This website uses cookies to ensure you have the best experience. Learn more

Minimum Wage Needs To Change Essay

979 words - 4 pages

Introduction
One of the most talked about subjects in the U.S economy is the topic of minimum wage. With president Obama working to increase the minimum wage to 10.10$ per hour people, both economists and politicians alike, have been debating whether or not 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 ...view middle of the document...

It’s also a well-known fact that a low minimum wage exuberates more poverty. Decent living wage will normally ensure the most necessary things for a person to live on such as housing, food, health care and transportation. “A common definition states that the living wage should be high enough that no more than 30% of take-home pay needs to be spent on housing.” As stated earlier the number of people doing minimum wage jobs in the U.S is nearly 50 percent and slowly rising. With this increase of low-paying jobs, and increase in poverty is soon to follow. Raising the minimum wage would hopefully help to change this trend and lower the amount of the poor in the United States.

Economic Recovery
In order of the U.S to have a, once more, stable economy, spending power needs to be handed to the people in society that spend the most. These big spenders are not the 1 percent wealthy part of society but rather the other 99 percent that work minimum wage jobs. Because there are so many minimum wage jobs the economy not only has a sense of inequality that comes with this unequal distribution of wealth, but also counter productivity, where all that allocated sources (aka money) are given to that already wealthy 1 percent.
This only adds to the ever increasing problem that is the gap between workers’ wages and their ability to actually purchase goods and services. As inflation continues to rise and wages continue to remain the same and unchanged more and more money is required to buy the basic necessities. Those with minimum wage jobs, who make up 50 percent of the United States labor market, are unable to pay for most of those basic necessities and therefore the industries that make these goods lose out on a large chunk of possible profits. One...

Find Another Essay On Minimum Wage Needs to Change

Increase In Ontario's Cost of Living Tied to Minimum Wage Increase

977 words - 4 pages Research Question. Should increases to Ontario’s minimum wage be tied to the cost of living? Minimum wage is something that maintains the stability of a states economy. Minimum wage is regulated by the provincial government where the most minor of changes creates an exponential ripple effect through both local and international economies. A minimum wage is the wage that is able to provide not only for bare physical needs but also for

Government Intervention to Help the Working Poor: There is a Better Option than Raising Minimum Wage

2554 words - 10 pages than the minimum wage. A case study was conducted on the adverse consequences of the minimum wage in the article "NJ And PA Once Again: What Happened To Employment When The PA–NJ Minimum Wage Differential Disappeared?" written by, Saul D. Hoffman and Diane M. Trace. In this article the researchers studied the change of employment numbers of New Jersey and Pennsylvania when the federal government raised the minimum wage in 1996. New Jersey

Congress should raise the minimum wage to $8.00 Use the although…because.The although clause will be your last mention of your opponents' viewpoint

1110 words - 4 pages increase the minimum wage under the pretext of it will cause inflation, such proposition should be rejected because it prevent almost 15 millions of American from being paid an higher wage, enjoying a standard life, and rising out of poverty line.Congress should raise minimum wage to $7.25 an hour; almost 15 millions American people would benefit from this change. According to Senator Edward Kennedy, "It's long past time for Congress to give these

Poverty and Corruption: Why African Foreign Aid Needs to Change

1685 words - 7 pages third world African countries. Africa needs conditional aid While some people argue that foreign aid to Africa is the force needed to bring the majority of Africa out of poverty, Africa needs a different kind of aid, developmental assistance to help reduce poverty and corruption. Africa currently is facing its worst poverty per capita in the past forty years and this is due to the influx of foreign aid in that period of time. In the 1970’s, the

Affecting Change - The paper talkes about the necessary changes that a company sometimes needs to go through in order to grow

1679 words - 7 pages Affecting Change PAGE \* MERGEFORMAT 1 Running head: AFFECTING CHANGEAffecting ChangeDaniel BonillaUniversity of PhoenixAffecting ChangeThere is a famous saying that would be mentioned sporadically during college and then more frequently when joining the corporate world; and that saying is "if you fail to plan, you plan to fail." A very simplistic view of a self control measure that reverberates in every aspect of a person's daily life. The

