Federal Miniumum Wage is the Standard in Uunited States Businesses Essays

Federal Miniumum Wage is the Standard in Uunited States Businesses Essays

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The federal minimum wage in the United States has served as a standard by which businesses and employers alike have to abide by when dealing with finances and the way money is distributed and paid out to federal and non-federal employees. The minimum wage has essentially set a fixed limit as to how little employees can earn, and through this, has set a limit as to what the minimum annual salary is in the country. Nevertheless, the United has had issues regarding how the minimum wage is administered and how, when, and where it should be raised in order to accommodate for the higher cost of living, growing prices, increasing inequality, and in some cases, a weakening economy. This debate has come about recently as democrats, republicans, and independents have debated about raising it and what consequences and benefits doing so would entail. In any case, the federal minimum wage has certainly been an influential aspect of our economy and how our country runs. Ever since it was established, it has benefited the people, given a basis from which to live off of, and provided opportunities for those entering or are new to the workforce. As mentioned before, the federal minimum wage has been the source of several heated debates, since some advocate an increase and others do not, and has certainly been the cause for controversy as well.
The federal minimum wage has been active for about 75 years, having been established and signed by President Franklin D. Roosevelt in 1938 as part of the Fair Labor Standards Act (Sherk, 2013). Although the minimum wage has changed over time, the controversy and opposition surrounding its increase has been constant ever since it was proposed; having been challenged by several states and individual people, ...

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...necessary, not only to keep up with the rates of inflation, but to help the 10% that is poor and earns the minimum wage. An increase will give more money to the people who truly need it and will cause more money to flow and stimulate our economy. Not everyone would need this raise, but implementing one will not only increase the minimum wage value, but help close the income gap as well. This raise would also serve as an incentive to make workers more productive, increasing business and investment, and making our economy stronger. All in all, although there is strong opposition by lobbyists and certain groups that advocate keeping the minimum wage as is, there is truly a need for an increase, even if small. It would benefit the American people and benefit how our country currently works and functions and certainly help create a more sustainable and efficient America.

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