There are some arguments for a minimum wage. According to www.howstuffworks.com , in the U.S., minimum wage is 31% lower than the average hourly wage of a non-supervisory worker. The solution offered by proponents is to simply raise minimum wage. For this argument, the offered solution is merely covering for a lack of initiative on the part of the low wage worker. The people that are earning the 31% higher wage, worked for the privilege of the higher wage. They did not ask for a hand out in the form of a law (i.e. minimum wage) that makes the employer give them more money they did not earn, which seems to be what the proponents of this ideology want to happen. Another argument for a minimum wage increase is that after adjusting for inflation, the real value of today’s minimum wage is the lowest it has been since 1952. I would pose the questions, “Why are you selling yourself short? Why would you work for that amount if you cannot get by on it? What are you doing to change your situation?” I feel like a lot of people in a difficult financial situation are there due to a lack of initiative and poor choices.
There are many negative effects of minimum wage on our society. Let us look at inflation first. In Reihan Salam’s artic...
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...come end up getting eaten up by the student loan payments? And two, cheap money acts as a positive feedback on prices, driving them up. If you want to understand why university costs are so high, you can look directly to the existence of student loans.” This premise, Camplin claims, is a direct result of a minimum wage that law that creates the need for a higher education, therefore the student loan, and the increasing prices for education, which in turn prices higher education out the reach of a minimum wage earner. The people that can earn a post-secondary education are able to prove to potential employers, even though they are unskilled, that have the desired traits to hire and train that person. An educational accomplishment, whether it is a degree or certificate or trade school, shows dedication, personal drive and an ability to show up and get the job done.
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- Introduction Minimum wage was established state wide in 1938 by Franklin Delano Roosevelt; at that time it was only 25 cents which is equivalent to 4 dollars in today’s world. It was established as part of the Fair Labor Standards Act which covered youth, government and overtime pay. Massachusetts was actually the first state before Franklin’s statewide acknowledgement, and it only covered woman and children without overtime. There are lot of issues with minimum wage now such as setting a statewide minimum wage to $10.10, which does not benefit places were living is expensive such as in New York.... [tags: Minimum wage, Employment, Wage]
2449 words (7 pages)
- Minimum Wage Currently, in the United States, the federal minimum wage has been $7.25 for the past six years; however, in 1938 when it first became a law, it was only $0.25. In the United States the federal minimum wage has been raised 22 times since 1938 by a significant amount due to changes in the economy. Minimum wage was created to help America in poverty and consumer power purchasing, but studies have shown that minimum wage increases do not reduce poverty. By increasing the minimum wage, it “will lift some families out of poverty, while other low-skilled workers may lose their jobs, which reduces their income and drops their families into poverty” (Wilson 4).... [tags: Employment, Minimum wage, Wage]
1282 words (3.7 pages)
- Minimum Wage has been a topic of debate for many years in California between politicians and economists. The California initiative is to have minimum wage raised to at least $15 in the next few years. Just like every measure in the United States, this measure has some pro’s and cons.The Obama Administration has expressed its support for minimum wage campaign called, “Raise the Wage” by Senator Murray and Representative Scott. “Raise the Wage” is an act works with state and national advocates, along with legislators, to make a change.... [tags: Wage, Minimum wage, Employment]
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- Minimum Wage, Is How Much. Minimum wage is the lowest wage someone can be paid that is permitted by law per hour (“Minimum Wage”). The Federal minimum wage was created in 1938 by President Franklin D. Roosevelt starting out at $0.25 per hour. The Federal minimum wage is now set at $7.25 which was put into effect on July 24, 2009. The minimum wage has been set at $7.25 an hour for more than seven years. Some people think that the minimum wage should stay the same and others think that it should be increased.... [tags: Wage, Minimum wage, Supply and demand]
1197 words (3.4 pages)
- The federal minimum wage became a law in 1938 and the first minimum wage started at .25 cents. Over the past years, the minimum wage has seriously changed because of the power of economy. In 1948 the minimum wage was starting with 3.09 to 8.67 dollars an hour, however, in 2013, the average was 6.60 dollars per hour. As the decades past, this amount of money was changing dramatically till today, which is 7.25 dollars an hour as shown in the graph below. That being said, today’s minimum wage is more than the minimum wage has historically presented, although it remains over a dollar an hour below its historical high.... [tags: Minimum wage, Employment, Wealth, Wage]
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- Here in Albuquerque we are the largest city and have the highest density of people here in New Mexico. With that said, Albuquerque has problems that could be fixed but for this problem we are going to focus on is poverty, we can fix this problem in particular by raising the minimum wage. Approximately 18 percent of Albuquerque that fall BELOW the poverty line are ~18%, accounting for almost a fifth of the population. So how do we as a city combat these levels of poverty. To help the 18% of people that are living in poverty, raising the minimum wage would greatly influence the economy and population of Albuquerque.... [tags: Minimum wage, Wage, Unemployment]
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- "The minimum wage is something that F.D.R. put in place a long time ago during the Great Depression. I don't think it worked then. It didn't solve any problems then and it hasn't solved any problems in 50 years." -- John Raese For many years it has been a matter of conventional wisdom among economists that the minimum wage causes fewer jobs to exist than would be the case without it. This is simply a matter of price theory, taught in every economics textbook, requiring no elaborate analysis to justify.... [tags: Minimum Wage Research Paper]
3664 words (10.5 pages)