The federal minimum wage has been increased twenty-two times since President Franklin Delano Roosevelt signed the bill into law in 1938. President Roosevelt was an avid supporter of a federal minimum wage as he says that “no business which depends for existence on paying less than living wages to its workers has any right to continue in this country.” Raising the federal minimum wage has many pros and cons, but is a necessity to thrive in society. People have argued that raising the minimum wage will cause inflation, but it will create various economical benefits, income benefits, production benefits, and improve racial justice. First, one main reason that the minimum wage should be raised is because the economy will prosper. “Economic Policy Institute stated that a minimum wage increase from the current rate of $7.25 an hour to $10.10 would inject $22.1 billion net into the economy and create about 85,000 new jobs over a three-year phase-in period” (ProCon). This quote shows that the economy will flourish from the increase of the minimum wage and that unemployment will decrease. Another quote that shows how raising the minimum wage will affect employment is “To the extent that through these contour effects it affords as much as 70 percent of the workforce greater purchasing power, it effectively increases aggregate demand for goods and services, which should ultimately lead to the creation of more jobs” (Challenger 19). Bryan Covert supports raising the minimum wage by
Almost all articles, for or against the raise, agree that as long as the poverty line is not adjusted, then state and federal services that low-income workers were previously using would decrease. This means that the money that is no longer being distributed in food stamps or other services can be returned to Washington, D.C. and be redistributed. Economists say that raising the Federal minimum wage to $9 will restore the dollar to its real value (The President’s Plan). And indexing the minimum wage would ensure that working families keep up with inflation.
A pro of raising minimum wage could be that their would be reduced government welfare spending meaning more money for important things like our army. We would be able to build more schools and get everyone an education with all the extra money. With reduced government spending we would be able to put more money into food stamps so that less rich people would be able to supply more food to the house. Government welfare supplies things such as medicaid meaning
The most important reason is that it would make it harder for people to create businesses if we raise the minimum wage. For example , say that you or a friend were looking for a job, what if neither of you can find a job because all of the once-were available jobs
Another plus for raising minimum wage is that people who don't have that much money that have families and can only get a job that makes them minimum helps them pay more pills and put food on the table. It would help many people out if we at least raised it by a dollar. That doesn't seem like much but after a while an extra dollar adds up
Minimum wage should not be raised because it is not an income that someone sold live off of. Minimum wage in the country is currently $7.25 but some states have changed it in a way that is way too much. For example Washington state currently has the highest minimum wage at $9.32 that’s a $2.07 increase to the current amount minimum wage. Seattle is currently considering to raise their minimum wage to $15 it’s understandable that the city is very large and things cost more money but if they raise minimum wage to $15 that will only bring inflation causing things to cost only more money than it already does. If there is one thing that should not be done to the country it is to cause inflation.
Christina Duvernay 8 December 2014 Professor Teel English 101 The Stress of $15 Dollars an Hour California minimum wage is currently nine dollars an hour. In September 2013, California passed House Bill AB10, which approved the first minimum wage raise for Californians in six years (California minimum wage rate 2014). In January 2016, the wage will be at ten dollars an hour.
Raising minimum wage would hurt businesses and cause them to close. It could also be argued that raising minimum wage would bring the prices of items up. Nevertheless, the benefits that come out of raising minimum wage outweigh these reasons. Elevating the minimum wage will bring families out of poverty and provide a livable wage. According to America’s Unions, “Raising the federal minimum wage to $15 an hour by 2025 would raise wages of up to 27.3 million workers and lift 1.3 million families out of poverty” (It would also allow for people to be able to keep up with inflation and it would provide enough stability for the economy to grow.
There are often many stereotypes about who is actually making minimum wage. Many will come up with stereotypical demographics to feed their agenda. According to the Minimum wage report, the majority of Pennsylvania minimum or below wage earners are 16-25 year old, white women. These women more often than not are un-married, and or non-high school graduates. 10 percent of workers making minimum wage in Pennsylvania are single parents, and another 10 percent have one or more children.
The federal minimum wage should be increased because raising it would increase the economic activity and spur job growth, decrease poverty, and also improvements in productivity and economic growth have outpaced increases in the minimum wage. Increases in job growth and economic activity will happen when the minimum wage is elevated. If the minimum wage was increased it will “inject 22.1 billion net into the economy and create about 85,000 new jobs over a three year period”. (“Raising the Federal minimum Wage to $10.10 Would Lift Wages for Millions and Provide a Modest Economic Boost") Thousands of new jobs will be created and it will put billions of dollars into the economy.
Since the Great Depression, there has been a minimum wage in America, but this minimum wage has changed 22 times since the Great Deprnbession. Many people say minimum wage should stay at $7.25 like it has been since 2009. Meanwhile, other people believe that minimum wage should be $15.00 so they can have more money to live comfortably. People think that a higher minimum wage will help, but it will hurt more people than it will help. If America makes the minimum wage $9.00, people will no longer be in poverty and it will make the economy balance out.
In 2015, CBS and The New York Times conducted a poll regarding the public opinion of Americans support for raising minimum wage from $7.25 per hour to $10.10 per hour. The poll showed that 71% of Americans favored it, whereas 26% opposed it. There are strong arguments to be made about both sides of the debate, and though there are lots of pros to increasing the minimum wage, there are equally as many contradicting arguments. The strongest argument held by Americans who favor the raising of minimum wage is that it would improve the overall economy of the U.S. and create more jobs. In a 2013 Economic Policy Institute article, David Cooper writes, “Across the phase-in period of the increase, GDP would grow by about $22 billion, resulting in
Increasing the minimum wage is similar to this scenario, as the minimum wage worker can act as the consumer. Many proponents of raising the minimum wage Whether it is a free hotdog, or an increase in minimum wage, the benefits are not free, as someone spent the time and money to make the hot dog. Similarly with an increase of minimum wage, someone pays the cost of the wage difference, whether it be the business or the consumer. Federal minimum wage was first introduced during the Great Depression in 1938. In order to parallel inflation, congress has raised minimum wage twenty-two times over the last seventy-nine years; subsequently, a push for higher minimum wage has increased, raising the hourly minimum wage for some workers, while
In conclusion, a federal minimum wage increase will significantly improve the standard of living of low-wage workers. To meet their basic needs, workers must be given a living wage. It is not only morally correct to do so, but also beneficiary to both ends. The increase in wages allows for a more supportable income, but it also stimulates the economy.
In the past three years, many politicians and labor unions have been pushing for an increase in minimum wage. Minimum wage is the lowest set wage by a law of a government body. An increase in minimum will benefit some people, and hurt others. An increase in minimum wage will cause benefit in the short run but will be very damaging to the economy in the long run. There should not be an increase in minimum wage because it is unhealthy to the economy in the long run and it will be the major cause of job loss, increase in inflation, competition, and the price level of goods and services.
Conflicting Viewpoints (Pre-writing) Jhonatan Jerez Strayer University Dr. Yancey Critical Thinking October 11, 2017 Should the Federal Minimum Wage Be Increased? Salary is one of the most discussed subject of all the time in the economy of the U.S. People work on an organization and expect to receive a monetary compensation for the work executed.