Over the years minimum wage laws and just minimum wage in general has changed directly. With these past changes the United States economy has come a long way, only reminding the US people why change is good. Changing the wage laws and increasing the wage to satisfy our current needs could get the United States government and the American people back on track.
The federal minimum wage was signed into law in 1938 by President Franklin Roosevelt, at the height of the Great Depression. Its stated purpose was to keep America’s workers out of poverty, and increase consumer purchasing power in order to stimulate the economy. In their article “Raising the Minimum Wage: The renewed Debate over ...view middle of the document...
” the Congressional Digest gives good input on past changes as well as Statistics from the Bureau of Labor Statistics. This article states:
At times, the minimum wage was increased to make up for the loss of its value caused by inflation, but because these adjustments have occurred at irregular intervals, while prices generally have risen each year, the purchasing power of the minimum wage has varied considerably. Today’s minimum wage would have be set at more than $10 an hour to have the same value that it had in 1968. In 2012, according to the Bureau of Labor Statistics, 75.3 million workers in the United States age 16 and older were paid at hourly rates, representing 59 percent of all wage and salary workers.
This article states that during the raise of recent and past minimum wage changes things like irregular intervals and loss of value caused by inflation has caused the minimum wage to vary considerably. This article also includes a great statistic from The Bureau of Labor Statistics stating that ‘Today’s minimum wage would have be set at more than $10 an hour to have the same value that it had in 1968.’ Thats a pretty self explanatory statistic and it just proves to show how we are behind as a unit and the wage change is much needed. Having these past changes gives good insight to what should be changed and good ways to how to go about changing the wage as well as what will need to happen to continue the cycle in the future.
Over the years minimum wage laws and just minimum wage in general has changed directly. These past changes are great reminders and examples of successful things that have happened to get the United States to where it is and provides good information on how to keep excelling as a country. Changing the wage laws and increasing the wage to satisfy our current needs could get the United States government and the American people back on track.
A wage increase in the United States’ current situation would benefit many people and It would boost the earnings of working families hardest hit by the Great Recession, spur economic growth, and create about...