures stay stagnated at a specific number in nominal dollars, the reality of inflation slowly bites in as its real value is gradually adjusted and in the long run minimum wage earners are left with payments that cannot sum up or fulfill their household and other personal needs. On analysis of this fact, it is evident that the well-being and living standards of minimum wage workers is highly threatened especially for those people who have families and in this earning bracket. Currently, at a minimum wage rate of $7.25 per hour on a full time basis does not necessarily negate to the fact that they get to cross the estimated government poverty line on an all rounded annual basis. Comparing the current status and the 1960s value rates, the wage income is not enough to cater for the needs of a woman together with her family simply

Proponents of raising the minimum wage claim that if the minimum wage was raised, then many economic and social problems would be alleviated. This contention is at odds both with economic principles and years of creditable research. The effect of raising or even having a minimum wage has been studied extensively and the majority of studies have proven that raising a minimum wage does not have the desired effect. Both micro and macroeconomic forces affect the results of raising the minimum wage. The secondary effects of raising the minimum wage are bad both for

Workers from around the world no matter the culture, country, or type of job believe that increasing the minimum wage would solve individual financial problems. It is important to know that this subject is not a black-and-white problem and can not be answered by a simple yes or a no answer. This article will be focusing on the minimum wage in America. Furthermore, we are focusing on the State 's minimum wage rather the Federal minimum wage. It is important to understand that the state 's minimum wage is different than the Federal. In some states it may be higher or lower than the Federal, and other states in comparison. Although increasing a state 's minimum wage would have a positive effect on individual workers, it may have a negative and long-lasting effect on the state’s cities and its economy.

Policymakers in the United States continually struggle to create viable and sustainable solutions to the poverty outbreak that is prevalent in our country. This has become a critical part of the road to recovery from the recent economic recession. One of the main approaches suggested to eradicate the pervasive poverty problem is increasing the minimum wage of American laborers. If adopted, this suggestion is expected to be implemented at both the state and federal levels. This approach is based on good intentions as it is projected to have positive effects on the employment, wages and overall poverty levels in the country. However, increasing the minimum wage will only hurt the low-income earners, less-educated and experienced

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

This paper examines the effects minimum wage have on the poverty level. Decades of research has provided evidence that an increase in minimum wage does not lower the poverty level. Other studies about the minimum wage and teen unemployment rates was also introduced by various authors. The poverty level in the United States (U.S.) has a ratio of 1:7, which means there is over 40 million people living in poverty. Compared to other countries, the U.S. poverty level is a lot higher, with the only exception being Mexico (sitemaker.umich.edu). Additional studies suggests that an increase in the minimum wage will generate a decrease in employment. This paper explores whether or not an increase in the minimum wage affects teen unemployment, decrease