Why The Government Should Raise The Minimum Wage - 1699 Words

The debate whether the government should raise the minimum wage has been challenged for many years and it is crucial to deliberate the ethical facets of such a conundrum. Research and economic texts have reported over many years that it is perhaps very difficult to The belief that a company should hire and compensate people situated on their worth is not only good for business, but also for the employee, since being able to freely trade value for value is in the best interest of an employee. In an economy where minimum wage is not enforced, employees and employers could negotiate without government imposed wages, which could potentially make unskilled workers more attractive to employers. This would create jobs for young people, those†¦show more content†¦Living on $6 an hour would not be easy, but after gaining experience the hypothetical worker could find a better job that will pay more. In essence, some economist believe that the government should not interfere with the negotiation of pay, because employees and employers should be able to set a wage that is acceptable to both parties. While the opposition purports that job loss and excess power to the government are the fundamental products of raising the minimum wage, the inherent ethical worth of doing so remains paramount. In 2014, the Obama administration proposed to raise the federal minimum wage to $10.10 an hour, which would have been a significant increase. Poll after poll demonstrates support for an increase in minimum wage from many groups, such as stakeholders, policymakers, as well as the American people. Many Americans agree that increasing wages for lower income individuals is a key component in reducing poverty. Assuming that a minimum wage beneficiary does not lose employment or hours, an increase in the minimum wage can have a positive effect. According to the Congressional Research Service, â€Å"a single parent with two children who works full-time, year-round at the current minimum wage has earnings of about 78% of the poverty line. An increase in the minimum wage to $9 per hour would raise th at family’s earnings to about 97% of the poverty line and an increase to $12 per hour wouldShow MoreRelatedMinimum Wage Should Be Raised1395 Words   |  6 PagesIn today’s society, minimum wage is an issue. It’s whether or not it should be raised or lowered. This interests almost everyone due to the fact that everyone wants to make money and the amount should reflect the work and skills that are put in. The minimum wage is a major antijobs policy. First things first, the minimum wage buys a lot less than it used to. Only Congress can adjust the federal minimum wage, and it doesn’t necessarily increase with inflation. As a result, its buying power has diminishedRead MoreEssay Should Congress Raise Minimum Wage?614 Words   |  3 PagesShould Congress Raise Minimum Wage? As our federal government debates the idea to raise the minimum wage, there are several interesting questions that occur. Most importantly, should we raise the minimum wage? I believe it is a bad idea to raise the minimum wage from $7.25 per hour up to $10.10 or more in a short period of time. I will explain why raising minimum wage radically would kill jobs and hurt our economy. The main reason raising the minimum wage radically would kill the economy is theRead MoreShould Minimum Wage Be Raised?1062 Words   |  5 PagesTo raise or not to raise? That is the ever pressing question regarding Minimum wage. Not many subjects can ignite a controversy as quickly as that of whether or not minimum wage should be raised, or by how much should it be raised or if it should remain the same. What is minimum wage? By definition, minimum wage is the minimum hourly wage an employer can pay an employee for work. (â€Å"MinimumWage.com†) America’s minimum wage was first introduced by President Franklin D. Roosevelt in 1938. That minimumRead MoreA Brief Note On Raising Minimum Wage1088 Words   |  5 PagesRaising minimum Wage There is always talk about the problems of North Carolina’s economy, and these problems then become publicized and put throughout the media, informing people on the condition of their state’s economy. A popular topic lately is the state’s minimum wage, and whether it should be raised or if we should keep the current minimum wage. Usually, opinions vary on what to do about minimum wage, however there certainly seems to be a larger group of people going for the raise in minimumRead MoreShould Minimum Wage Be Significantly Increased in the United States?1450 Words   |  6 PagesThe minimum wage was set in a federal mandate back in the 1938, by President Franklin D. Roosevelt, to have a minimum hourly wage set across the United States. The bill is known as the Fair Labor Standards Act (FLSA). It was founded to boost the low-income families and provide some money to the full time workers. In its original form, the bill first covered about 38 percent of the workers in America such as covering the workers in the mining field and transportation industry. As we became more technologicallyRead MoreWhy we should raise the minimum wage1202 Words   |  5 Pagesworked on minimum wages are struggling to live on a salary that is below the poverty threshold. In 2012, the U.S census posted that in a family of three; their income is 18,552, (U.S Census). In most case, one member of the family is working on a minimum wage salary which is below 18,552, (U.S. Dept. of Labor). It has been almost a five years since congress has raised the minimum wage (Huff Post). Throughout my argument, I will share my thoughts as wells as facts on why congress should agree to raiseRead MoreRaise Wages Not Expenses1680 Words   |  7 Pages25 January 2016 Raise Wages Not Expenses The image of the American dream is one that is known around the globe. For a couple hundred years, it has inspired individuals and families to start fresh and hit it big in the United States. That dream, however, may be more far fetched than people think. If they are fortunate enough to find a job, they will quickly realize that the starting national minimum wage is not enough to support a family in our economy. Raising the minimum wage, is an option,Read MoreMinimum Wage And The Wage1573 Words   |  7 Pages What is minimum wage? It is the lowest amount that employers must pay their workers per hour of their labor, legally prescribed by federal government. According to Bureau of Labor Statics, United States Department of Labor, minimum wage was first introduced in United States by President Franklin Delano Roosevelt in 1938 called Fair Labor Standard Act (FLSA). The initial minimum wage was set to $0.25 per hour in 1938 (Grossman). The minimum wage was increased twenty-two ti mes from 1938 to 2009. AtRead MoreMinimum Wage Should Be Legal1239 Words   |  5 PagesLisa Valk Kristoffer Martin English Composition Raise Minimum Wage There is not one state in the US where a minimum wage worker can afford a two-bedroom unit at fair market rent, working a standard 40-hour work week(There are a few states where this is not true. Also, the fair market rent is the average cost. It doesn t reflect the super expensive and bottom rent places). The federal minimum wage would be $10.86 [per hour] if it had kept up with inflation over the past 40 years. Instead, it isRead MoreThe Minimum Wage Must Benefit Millions Of American Workers989 Words   |  4 Pages25 cent minimum wage, and a 40 hour work week for many professions, but nowadays, the minimum wage has fallen well behind the cost of living and fallen behind inflation. Forcing states to have minimum wages based on their cost of living, would put billions more dollars into the economy and significantly boost the salary of millions of people. It’s hard to talk about minimum wage without somebody saying that raising it will ruin the economy, but this is a myth, raising the minimum wage would benefit