...This essay will talk about the minimum wage laws, I have read a few articles and must decide based on these articles what is best for the economy to raise minimum wage laws or lower them. There have been multiple debates on the minimum wage law debut. Both have good arguments but, based on these articles we read and analyzed I believe we should not endorse new minimum wage laws because the unemployment rate would rise, the demand for things in the world will go down because they are so expensive, and it would also eliminate jobs at the bottom of the ladder who are inexperienced. It will cause unemployment because when you start to raise the minimum wage laws you are paying your workers more even if some are doing more or have a better past...
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...with a low income working hours and hours just to work even longer for the rest of her entire life. Though keep in mind that the state's minimum wage is only $5.15. For some that can be their life, and to those, it may be the result of relatively low minimum wage. Who would have thought that our great nation has one of the highest in the world? The average minimum wage in our country is $7.25, and suppose that...
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...bringing a federal minimum wage of 25 cents into effect. FLSA was written to help workers and many supporters believed it would help those that were low-income families. Originally FLSA covered 38 percent of the labor force, mostly in the manufacturing, mining, and transportation industries (Wilson, 2012). Over the decades, Congress has increased the areas of labor force such as air transport (1947), retail (1961), construction industry, public schools, farms, laundries and nursing homes (1966) (Wilson, 2012). In the most current of time FLSA covers about 85 percent of the labor force. Since FLSA inception minimum wages have been raised a total of 22 times. The current federal wage is _____, and Arizona’s current minimum wage is $8.05 per hour. Due to Proposition 202, Arizona’s minimum wage will annually increased on January 1, 2016 and so on....
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...The Effectiveness of Raising Minimum Wage Since minimum wage has come into existence, raising the wage has become a heated topic for debate. President Obama said it best in his “State of the Union Address” in 2014. He said, “In the wealthiest nation on earth, no one who works full-time should have to live in poverty.” Yes, the current rate of $7.25 an hour averages out to about 14,000 dollars a year, which falls short of the poverty guideline of 17,000 per year. Therefore, I believe that minimum wage should be raised to deliver people out of poverty and restore their dignity, to boost the economy, and to provide for a better education. Minimum wage has been kept to $7.25 per hour for the last 8 years because the federal...
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...present their solutions to this issue. The minimum wage has been presented as a viable option in solving this issue of poverty that allegedly plagues the nation. The first federal wage regulations were passed under FDR in the 1930s, and many states already had their own wage regulations in place. Recently, there has been a growing movement for a substantial increase in the federal minimum wage. Many large cities and several states have increased their minimum wage or have begun working towards a higher minimum wage over the next several...
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...seven to eight years ago, about 8.4 million jobs were lost and 14.3% of Americans were living in poverty. Several years later, the government is still trying to get the Economy back on its feet. Democrats say that raising the minimum wage will increase earnings for millions of workers leading to cash flow which will stimulate the economy. Republicans say that although increasing the minimum wage would help many Americans by increasing their earnings, many Americans would also experience job loss. Increasing the minimum wage would help the economy greatly but could also hurt many of the low-income families. Rex Huppke of the Chicago Tribune, brings up a great point stating that raising the minimum wage is not an effective way to address the poverty issue America faces. When raising the minimum wage, not only will the families living in low-income housing be affected, but also young adults with their first jobs and teenagers working after school. This is a concern because these students aren’t the ones who need the help; it is the families with 5 children who...
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...Better employment means better minimum wage that will keep individuals earning enough to keep them out of poverty. Not a few or a couple, but many states and municipalities have all uplifted their minimum wages knowing that the federal minimum wage was just too low and waiting was not going to change anything. According to the article, “$10.10 Minimum Wage Could Actually Create New Jobs: Study” from The Huffington Post by Jillian Berman the EPI’s report concludes a growing body of evidence that, “raising the federal minimum wage from its current $7.25 per hour would help a large swath of Americans...that a $10.10 minimum wage would have been enough to push more than half of the nation’s 10-million plus working poor out of poverty in 2011” (Berman Para. 5). The minimum wage that low-waged workers earn for a family of two is not even enough to support basic needs and living expenses. In fact a study from a July analysis from Wider...
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...Our minimum wage is not enough. There are hard-working people who can’t make ends meet. People work 60 hours a week at one job and then 20 at another. I know jobs that pay minimum wage require little skill, but people work hard and should be compensated accordingly. If someone is struggling to take care of themselves, they would definitely have a hard time providing for a family even on their 60 hour work week. If someone worked 160 hours in a month (4 40 hour weeks) they would only make $1160 before taxes. On average the cost of an apartment in our area is between $600-$1300 per month. Even if you paid the minimum $600 that’s still 51% of someone’s check, excluding utilities, food, car, etc. Chris Lu of Time.com explained how a $15 dollar...
