Issue of Raising the Minimum Wage - 1527 Words

Life is a struggle and finding a job and paying your bills is not always easy in this world today. A major debate that has been an issue is whether there should be a law to raise the minimum wage. The minimum wage is the lowest hourly salary an employer can pay an employee for their work. According to Williams (2013), â€Å"The minimum wage was signed into law by President Franklin Roosevelt in 1938†. The first minimum wage was 25 cents per hour. Since then, the minimum wage has been increasing as the last increase of Floridas minimum wage was an increase of 14 cents on Jan. 1, 2014. This federal increase makes it 68 cents higher than the federal minimum wage of $7.25. Gibson (2014) states â€Å"Obama, who last year called for an increase in the†¦show more content†¦In addition, having a minimum wage forces the bigger companies out there to share the wealth to the people who help produce it. American companies make billions of dollars and the least that they could do is share it with those who need the minimum to make it through their everyday lives. For example, McDonalds is a big company that makes an enormous amount of money that can afford to pay their workers who make their profit more than just the bare minimum. According to Zadrozny (2013), â€Å"Currently, approximately 3.6 million workers make at or below the federal minimum wage of $7.25†. Even though having a minimum wage helps in many ways and keeps a minimum to what people can work for, it also can do some harm. The minimum wage law does cost the economy thousands of jobs. The essential principle of economics is supply and demand and the minimum wage aspect goes hand in hand with it. In the sense of labor, this means the amount of workers increases and wages increase, and the demand for employees by employers’ decreases as the wage increases. For instance, if an office cleaning job was publicized for hiring. If the wage was $90 per hour, many people would be intereste d in taking the job. However, if the income was $2 per hour, there most likely wouldnt be anyone to want the job. On the contrary, if the government obligated the owner to pay at least $9 perShow MoreRelatedRaising The Minimum Wage Is The Issue Of Social Equality1398 Words   |  6 Pagesworking class. Today media focuses on the rich and upper middle class. For instance, they focus one Donald Trump, who is running for president. Instead of the issue of raising the minimum wage for fast food workers. The issue of raising the minimum wage is the issue of social equality. This shows the importance of how social equality is a major issue for people. Social equality has caused an inequality between the poor and rich, which has limited the opportunities for the poor working class. In the MiddleRead MoreRaising the Minimum Wage: A Counter-Intuitive Solution Essay753 Words   |  4 PagesWhile some believe that raising the minimum wage will resolve poverty issues and lack of pay with the signing of legislation, the raising of the minimum wage to $10.10 an hour (as advocated by President Obama and the Democrats) would cause the poverty issue to be worse than it already is; inflation would occur, employees would be laid off, and minimum wage employees would lose welfare benefits, thus offsetting the wage increase. The Government should consider the effects on the American economy asRead MoreRaising The Minimum Wage Will Reduce Poverty Essay734 Words   |  3 PagesFurman, Jason, and Sharon Parrot. Raising the Minimum Wage Will Reduce Poverty. Poverty. Ed. Viqi Wagner. Detroit: Greenhaven Press, 2007. Opposing Viewpoints. Rpt. from A $7.25 Minimum Wage Would Be a Useful Step in Helping Working Families Escape Poverty. www.cbpp.org. 2007. Opposing Viewpoints in Co ntext. Web. 9 Nov. 2015 Jason Furman and Parrot Sharon explain why raising minimum wage will help families. The wage has to be elevated to just the point where a family can actually afford allRead MoreMinimum Wage And The Wage Essay1204 Words   |  5 PagesThe minimum wage is one of the most controversial issues on our country, which is United States has been facing last ten years. There have been never ending debates over this issue until the government, company, and others party stand together, and raise the minimum wage throughout the nations. There are communities that believe raise the minimum wage has negative impact of every sector of the country. Other communities have different beliefs over the issue, raising the minimum wage helps the poorRead MoreMinimum Wage Should Be Raised For A Better Standard Of Living1636 Words   |  7 PagesVamsi Sanagala Hannah Manshel Dec 15 2014 English 1 Minimum Wage Almost 3.3 out of 76 million workers in the US receive minimum wage (Source: BLS reports). Activists for raising the minimum wage claim that the federal minimum wage of $7.25 is the reason they are living in poverty, and that the wage must be raised for a better standard of living. Many people who take on minimum wage jobs are young and work in companies that don’t carry much prestige; however, they stillRead MoreMinimum Wage During The Great Depression1419 Words   |  6 PagesThe Minimum Wage Battle In the United States, the minimum wage was passed during the Great Depression in 1938 to protect the buying power of normal workers in a period in which the â€Å"unemployment rate was still a very high 19 percent† (Sklar, 2009, p. 1). Since that time, there has been significant debate about the controversial topic of raising the federal minimum wage. The federal minimum wage law was created to eliminate unfair practices of sweat shops and manufacturing companies during this timeRead MoreRaising The Minimum Wage? Essay1217 Words   |  5 PagesThe minimum wage is one of the most discussed issues around the country. Everyone has a different opinion if raising the minimum wage would help families across the country to have a better lifestyle or if would cause an unbalance in the economy. Democrats and Republicans have a different view on this issue, while Democrats supports raising the minimum wage by $15 an hour, Republicans have stated that they refuse increasing the wage be cause it would leave different factions of Americans outside ofRead MoreA Brief Note On Raising Minimum Wage1088 Words   |  5 PagesBrendan Mason Mrs. Scruggs 08/07/15 Raising minimum Wage There is always talk about the problems of North Carolina’s economy, and these problems then become publicized and put throughout the media, informing people on the condition of their state’s economy. A popular topic lately is the state’s minimum wage, and whether it should be raised or if we should keep the current minimum wage. Usually, opinions vary on what to do about minimum wage, however there certainly seems to be a larger group ofRead MoreMinimum Wage Should Be Raised798 Words   |  4 PagesIn 2008 the United states came into recession due to many factors. Based on the article, the minimum wage should be raised. Ever since that meeting many economists have proposed different plans to solve this issue. One of these solutions for this particular issue is to raise the minimum wage. This would affect the economy, workers, and job growth which will follow in need of help. This plan would help, but there has been research that has gone against the solution s tating that there is more costRead MoreThe Debate Over Minimum Wage940 Words   |  4 Pages The debate on raising the minimum wage has been discussed in detail in Congress for the past eighteen months. But as of late, writer William Finnegan suggests, it is â€Å"among the many urgent issues that it [Congress] certainly won’t address.† Though this issue is important, Congress seems to be putting off making any real decision in regards to raising the minimum wage. The bill to raise minimum wage from $7.25 per hour to $10.10 and hour over a two year period had been thrown around for months