One of the most talked about subjects in the U.S economy is the topic of minimum wage. With president Obama’s increase in the minimum wage to 10.10$ per hour people, both economists and politicians alike, have been debating whether raising the bar is a smart idea. At a time when the country the country’s inflation continues to rise at a steady pace and Americans are constantly working to feed their families, some economists know that a raise in the minimum wage would help elevate some of the difficulty. The last time the federal minimum wage was raised was in July of 2009, where rose from 6.55$ to 7.25$. However, there are plenty of reasons as to why the wage should be raised. Some may not think it, but raising the federal wage could very well assist the U.S with some of its largest economic problems, the increasing standard of living in the U.S and the recession in the economy. At the same time, this essay will dispute the supposed fact that an increase in minimum wage would cost Americans’ jobs and raise the unemployment level.
For the Good of Americans
The United States is home to nearly 317 million people to this date, with nearly 50 percent of them working at minimum wage jobs; that is, many people working long hours every day for jobs that do not pay them enough to feed themselves and their families. (US News) However, the rise of minimum wage would make plenty of jobs. The current unemployment rate in the U.S is 6.7 percent; the lowest it has been since president Obama took office. Most of this 6.7 percent is made up of teenagers and the middle aged who are looking for a second job to support their families. (US News) This demographic would not settle for 7.50 an hour, even for part-time jobs, a...
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...Minimum Wage) http://www.raisetheminimumwage.com/pages/qanda
• (US News)
• "How Raising the Minimum Wage Would Help the Economy. (Learnvest)
• "The Case for Raising the Minimum Wage." (The Case for Raising the Minimum Wage) http://www.dol.gov/dol/aboutdol/history/reich/reports/pay.htm
• "Trickle Down Theory Definition | Investopedia. (Investopedia.) http://www.investopedia.com/terms/t/trickledowntheory.asp
• "Soviet History: The Great Patriotic War." (The Great Patriotic War) http://marxists.org/history/ussr/great-patriotic-war/
• "Minimum Wages and Employment." (Minimum Wages and Employment.)
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