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...only get paid minimum wage. The federal minimum wage is set at $7.25, as of 2009. Over the past 79 years, the national minimum wage has been raised 22 times (Minimum Wage Mythbusters). The wage has been increased due to inflation, or the decrease in value of currency. With inflation, everyday objects cost more than they did 70 years ago. The minimum wage today is less compared to the minimum wage of 1981. The base pay needs to be raised for the good of the people, and the good of the country. Increasing minimum wage in the United States will reduce its poverty, boost economic activity, and benefit and reward...
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...Minimum wage has always been a controversial topic ever since the Fair Labor Standards Act took effect back in 1938. The goal Congress was trying to impose with the Fair Labor Law was to keep families out of poverty and to protect non-unionized workers in unskilled jobs. This law has failed us, being that the cost of living (rent, food, gas, taxes, utilities, healthcare, and transportation) continues to rise and the minimum wage stays at a plateau, resulting in parents not being able to provide all the necessities for their families. The United States should increase the minimum wage because the low wages are the cause for deteriorating health in American society; and the current minimum wage has more than 45 million people living below the poverty line. Raising the minimum wage would not only lift families out of poverty, but can also improve health outcome by increasing financial access to resources and opportunities. Americans living on minimum wage are more likely to experience adverse health outcomes, including higher rates of chronic illness and disability and lower life expectancies, because wages affect a person’s ability to access healthy foods. Low-wage workers are less likely to get decent health care because they cannot afford it. Low wages can cause stress because they may not know how they will pay rent...
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...Minimum wage is one of the number one issues in America. There are debates on whether minimum wage needs a raise or stay the same. The current minimum wage in California is $10.50 per hour. Most people that work under minimum wage work more than 60 hours a week. Those people that work under minimum wage are most likely to live in poverty. People can not earn a living on minimum wage. This is why minimum wage needs to be raised. One reason minimum wage needs a raise is because it leads to a healthier population and less premature deaths. Over the past few years, fast food prices drop while the healthier food prices increase. The author states that in “many poverty-dense regions, people are unable to access affordable healthy food, even when...
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...Minimum wage The Fair Labor Standards Act (FLSA) of 1938 established the minimum wage, overtime pay, record keeping and child labor standards (Minimum Wage - Wage and Hour Division (WHD). For the purpose of this assignment, the primary focus will be on minimum wage. The minimum wage is a price floor set at a minimum price for labor per hour. The intention for minimum wage is to help alleviate poverty, workers are guaranteed hourly pay, protection of minimum living standards, and employee labor wage equality. Currently, the federal minimum wage is $7.25 and has been in effective since July 24, 2009. Although many states have their own minimum wage laws, which may be above the federal minimum wage, states must comply with both state...
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...significant increase in the minimum wage can affect the market economy in a negative or positive way. Basically, what the demand in the market economy is that how much of a service or product the buyer is buying and supply is how much the market is supplying for that product or service. The law of demand for a market is basically tells that if a price of a good is low, more buyers are wanting to buy more of that product or service for a low cost. If the price is high, buyers would not buy as much of the product or service for a high price and buyers would probably look for it in a different market or have a value that is not as important which is opportunity cost. If the scenario of the minimum wage of $7.25 to $10.10 per hour occurs many different markets of products and services would increase their prices in demand for the rise of minimum wage because consumers would have more money in their pockets to spend on and the markets would increase their prices on their goods...
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...The United States’ minimum wage is absurdly lower than what is realistically required to survive in today’s economy. Hard working, impoverished citizens file countless applications for welfare and food stamps every day. These government aid programs are costing us billions of dollars. These funds could be re-appropriated for studying green technology, or for providing much needed maintenance to our national infrastructure. In any event, our system of regulating compensation for services rendered is long overdue for fresh legislation. In the 1930’s, congress passed a bill setting minimum wage at $5.25 an hour. Given the exponential inflation since that time, wages should have increased proportionately to the cost of consumer goods. Unfortunately,...
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...government should raise minimum wage. Raising minimum wage will help the economy and help people buy what they need to live a comfortable life. Raising minimum wage would be very beneficial to our economy. Raising the wage would not only help people by putting more money in their pockets but those people would also buy more goods which would put money back into our economy. Let’s face it, the cost of living has gone up significantly in the last decade or so. People need more money in order to live a comfortable life. People need money to be able to afford vital things such as food, transportation, education, healthcare, life insurance, etc. “Even if one can work full-time, after state and federal taxes and Social Security and Medicare deductions, one is lucky to retain $225 a week or $12,000 a year, which is precisely the threshold of poverty for a single person (Komlos, “Column: Why”).” If...
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