minimum wage

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 Fair Labor Standards Act was first introduced and passed on June 25, 1938 and became effective on October 24, 1938 within that bill minimum wage was first introduced (Grossman). The bill itself was an issue because the supreme court kept turning down the bill but after countless attempts, the bill was passed a year later. President Franklin D. Roosevelt introduced that bill in hopes for fair pay as he states “all our able-bodied working men and women a fair day's pay for a fair day's work” (Roosevelt). President Roosevelt basically wanted to end the injustice and inequality many workers faced when receiving payment. Minimum wage has been and is currently an issue because of the augmentation on the cost of living and low income many workers

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 minimum wage was established in the United States by the Fair Labor Standards Act of 1938 at 25 cents per hour. These laws are broadly supported by the public. Congress enacted these rules to combat “labor conditions detrimental to the maintenance of the minimum standard of living necessary for health, efficiency, and the general well-being of the workers” (Sharp, 2013 p. 71). The purpose and intent of

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.

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.

On July 24th, 2009, the United States of America raised the minimum wage to $7.25. However, six years later the minimum wage rage remains the same. It is time once again for the federal government to raise the minimum wage to spur the economy. Raising the minimum wage would help the American economy and the daily life of the citizens for a variety of reasons. The first topic is that it not only would help the people but it also would help the economy as a whole. The second topic is that companies are already raising the minimum wage because of the lack of money workers get. Finally the third supporting idea is that the states are also raising it over the federal minimum wage and also how can help poverty. There are many more topics on why the minimum wage should be raised but these reasons are the most important.

The history of the Federal minimum wage dates to 1938 when then President Franklin Delano Roosevelt signed “the Fair Labor Standards Act (FLSA)” into law (History of Minimum Wage). Franklin Delano Roosevelt signing the FLSA into law made sure that no American could be paid less than the federal minimum wage. The initial minimum wage was set at twenty-five cents an hour back in 1938. However, prior to Franklin Delano Roosevelt signing the Fair Labor Standards Act into law there was not any “national minimum wage, or…legislation to protect workers from exploitation. [Due to] lack of regulation tens of thousands of workers were routinely exploited in sweatshops and factories…for pennies a week” (Minimum-Wage.org). Which made covering day to day

To analyse and draw conclusions on minimum wage in relation to its standing in business law, we first of all need to define what the meaning of the term is. National minimum wage was introduced in 1998 through the national minimum wage act. This enforced that employers would pay each employee a set value set by the government per working hour. One of the main benefits of this was that the most low skills jobs within society received a fair wage. Setting the price of minimum wage is a complex task as the main priority is to reduce the negative effect on the labour market, creating benefits outweighing the costs. Inflation and minimum wage have a very close relationship, with inflation being the annual increase in the price of goods and services. As inflation rises, it is natural for minimum wage to follow at a similar rate. In october 2014, minimum wage increased 3%, whereas inflation increased 2%. This shows an improvement in the real term income for over 1,000,000 of the lowest paid workers in Britain.

1938 was the year that minimum wage was first established by President Theodore Roosevelt. At the time it was only $0.25, which is equivalent to about $4.13 today. However, even at that amount people, the 25-cent raise resulted in significant job losses. And if it didn’t work then, it wouldn’t work now. If an employer has tight budget compensation, and the minimum wage is raised, it means they can longer afford to pay their

Minimum wage is the lowest possible wage permitted by law to receive for working everyday jobs. In America, the average minimum wage is roughly ranging from $7.25-$9.00 depending on where a person may live. Through three arguments I have received I have accumulated much knowledge pertaining to minimum wage in America. All three arguments suggest what they believe should be done in regards to whether minimum wage should be raised or stay the same. After watching “Thirty Days in Minimum Wage” by Morgan Spurlock, reading “Economists Argue About Minimum Wages” from The Economist, and reading a minimum wage piece from a news article. I have gained enough facts to realize that I believe that minimum wage should be raised in America.

Minimum wage means the lowest amount that is allowed to be paid to an employed worker per hour. The federal minimum wage, meaning the minimum wage throughout the United States is $7.25, however, many states have chosen to raise theirs. The minimum wage must be raised because it will help lift people out of poverty and it will reduce the amount of spending on government programs. Raising minimum wage will help people get out of poverty. According to Census.gov, raising the minimum wage to $10.10 would lift 900,000 people out of poverty.

The federal minimum wage has been debated and questioned since it was created in 1938. In 2009 the federal minimum wage was set at $7.25. Barack Obama proposed it be increased to $10.10 per hour but was unsuccessful in his attempts. The working class has declared that it currently is not a liveable amount and are fighting to have it increased to $15 with a movement called #fightfor15. Workers believe that a higher minimum wage will create more jobs and boost the economy. There are many arguments that say minimum wage should or shouldn’t be increased. A value of $15 could do more harm than good. According to research, increasing the federal minimum wage to just $10.10 would provide a livable income for workers and boost the economy.

Minimum wage is the lowest wage paid or permitted to be paid (1). Americans have been debating raising minimum wage for years. The people that want the raise in pay believe that it will help workers who are not as qualified and need a salary they can support themselves on. The people who do not want the raise realize the damaging effects it will have on this country. These jobs do not require a great amount of skill so having a low pay is understandable. Minimum wage jobs were not created for people to support themselves and a family with. Raising minimum wage would hurt Americans more than help them because in the end prices of goods will increase and people will lose their jobs.

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