Essay Should Congress Raise Minimum Wage - 614 Words

Should 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 the pressure it would place on small businesses. According to TheWashingtonPost.com article, Small Businesses are the backbone of the economy. They also cited that many studies from the U.S. Small Business Administration show small firms employ just†¦show more content†¦The economists all stated the lose from the minimum wages increase out weight the winner. Also the economist stated that this type of thinking persuaded twenty-eight states to raise their minimum wage above the federal level between 2003 and 2007. Have you ever thought about feeding a family and paying the necessary bills on $7.25 per hour? If you answer â€Å"no,† then think about this. With this type of salary you could not cover your rent in most parts of the United States, much less feed your family. In this day and time this feat cannot be achieved without raising the minimum wage. If our current government does not raise the minimum wage than a person earning minimum wage would need to work two or three jobs just to keep up with inflation. According to Huffington Post there are millions of Americans living in poverty. Our current inflation rate from 1913-2013 have not mirrored the pace of wage increases. Because of this the Fair Labor Standards Act of 1938 was introduced. In society today the worker’s pay doesn’t keep up with our current inflation rate. But with the Fair Labor Standard Act everything changed. This act brought the everyday low wage earner out of poverty and stimulated the Gross Domestic Product. Now, whyShow MoreRelatedShould Congress Raise The Minimum Wage?721 Words   |  3 PagesJohn Somers Econ 201 10 February 2017 Article Summary 1 Should Congress Raise the Minimum Wage Many states, including Oregon, has been considering a raise in the minimum wage. A raise of the minimum wage can cause job cuts or raise in product prices, but a rising number of economist have come to the conclusion that there is quite a considerable room of raise that cities can do without affecting the unemployment rate. Raising the minimum wage can ease the lives of many people. It can even cause anRead MoreCongress Should Raise The Federal Minimum Wage1042 Words   |  5 PagesMany Americans agree that Congress should raise the federal minimum wage, but do individuals truly know the effects of increasing the minimum wage to $15? Some people only look at the comprehensive view of seeking a higher salary, but the increase can cause many negative, as well as positive, effects. Several economists from across the country have done extensive research over the topic of the minimum wage increase, and many differing opinions have formed. The effects can vary from person to personRead MoreFederal Minimum Wage Should Be Increased1180 Words   |  5 Pagesto come to conclusions that the federal minimum wage is excessively low. The government can stand to help people gain more money, resulting in a less poverty-stricken country. The cost of living or gaining has increased significantly over the past twenty years, and the minimum wage, for most isn t enough for them to support themselves. There have been efforts to increase the federal minimum wage, but none has succeeded in getting approved. Minimum wages are too low for a human, to provide forRead MoreCongress As Part Of The Fair Labor Standards Act1084 Words   |  5 PagesCongress as part of the Fair Labor Standards Act (FLSA) instituted minimum wage back in 1938. The first minimum wage was at $0.25 per hour and the last minimum wage increase occurred in 2007. Over the past 65 years the minimum wage has varied considerably in inflation-adjusted buying power. It has averaged $6.60 an hour in purchasing powe r in 2013 dollars, but it has ranged from a low of $3.09 an hour in late 1948 to a high of $8.67 an hour in 1968. Today’s minimum wage buys somewhat more than theRead 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 MoreEssay on The Minimum Wage Should be Raised1371 Words   |  6 PagesMinimum wages go all the way back to 1938, during the great depression, when the stock market crash and bank loan were failing. Families need income of some type, were they wanted to make it fair were individual could get pay the same without a college degree. I am going to start off with a little about minimum wages history and how this could help our Economic. In 1892 Federal Government adopt an 8 hour workday and other wages standard for employee. In 1903 Congress create the U.S. DepartmentRead MoreMinimum Wage Persuasive Essay1106 Words   |  5 Pagesmore than the federal minimum wage? If you said yes then perhaps you are unaware of the many negative effects surrounding a higher minimum wage and after reading this you will be educated on why the minimum wage should not be raised. In the beginning, the minimum wage was created with good intentions. It was originally established in 1938 and was $.25 an hour (Sessions). It was created to make sure that businesses would not take advantage over workers. While the minimum wage was and still is a goodRead MoreThe Debate Over Minimum Wage940 Words   |  4 Pages The debate on raising the minimum wage has been discussed in detail in Congress for the past eighteen months. But as of late, writer William Finnegan suggests, it is â€Å"among the many urgent issues that it [Congress] certainly won’t address.† Though this issue is important, Congress seems to be putting off making any real decision in regards to raising the minimum wage. The bill to raise minimum wage from $7.25 per hour to $10.10 and hour over a two year period had been thrown around for monthsRead MoreMinimum Wage and Its Implications763 Words   |  3 PagesMinimum wage affects everyone. The current minimum wage is at $7.25 and President Obama announced that he wished to see a change in the minimum wage, he wants to raise the hourly wage to $10.10. A rise in the income of those who are employed will also raise the cost of hiring unskilled labor and can potentially reduce the number of people hired by businesses. Also, if minimum wage is raised then the price of the products that the companies are making might increase which will continue the cycle ofRead MoreMinimum Wage Should Be Legal1156 Words   |  5 PagesIn United States, we hear the government, businesses argued about minimum wage. Whether it should be raised or leave it the way it is. But, what exactly is minimum wages? Minimum wage is the least amount of money per hour that must be paid to a worker after surrounding a service according to the law. Many working class families’ lives depend on this minimum wages. There are few families who make less than $15000 a year who feed their families on this salary and still pay bills from it. Over the past