The cost of living can become very expensive and with these expenses, money is necessary. By raising the minimum wage, living expenses could be less of a financial crisis for families. A higher minimum wage would also supply families with more ease because the struggle of making ends meet would be less. This paper discusses the advantages of a higher minimum wage, why it is necessary for those who live in, or are very close to living in poverty, and the shortcomings of the current minimum wage. All of this is to say that, the current minimum wage is not enough for families to survive on so it must be raised.
In 1938 President Franklin D. Roosevelt signed the Fair Labor Act, establishing, among other things, the minimum wage (US Department of Labor). In 1938 it was 25 cents an hour and a maximum workweek of 44 hours. In those early times, this was a landmark bill and created quite a controversy between workers in factories who worked hard all day long and industry owners. "Do not let any calamity-howling executive with an income of $1,000 a day, ...tell you...that a wage of $11 a week is going to have a disastrous effect on all American industry" said President FDR upon hearing the fuss over setting a minimum wage. His statement disregarding the fact that a minimum wage places a burden on industries brings up the next point.
The historic argument that raising the minimum wage would result in lost jobs because corporations cannot afford it and therefore would lay off employees must be dispelled. With the majority, 66 percent, of low-wage workers not employed by small businesses, but rather by large corporations with over 100 employees, means that these employers are large enough and produc...
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...est hit by the recession” .
With the federal minimum wage currently at $7.25, raising it to just $9.00 7.6 million workers would be able to earn enough on a weekly basis to survive. With $10.10 per hour over 16.5 million workers would be able to pull themselves out of despair and eventually move above the poverty line (The Effects of Minimum-Wage Increase on Employment and Family Income). With these increases the wages of over 30% of Americans would increase. That is potential financial stability for for 30% of America 's households.
A higher minimum wage would benefit families of the working class who need the extra money in order to survive. Not only are higher wages needed but companies can afford to give them. With the minimum wage at one of the all time lows, an increase is of the utmost importance considering it would strengthen families and the economy.
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