History of Minimum Wage

1516 words - 6 pages things will change as well. When prices of goods and services are raised it hurts everyone, when minimum wage is raised it only benefits few. The government tries to make everything better for the society. Though from an economic stand point they are not always doing the right thing. A higher minimum wage would cut down on employment and bring too many people into the working force. Minimum wage increase usually just leads to more unemployment and

America's Minimum Wage Problem

1322 words - 6 pages the change. If enough Americans support an increase and it comes into effect, the country will be caught up with the rest of the world’s economies. On December 4, 2013, Ron Unz wrote an article for the New York Times, arguing that “At the 1968 height of our post-war economic prosperity, the minimum wage was over $10.50 in current American dollars” (Unz, 2013). Clearly, America is extremely behind compared to other countries on raising the minimum

Living in Minimum Wage

3552 words - 14 pages $11,170. It is easy to see that minimum wage will not cut it to make ends meet and provide for just basic needs for food and shelter and the need for child care that you have to have in order to work for the minimum wage of $7.25/hr. (VA minimum wage, 2011).The state of Virginia had the 7th lowest poverty rate in the nation in 2010 at 11.1 percent (Poverty,2012). However, due to the 2007-2009 recessions and its prolonged high joblessness, poverty

Does London Need Its Own Higher Minimum Wage?

1165 words - 5 pages wage may well mean “excess labour supply”, which is not what a firm may desire. This may result in employees that were already employed losing their jobs because the company cannot cater to existing employees as it does not have the capability to adjust to the change in minimum wage. Effectively, increased unemployment is the result, which is bad for the economy. Furthermore, (BBC News, 2013) reports for 2013, indicate that inflation has decreased

Minimum Wage and Demand for Labour

1396 words - 6 pages standard of living of workers did not change. Therefore, government has to adjust to provide for non-workers. 4. Conclusion In conclusion, this report has discussed changes of employment in relation to the minimum wage, moreover the advantages and disadvantages of minimum wage is discussed in regards to the points of views from the government, employers and employees. Also this report concludes that average wage has less to do with employment

The Effect of Minimum Wage on Taxpayers

1302 words - 6 pages full time minimum wage worker earns about $15,000 and some change a year which is far from being enough for a family with more than one person. More women are earning minimum wage at an hourly rate than men. The good thing with minimum wage is that there are not any taxes being taken from paychecks; however, people are still struggling trying to make ends meet from not earning enough money to support themselves and their family. Individual

Similar Essays

America Needs A Higher Minimum Wage

1042 words - 5 pages Nearly fifty million Americans live in poverty, and a vital reason is the diminishing value of the minimum wage. First established during the Great Depression, under the Roosevelt Administration, the federal minimum wage was designed to lift millions of American workers out of poverty. Unfortunately, it was has not developed to cope with today’s rising inflation and modern increasing standard of living cost. Since its inception , the nation

The Effects Of A Change In The Minimum Wage

1440 words - 6 pages in the minimum wage, which would seemingly affect only workers, can actually be felt sometimes all the way down to the consumer, who might end up paying for it in the end—unless the firm finds another way to pay for the mandatory raise for all its workers, such as a decrease in its workforce or a change in the production process. These changes the consumer might not noticeably feel. A change in the minimum wage has several short-term and long-term

Raise Minimum Wage To $15 An Hour

1091 words - 5 pages support a single person, and especially not families. Someone making minimum wage should be able to support at least a family of two. It is not cheap to live in today’s world. Everyone needs at least food, water, and shelter. Rent, in the Metro-Detroit area, on average is about $700 a month. Each month, utilities can be about $100 for electricity, $100 for gas and heat, and about $30 for water and sewage. Everything adds up quickly and can make life

The Federal Minimum Wage: To Raise Or Not To Raise?

1203 words - 5 pages The minimum wage is a touchy subject in the United States. Many Americans wish for it to be raised, while others believe it should be done away with altogether. Proponents believe that raising the minimum wage will create a ripple effect that will see an increase in wages across the board, and in turn will stimulate the economy as people see increased buying power. Opponents, however, argue that raising the minimum wage will kill jobs, and that